Rate updated · 103 banks tracked
Bank of America savings account rate: 0.04% APY
Bank of America pays 0.04% on its savings account — ranking in the bottom quartile of the 103 banks SwitchWize tracks, where the best available rate is 4.28%. (Updated August 2, 2026.)
Is Bank of America a good savings rate? Not really. At 0.04% it trails the 4.28% best available rate, leaving about $1,061 a year on the table on a $25,000 balance.
The gap, in your dollars
At 0.04%, $25,000 earns $10/yr here versus $1,071/yr at the field leader — a $1,061/yr difference.
See your exact number →Higher-paying alternatives we track
Rates subject to change. Verify before switching.
Frequently asked questions
What is Bank of America's savings account interest rate?▾
Bank of America pays 0.04% APY on its savings account as of August 2, 2026, based on rates SwitchWize tracks across 103 banks.
Is Bank of America's savings rate good?▾
Bank of America's 0.04% ranks in the bottom quartile of tracked banks. The best available rate is 4.28% and the FDIC national average is 0.38%.
Which banks pay more than Bank of America?▾
Higher-paying tracked options include america first fcu, applied, citizens trust. Compare rates at /banks to find the best current option.
General information only. Rates change frequently; verify directly with the institution before making financial decisions. SwitchWize is not a bank and does not provide financial advice.