Bank Of America Savings Account Review And Promotions

Find current promotions and bonuses for Bank of America Savings accounts here.

There are 3 savings account choices that I’ll review here as well.

BOA Savings review highlights:

• Savings account comparisons
• Current savings promotions
• See all my Bank of America reviews
  • See my Best Bank Promotions List

3 Bank Of America Savings Accounts Available:

There are three Savings accounts to choose from Bank of America.

Regular Savings Account:

• BOA’s basic savings account
• Mobile and Online Banking access
• Rate: 0.01% APY on all balances (check current rates)
• Minimum opening deposit: $25
• Eligible for Keep the Change enrollment: Yes (info below)
• Can be used for overdraft protection on linked BOA checking? Yes
• $5 Monthly Fee waived by meeting ONE of the following:
  • Maintain a $300 minimum daily balance
  • Link to your Bank of America Interest Checking® Account (waiver applies to first 4 savings accounts)
  • When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts)
  • To avoid the monthly maintenance fee you may also make combined monthly automatic transfers of $25 or more from your Bank of America checking account to your savings account during the immediately preceding statement cycle.
• Competitor Acccount(s): Chase Savings

Rewards Money Market Savings Account:

• Earns higher interest rate
• Mobile and Online Banking access
• Rate: 0.03% APY(Preferred Rewards clients eligible for higher rate)
• Minimum opening deposit: $25
• Eligible for Keep the Change enrollment: Yes (info below)
• Can be used for overdraft protection on linked BOA checking? Yes
• $12 Monthly Fee waived by meeting ONE of the following:
  • Maintain a $2,500 minimum daily balance
  • Link to your Bank of America Interest Checking® Account (waiver applies to first 4 savings accounts)
  • When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts)
• Competitor Acccount(s): Chase Savings

Custodial Savings Account:

• Savings account option for child
• Mobile and Online Banking access
• Rate: 0.01% APY on all balances (check current rates)
• Minimum opening deposit: $25
• Eligible for Keep the Change enrollment: No (info below)
• Can be used for overdraft protection on linked BOA checking? No
• $5 Monthly Fee waived by meeting ONE of the following:
  • Maintain a $300 minimum daily balance
  • To avoid the monthly maintenance fee you may also make combined monthly automatic transfers of $25 or more from your Bank of America checking account to your savings account during the immediately preceding statement cycle.

BOA Savings Keep The Change $250 Promotion

Bank of America’s Keep The Change program is available for the Regular Savings and Rewards Money Market Savings accounts. When you enroll in this program for free, your debit card purchases will be rounded up to the nearest dollar and that different is transferred from your checking to savings account.

For the $250 promotion, Bank of America will match that difference that is rounded up, up to $250 a year bonus.

• Coupon Link: Keep The Change Program
• Expiration: $250 Bonus match currently unavailable, although the savings program is still active.
• Bonus Amount: $250/year
• Related Promotions: BOA Checking Promos | BOA Business Promos
• Competitor Promotions:
  • Chase SavingsSM Promotions
  • Capital One 360 Savings Promotions
  • Discover Savings Promotions
• Account(s) Eligible: Regular Savings & Rewards Money Market Savings
• Availability: Nationwide
• Hard/Soft Inquiry: Soft
• Direct Deposit Requirement: N/A
• Monthly Service Fee: None for program; fee for savings account choice applies (can be waived as described above)

Unfortunately, promotions for Bank of America’s Savings accounts don’t come around often, but check back here for updates!