As 2025 approaches, Bank of America is set to continue offering a range of savings account options, alongside potential bonus incentives for new and existing customers. While specific interest rates and bonus offers for the upcoming year are subject to change, the bank’s current offerings provide insight into what account holders can expect. Bank of America remains a dominant player in the U.S. banking sector, known for its extensive branch and ATM network and a robust mobile banking application.
Key Takeaways
- Bank of America offers various checking and savings account options.
- Monthly maintenance fees can often be waived through specific balance requirements or program enrollments.
- The bank may offer sign-up bonuses for new checking accounts, typically requiring a qualifying direct deposit.
- The Preferred Rewards program offers tiered benefits based on combined balances, potentially impacting savings rates and fee waivers.
Bank of America Savings Account Interest Rates
While the provided sources do not detail specific interest rates for Bank of America savings accounts in 2025, it’s typical for large national banks to offer competitive, albeit often modest, Annual Percentage Yields (APYs) on their standard savings products. Customers enrolled in the Preferred Rewards program may be eligible for higher APYs, depending on their balance tier. It is advisable for consumers to check Bank of America’s official website closer to 2025 for the most current rate information.
Bank of America Bonus Offers
Bank of America has historically offered sign-up bonuses for new customers opening checking accounts. These promotions often require a qualifying direct deposit within a specified timeframe after account opening. For instance, a $300 bonus has been advertised for new checking account customers who meet direct deposit requirements. Information regarding specific savings account bonus offers for 2025 is not yet available, but customers should monitor the bank’s promotional pages for any new incentives.
Bank of America Checking Account Features
Bank of America provides several checking account options, including the Advantage SafeBalance Banking, Advantage Plus Banking, and Advantage Relationship Banking. Each account has different features, minimum deposit requirements, and monthly fees. For example, the Advantage SafeBalance Banking account has a $4.95 monthly fee, which can be waived by maintaining a $500 balance or being under 25. The Advantage Plus Banking account has a $12 monthly fee, waivable with a $1,500 daily balance or a $250 direct deposit. The Advantage Relationship Banking account, an interest-bearing option, has a $25 monthly fee that can be waived with a $20,000 combined balance. All accounts benefit from Bank of America’s mobile app and extensive ATM network. The Preferred Rewards program can also lead to waived fees and other benefits across various account types.
Sources
- Bank Of America Savings Bonus, Bankrate.
- Bank of America Checking Accounts, Bankrate.
- Bank of America Savings Account Interest Rates, Bankrate.
