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Bank of America Advantage Savings

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How we can help

Our savings account layer can help boost your financial health and put your goals into focus.

What is a savings account?

A savings account is a deposit account that generally earns higher interest than an interest-bearing checking account.

Account details and fees

Account details and fees , open

Monthly FeeRequired Opening Deposit
  • We'll waive the monthly maintenance fee each statement cycle you meet one of the following:
  • Maintain a minimum daily balance of $XXXX or more in your account
  • OR
  • Ask us to link your Advantage Savings account to your Bank of America Advantage Relationship Banking®, Bank of America Advantage® with Tiered Interest Checking or Bank of America Advantage® Regular Checking Accounts (first 4 savings accounts)
  • OR
  • Are enrolled in the Preferred Rewards program and qualify for the Gold, Platinum or Platinum Honors tier (first 4 savings accounts), or Diamond or Diamond Honors tier (unlimited)
  • OR
  • An owner of this account is under the age of 25*
  • OR pay $XXXX/month
  • Please see the Personal Schedule of Fees for more information on how to link eligible accounts to avoid the Monthly Maintenance Fee.
  • *Fiduciary accounts, including UTMA/UGMA, do not qualify for the under the age of 25 requirement to waive the monthly maintenance fee
  • For new accounts, we will waive the monthly maintenance fee for six months from account openingadatext
  • $XXXX


Rates , open

Today's ratesadatext

Account balanceStandard Annual Percentage Yield (APY)adatext

Today's ratesadatext

Account balance
Standard Annual Percentage Yield (APY)adatext

Preferred Rewards members can earn even more based on their tier. How to qualify layer

Gold Tier APYadatextPlatinum Tier APYadatextPlatinum Honors Tier and higher APYadatext

How to qualify

All you need to qualify is an eligible Bank of America® personal checking account and a three-month combined average daily balance of $20,000 or more in qualifying Bank of America deposit accounts and/or Merrill® investment accounts. Learn more about Preferred Rewards

More savings account options

We also offer CDs and IRAs. Planning for college? Check out 529 College Savings Plans from Merrill.

Here’s what comes with your Advantage Savings account

Here’s what comes with your Advantage Savings account , open

A trusted network

We're here when you need us.
Along with 24/7 access online, you can find us at thousands of ATMs and financial centers.

Find a location near you

Fee waiver for students

Between tuition and textbooks, putting aside extra cash can be hard. We can help by waiving the monthly maintenance fee for Students under 25.

Student waivers for Bank of America Advantage Savings

Students under age 24 are eligible for a waiver of the monthly maintenance fee while enrolled in a high school, college, university or vocational program. Please refer to your Personal Schedule of Fees for details.

More help managing money

More help managing money , open

Short-Term Savings Calculator

See how long it takes to save for the things you want and need.

Try the Savings Goal Calculator

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