What is Bank of America's Savings Account interest rate?

Like many large, traditional banks, Bank of America’s savings account interest rate lags behind the national average. The APY on the Bank of America Advantage Savings account is 0.01%. In contrast, the FDIC reports the national average savings account interest rate as 0.46% as of November 20, 2023.

What is Bank of America APY?

Bank of America’s rates are similar to those at other large banks, but are much lower than what many online institutions offer. (The best savings APYs are around 3% and higher.) 0.01%. The average national rate for savings accounts is 0.46% APY. $8, waived for the first six months. Be a member of the Preferred Rewards Program.

Does Bank of America pay interest?

Bank of America has other savings options, but they don’t earn much interest, either. You can open a standard Bank of America CD with a $1,000 minimum. CD terms range from 28 days to ten years. Rates may vary based on term length and deposit amount. They start at 0.03% APY and don’t increase much from there.

How do I contact bank of America customer assistance?

Bank of America customer assistance can be reached via phone Monday to Friday from 8 a.m. to 8 p.m. ET. Bank of America offers loans for new and used vehicle purchases along with refinancing loans.