What is Bank of America savings account interest rate?

Answer 1

0.2%

almost nothing

if you keep $100 in the bank for 1 year you will get only 20 cents interest

http://www.bankofamerica.com/deposits/checksave/index.cfm?template=save_regular

Interest ratesInterest is compounded daily and paid monthly. Regular Savings Account Interest RatesInterest RateAPY *All Balances 0.20% 0.20%

Actually, it is 2% written as 0.02. The above answer reads incorrectly as 20%. If banks paid out 20% we would make tons of interest $. As it stands, a 2% APR on $100. would yield a return of $2.00 on our initial investment leaving a total of $102.00 in our account at the end of one year.

--Man (second poster) you don't understand math, and look like an idiot by erroneously trying to correct the previous poster's *accurate* answer. The answer above doesn't read 20% (twenty percent) as you so ignorantly interpreted it; it reads just like it's written - 0.20% (two tenths of one percent). How you pulled 20% out of that is beyond me. You're grossly misinformed, and should not be spreading misinformation. As of 05/2011, the current BoA APY interest rate for savings (per the link provided by the original poster above), is 0.05% (five hundredths of one percent). So if you had $100 in for a year, you would earn 5 cents over the course of a year (100*0.0005 OR 100*0.05% = same answer - 5c). Go back to school.