High-yield savings, ranked by APY
As of November 9, 2026, the top high-yield savings accounts pay at least 100 times Bank of America's 0.04% APY. Leader Bank and Axos Bank pay the most, 5.00%, but both have requirements. EverBank pays 4.20% with no requirements (for new accounts only).
† Requirements
- Leader Bank: $1,000 a month in direct deposits and a Leader Bank checking account. 5.00% guaranteed through Dec 31, 2026.
- Axos ONE Savings: $1,500 a month in direct deposits and an Axos ONE Checking account. 5.00% is a promotional rate.
- SoFi: Direct deposit (or $5,000 in deposits a month) and a SoFi checking account. 4.40% through Dec 31, 2027, then 3.30%.
- Axos Summit Savings: Requirements are listed on Arca's rates page. 4.01% is a promotional rate.
National average · FDIC, published monthly. FDIC, as of September 2026
| Rank | Bank | APY |
|---|---|---|
| 1 | Leader Bank (requirements below) | 5.00% |
| 2 | Axos ONE Savings (requirements below) | 5.00% |
| 3 | SoFi (requirements below) | 4.40% |
| 4 | EverBank (no requirements) | 4.20% |
| 5 | Axos Summit Savings (requirements below) | 4.01% |
| — | Bank of America (your current bank) | 0.04% |
What you'd earn at each, by balance.
As of Nov 9, 2026, $10,000 in savings earns $4 a year in Bank of America Advantage Savings (0.04% APY) and $420 in a top HYSA such as EverBank Performance Savings (4.20% APY).
| Balance | Bank of America0.04% | Leader Bank5.00%* | EverBank4.20% |
|---|---|---|---|
| $5,000 | $2 | $250 | $210 |
| $10,000 | $4 | $500 | $420 |
| $25,000 | $10 | $1,250 | $1,050 |
| $50,000 | $20 | $2,500 | $2,100 |
| $100,000 | $40 | $5,000 | $4,200 |
*Leader Bank Zeugma Plus High Yield Savings pays 5.00% APY only with a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit, plus other qualifying requirements. Leader Bank Zeugma Plus High Yield Savings's 5.00% APY is a promotional rate through December 31, 2026; after that the rate may change. EverBank Performance Savings pays this rate to new accounts only. One year of interest at today’s APY (balance × APY), rounded to whole dollars. All accounts are FDIC insured up to $250,000. | |||
Personalize the gap.
Compared at Bank of America's 0.04% standard APY vs. Leader Bank's 5.00% APY. Simple interest.
That's $2,480 over five years, just by switching where the dollars sit.
Why does Bank of America pay so little on savings?
Bank of America's retention strategy runs through its Preferred Rewards program, which ties account perks to total relationship value — checking, savings, and Merrill investment balances counted together — rather than rewarding the savings balance with a competitive rate. Those perks accrue to credit cards and investment products, not the savings APY, a deliberate structure designed to keep deposits captive across the Bank of America family. Standard Advantage Savings pays 0.04% APY as of November 9, 2026 and carries an $8 monthly fee that is waived only with a $500 minimum daily balance. The structure is engineered to make leaving feel costly, even when the math on a high-yield savings account favors leaving by a wide margin.
What about Bank of America's higher-tier savings accounts?
Bank of America's higher-tier product is Advantage Savings paired with Preferred Rewards status. The program runs four tiers based on combined assets: Gold ($20K+), Platinum ($50K+), Platinum Honors ($100K+), and Diamond ($1M+ at Merrill). Even at Platinum Honors — the highest tier most retail savers will reach — the savings rate does not meaningfully exceed the 0.04% APY standard rate as of November 9, 2026; Preferred Rewards directs its perks to credit-card and investment products rather than the savings APY. Moving savings to a HYSA does not affect Preferred Rewards status, which is calculated on combined checking and Merrill balances, not savings. Even at the top tier, the rate falls far short of any leading HYSA.
Top high-yield savings rates vs. Bank of America
On a $10,000 balance, Zeugma Plus High Yield Savings at Leader Bank (5.00% APY) earns about $500 a year. It is a promotional rate that requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Bank of America Advantage Savings (0.04% APY) earns about $4.
| Account | Max APY ↓ | Yearly interest on $10,000 | Bank site |
|---|---|---|---|
Zeugma Plus High Yield Savings Leader Bank · Member FDIC Requirements: Linked checking · Direct deposit · +4 more | 5.00% APY 2.50% without requirements | $500 a year on a $10,000 balance | Visit site |
See details for Zeugma Plus High Yield SavingsZeugma Plus High Yield Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account, direct deposit of $1,000+/mo, and a minimum opening deposit. Earn 5.00% APY as a promotional rate through December 31, 2026; after that the rate may change.
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Axos ONE® Savings Axos Bank · Member FDIC Requirements: Linked checking · Direct deposit · +2 more | 5.00% APY 1.00% after the intro period | $500 a year on a $10,000 balance | Visit site |
See details for Axos ONE® SavingsAxos ONE® Savings pays up to 5.00% APY as of November 9, 2026, and requires a linked checking account and direct deposit or qualifying deposits. Earn 5.00% APY now, dropping to 1.00% APY once the intro period ends.
