Chase vs. Bank of America

Logos by Chase and Bank of America; Illustration by Hunter Newton/Bankrate

Chase and Bank of America are the largest banks in the U.S. measured by total assets. As such, both banks boast large branch networks that encompass most of the country and a wide range of deposit accounts, including certificates of deposit, checking and savings accounts.

But while Chase and Bank of America share many commonalities, their deposit account offerings can be vastly different. Here’s a breakdown of Chase and Bank of America, compared by account type.

Chase vs. Bank of America: Overview

Chase vs. Bank of America: Comparing savings accounts

Both Chase and Bank of America offer paltry yields on their savings accounts, meaning these accounts won’t do much to help grow your savings. That said, the banks have a wide range of offerings with many differences for each account.

Chase offers two main savings accounts: Chase Savings and Chase Premier Savings.

Bank of America has just one savings account called Advantage Savings. The account is somewhat tiered — meaning the more you deposit, the higher yield you’ll earn — but the higher tiers require you to become a Preferred Rewards member. You can qualify if you have an eligible Bank of America personal checking account and a three-month combined average daily balance of $20,000. You can also qualify if you have $20,000 or more in qualifying Merrill investment accounts.

Note: Annual percentage yields (APYs) shown are as of June 25, 2024, and may vary by region for some products.

Chase vs. Bank of America: Comparing certificates of deposit

Both Chase and Bank of America offer a large range of CDs with various terms and yields. Chase offers standard CDs, but you can earn more if you qualify for a relationship rate. Bank of America offers featured CDs with more competitive yields in addition to standard CDs, which generally offer low yields.

*To earn the highest APY for some terms, you must have a linked eligible Chase checking account and $100,000 in deposits.

Note: Annual percentage yields (APYs) shown are as of June 25, 2024, and may vary by region for some products.

Chase vs. Bank of America: Comparing checking accounts

Both Chase and Bank of America have a host of checking account options that will appeal to a wide range of consumers, depending on individual needs. The two we’ve reviewed here are Chase Total Checking and Bank of America Advantage Plus Checking. The accounts are very similar, but you’ll want to watch out for fees, which can be drastically different depending on the account.

Chase vs. Bank of America: Banking experience

You’ll get a similar experience whether you bank at Chase or Bank of America. They’re the largest banks in the U.S., so you’ll find plenty of ATMs and branches scattered across the country. Moreover, both banks have highly rated mobile apps that help you track and manage your money.