Rate updated · 65 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 65 banks SwitchWize tracks, where the best available rate is 4.10%. (Updated September 16, 2026.)
Is Bank of America a good savings rate? Not really. At 0.04% it trails the 4.10% best available rate, leaving about $1,016 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 $1,026/yr at the field leader — a $1,016/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 September 16, 2026, based on rates SwitchWize tracks across 65 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 4.10% and the FDIC national average is 0.38%.
Which banks pay more than Bank of America?▾
Higher-paying tracked options include usbank, washington savings bank, first citizens. 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.