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SoFi High-Yield Savings Account SoFi · Member FDIC Requirements: Linked checking · Direct deposit New accounts only | 4.40% APY 3.30% after Dec 31, 2027 | $440 a year on a $10,000 balance | Visit site |
See details for SoFi High-Yield Savings AccountSoFi High-Yield Savings Account pays up to 4.40% APY as of November 9, 2026, for new accounts, and requires a linked checking account and direct deposit or qualifying deposits. Earn 4.40% APY now, dropping to 3.30% APY when the intro period ends on December 31, 2027.
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EverBank Performance Savings EverBank · Member FDIC Full rate, no requirements New accounts only | 4.20% APY | $420 a year on a $10,000 balance | Visit site |
See details for EverBank Performance SavingsEverBank Performance Savings pays 4.20% APY as of November 9, 2026, for new accounts, with no minimum balance, no direct deposit required, and no linked checking account required.
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Axos Summit Savings Axos Bank · Member FDIC Requirements apply — see details New accounts only | 4.01% APY 3.75% after the intro period | $401 a year on a $10,000 balance | Visit site |
See details for Axos Summit SavingsAxos Summit Savings pays up to 4.01% APY as of November 9, 2026, for new accounts. The qualifying conditions are listed below. Earn 4.01% APY now, dropping to 3.75% APY once the intro period ends.
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For reference Bank of America Advantage Savings Verified by Arca on . Bank of America's rate page (opens in a new tab) | 0.04% APY | $4 a year on a $10,000 balance | |
One year of interest on $10,000 at today's APY, rounded to the dollar. Each bank provides its own FDIC insurance; Arca is not a bank and does not hold deposits.
See all current rates →Questions, answered.
What is Bank of America's current savings account APY?
Bank of America's standard savings account pays 0.04% APY as of November 9, 2026. On a $10,000 balance, that earns $4 per year, versus roughly $500 at Leader Bank, which pays 5.00% APY, a promotional rate, and requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Source: Arca Savings, updated November 9, 2026.
Will moving savings affect my Bank of America checking or credit card?
No. Opening a high-yield savings account at Axos Bank, SoFi, Marcus by Goldman Sachs, or American Express High Yield Savings has no impact on your Bank of America checking account, credit cards, or Preferred Rewards status. Source: Arca Savings, updated November 9, 2026.
Is a high-yield savings account as safe as Bank of America?
Yes. Axos Bank, Marcus by Goldman Sachs, SoFi, and American Express High Yield Savings are all FDIC insured up to $250,000 per depositor per institution as of November 9, 2026 — the same protection you have at Bank of America, regardless of whether the bank has physical branches. Source: Arca Savings, updated November 9, 2026.
Can I keep my Bank of America account when I switch?
Yes. Most people open a new account at Axos Bank, SoFi, or Marcus by Goldman Sachs, transfer the bulk of their savings, and keep their Bank of America account open with a small balance for any linked automatic payments. Source: Arca Savings, updated November 9, 2026.
Does Bank of America have a high yield savings account?
No. Bank of America's only consumer savings product is Advantage Savings, paying 0.04% APY as of November 9, 2026. Leader Bank pays 5.00% APY, a promotional rate, and requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions: $500 a year on a $10,000 deposit, versus $4. Source: Arca Savings, updated November 9, 2026.
What is Bank of America's official Advantage Savings APY for 2026?
Bank of America publishes Advantage Savings at 0.04% APY as of November 9, 2026. Preferred Rewards status does not raise that rate, even at the Platinum Honors tier, which requires $100,000 or more in combined Bank of America and Merrill balances. Leader Bank pays 5.00% APY, a promotional rate, and requires a linked checking account, direct deposit of $1,000+/mo, a minimum opening deposit, and other conditions. Source: Arca Savings, updated November 9, 2026.
How much interest does Bank of America pay per month on $10,000?
Bank of America pays about $0.33 per month on a $10,000 savings balance — $4 a year at 0.04% APY as of November 9, 2026. EverBank Performance Savings (for new accounts only) pays about $35 a month, or $420 a year, on the same balance. The monthly difference is roughly $34.67. Source: Arca Savings, updated November 9, 2026.
Is Bank of America's savings account good for an emergency fund?
No — Bank of America Advantage Savings is safe but costly for an emergency fund. It pays 0.04% APY as of November 9, 2026, so a $10,000 emergency fund earns $4 a year, against $420 at EverBank Performance Savings (for new accounts only). Bank of America Advantage Savings also charges $8 a month unless you keep a $500 minimum daily balance. Both are FDIC insured to $250,000. Source: Arca Savings, updated November 9, 2026.
How do I calculate interest on a Bank of America savings account?
Multiply your balance by the APY, then divide by 100. Bank of America Advantage Savings pays 0.04% APY as of November 9, 2026, so a $10,000 balance earns $4 a year and a $100,000 balance earns $40. APY already includes compounding, so no separate compounding step is needed. Arca's free calculator does this for any balance and compares it against current high-yield rates. Source: Arca Savings, updated November 9, 2026.