Bank of America Advantage Savings

Bank of America Advantage Savings is the savings account that pairs with BofA's Advantage Banking checking accounts and the Keep the Change round-up program. The interest rate is very low. The standard rate is 0.04% APY across all balance tiers, per Bank of America's published rate sheet effective October 14, 2026 (the Virginia sheet effective October 13, 2026 shows the same rate). Rates are published per location, and the figure here is from the Maryland sheet. At 0.04%, a $10,000 balance earns about $4 per year. The $8 monthly maintenance fee is waived for the first six months for new accounts, and after that with a $500 minimum daily balance, an Advantage Relationship Banking account, an owner under 25, or enrollment in Bank of America Rewards Preferred Plus, Honors or Premier, per the Personal Schedule of Fees effective August 7, 2026. Opening requires a $100 minimum deposit. Miss the waivers and the fee comes to $96 per year; at 0.04% it would take a balance of $240,000 to earn that much in interest. Preferred Rewards status is one way to waive the fee. Bank of America's Preferred Rewards program details and balance thresholds were not re-read for this review, so check them on bankofamerica.com before relying on them. At 0.04% this account earns very little interest: $25,000 earns about $10 a year. If you keep it for the checking relationship or branch access, keep enough to satisfy the fee waiver, and compare the rate against other FDIC-insured savings accounts before parking more here.