Bank of America is one of the biggest banks in the US today. They have one of the largest client base and they offer numerous products to meet the needs of individuals and businesses. One of the well-known options for individuals is the savings accounts. There are two kinds of accounts and they are Growth Money Market savings account and regular savings account. Both the savings accounts come with ATM and online banking options. The growth market savings account even comes with a bonus rate. These Bank of America high yield savings accounts come with a lot of flexibility and good interest rates.
The Bank of America interest rates for a Growth Money Market savings account is 0.15% for a balance of less than $10,000. They also offer a 0.40% as bonus rate for customers who set up an automatic transfer of $250 or more from their Bank of America checking account or an automatic transfer of monthly interest payment from a Bank of America CD or a direct deposit of $250 or more. The Bank of America savings account rates for a balance between $10,000 and $25,000 is 0.35% while the bonus rate is 0.60%. The rates for balances from $25,000 to $49,999 is 0.45% and the bonus rate is 0.70%. It is 0.50% for a balance of $50,000 to $499,999 and 0.70% for a balance of over $500,000. The bonus rates for the same amount are 0.75% and 0.95% respectively. In the case of regular savings account, the rate is 0.10% for all balances. These competitive rates are one of the reasons for the popularity of the Bank of America high interest savings accounts.
