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.
Personalized planning
Bank of America Life Plan® is an easy, flexible way to set and track your short- and long-term goals, get one-on-one advice and adjust when life changes.adatext
A rewarding relationship
Qualifying Bank of America Preferred Rewards members can enjoy benefits and rewards on everyday banking, from interest rate boosters to waivers on certain services.
Easy ways to save
Have a checking account with us, too? Enroll to round up debit card purchases and transfer the difference to savings automatically.adatext
Cash back deals
Want to put more in savings? Search participating merchants and earn up to 10% cash back on everyday purchases.adatext
Account details and fees
Account details and fees , open
Monthly Fee
- 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
Required Opening Deposit
- $XXXX
| Monthly Fee | Required Opening Deposit |
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To view all fees and additional information on how to link eligible accounts, see the Personal Schedule of Fees. You can also refer to our Clarity Statement or Deposit Agreement and Disclosures for additional information.
Rates
Rates , open
Preferred Rewards members can earn even more based on their tier. How to qualify layer
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
Here’s what comes with your Advantage Savings account
Here’s what comes with your Advantage Savings account , open
- A trusted network
- Mobile check deposits
- Automatic Transfers
- Custom alerts
- Balance Connect® for overdraft protection
- FDIC insurance
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.
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.
Need more info about savings accounts?
How can I open an account?
You can apply online for a checking account, savings account, CD or IRA. Simply select an account, enter your personal information, verify your information and choose features & funding options. You will receive an email once your application is received and a follow-up email telling you whether it has been approved, plus any next steps.
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Contact us
- Schedule an appointment
- Schedule an appointment
- Call us
- Phone number:844.375.7027