{"id":105337,"date":"2026-03-08T21:00:02","date_gmt":"2026-03-08T21:00:02","guid":{"rendered":"https:\/\/awardwallet.com\/blog\/?p=105337"},"modified":"2026-04-08T14:36:06","modified_gmt":"2026-04-08T14:36:06","slug":"bask-bank","status":"publish","type":"post","link":"https:\/\/awardwallet.com\/airlines\/american-aadvantage\/bask-bank\/","title":{"rendered":"What You Need to Know About Bask Bank’s Miles- and Cash-Interest Savings Accounts"},"content":{"rendered":"

Bask Bank burst onto the points and miles scene in early 2020 with a revolutionary new savings account. Instead of earning cash interest, the Bask Mileage Savings Account<\/a> offers travelers American Airlines AAdvantage\u00ae<\/sup> miles on their savings \u2014 all with no minimums or monthly account fees.<\/p>\n

Since that initial launch, Bask Bank also launched a traditional cash-earning interest account (the Bask Interest Savings Account<\/a>). Now, Bask Bank savers can choose between earning 1.75x miles per dollar saved annually or 3.90% APY interest.<\/p>\n

I am an unabashed fan of Bask Bank and personally hold my cash savings at Bask Bank<\/a>. That's why we've written quite a bit about these accounts on AwardWallet. But for those just getting started, here's a high-level recap of what you need to know about Bask Bank and its savings account options.<\/p>\n

Current Bask Bank Sign-Up Offer<\/span><\/h2>\n

New account holders can earn 15,000 bonus AAdvantage\u00ae<\/sup> miles when opening and funding a Bask Mileage Savings Account<\/a> by May 31, 2026<\/strong>. To earn this mileage bonus, you'll need to deposit $50,000 into your new Bask Mileage Savings Account within 15 business days of opening your account. Then, you'll need to maintain a minimum daily account balance of $50,000 for 180 consecutive days out of the first 210 days after account opening.<\/p>\n

Keep in mind that these \u201cbonus miles\u201d don't count as Loyalty Points<\/a> toward AAdvantage\u00ae<\/sup> status<\/a>. For those looking to earn AAdvantage\u00ae<\/sup> status, it's worth noting that Bask Bank has previously offered 5,000 Loyalty Points as a sign-up bonus on the Bask Mileage Savings Account — but it hasn't done so since 2022.<\/p>\n

For more coverage of the current welcome offer \u2014 and how to use those miles \u2014 check out our full post on this Bask Bank bonus miles offer<\/a>.<\/p>\n

Current Bask Bank Savings Rates<\/span><\/h2>\n

The Bask Mileage Savings Account<\/a> currently earns 1.75\u00a0AAdvantage\u00ae<\/sup> miles per dollar saved annually<\/strong>. At current rates, you'll earn 10,500 bonus AAdvantage\u00ae<\/sup> miles after saving $6,000 for a full year. That's around 875 AAdvantage\u00ae<\/sup> miles earned each month on a $6,000 balance, with the exact number depending on how many days are in the month.<\/p>\n

When the Bask Mileage Savings Account was originally launched, savers only earned 1 AAdvantage\u00ae<\/sup> mile per dollar saved annually. That earning rate grew all the way to 2.5 miles per dollar saved annually. However, Bask Bank has cut this earning rate as the Federal Reserve has cut rates — first to 2 miles per dollar saved annually on November 1, 2024. Then, Bask Bank dropped the rate to 1.75 miles per dollar saved annually, effective October 1, 2025.<\/p>\n

Meanwhile, the Bask Interest Savings Account<\/a> currently earns 3.90%\u00a0Annual Percentage Yield (APY)<\/strong>. That's a highly competitive earning rate that's well ahead of the measly 0.39% APY national average for savings accounts<\/a> (as of February 17, 2026).<\/p>\n

Since launching this account to existing account holders in October 2021, Bask Bank has raised the interest rate<\/a> 21 times — before starting to drop rates in October 2024 after the Federal Reserve cut interest rates:<\/p>\n

\n\n\n\n\t\n\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t\n\t
Effective Date <\/th>Bask Interest Savings Account APY<\/th>\n<\/tr>\n<\/thead>\n
11\/7\/2025<\/td>3.9%<\/td>\n<\/tr>\n
9\/19\/2025<\/td>4.05%<\/td>\n<\/tr>\n
8\/27\/2025<\/td>4.15%<\/td>\n<\/tr>\n
4\/18\/2025<\/td>4.2%<\/td>\n<\/tr>\n
2\/5\/2025<\/td>4.35%<\/td>\n<\/tr>\n
12\/20\/2024<\/td>4.5%<\/td>\n<\/tr>\n
11\/13\/2024<\/td>4.65%<\/td>\n<\/tr>\n
10\/1\/2024<\/td>4.85%<\/td>\n<\/tr>\n
10\/18\/2023<\/td>5.1%<\/td>\n<\/tr>\n
7\/31\/2023<\/td>5%<\/td>\n<\/tr>\n
6\/8\/2023<\/td>4.85%<\/td>\n<\/tr>\n
4\/27\/2023<\/td>4.75%<\/td>\n<\/tr>\n
4\/12\/2023<\/td>4.65%<\/td>\n<\/tr>\n
3\/20\/2023<\/td>4.45%<\/td>\n<\/tr>\n
3\/13\/2023<\/td>4.35%<\/td>\n<\/tr>\n
2\/3\/2023<\/td>4.25%<\/td>\n<\/tr>\n
1\/9\/2023<\/td>4.15%<\/td>\n<\/tr>\n
12\/13\/2022<\/td>4.03%<\/td>\n<\/tr>\n
11\/30\/2022<\/td>3.85%<\/td>\n<\/tr>\n
11\/2\/2022<\/td>3.60%<\/td>\n<\/tr>\n
10\/13\/2022<\/td>3.05%<\/td>\n<\/tr>\n
9\/26\/2022<\/td>2.75%<\/td>\n<\/tr>\n
9\/12\/2022<\/td>2.53%<\/td>\n<\/tr>\n
8\/16\/2022<\/td>2.20%<\/td>\n<\/tr>\n
7\/20\/2022<\/td>2.02%<\/td>\n<\/tr>\n
6\/23\/2022<\/td>1.61%<\/td>\n<\/tr>\n
4\/1\/2022<\/td>0.80%<\/td>\n<\/tr>\n
1\/20\/2022<\/td>0.70%<\/td>\n<\/tr>\n
10\/4\/2021<\/td>0.60%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/p>\n

Should You Earn Miles or Cash Through Bask Bank?<\/span><\/h2>\n

Both the Bask Mileage Savings Account<\/a> and Interest Savings Account<\/a> offer compelling earning rates. That can make it hard to choose between the two options.<\/p>\n

When deciding whether to earn AAdvantage\u00ae<\/sup> miles or cash interest on your savings, it's not as simple as dividing the interest rate (3.90% APY) by the current AAdvantage\u00ae<\/sup> earning rate (1.75) and comparing that to your personal valuation of AAdvantage\u00ae<\/sup> miles. That's because there's a tax advantage to earning AAdvantage\u00ae<\/sup> miles instead of interest.<\/p>\n

We will spare you the math. To help you figure out your break-even point, here's the cash interest rate you'd need to earn to justify earning cash interest instead of 1.75x AAdvantage\u00ae<\/sup> miles:<\/p>\n

\"Bask<\/p>\n

For instance, say you value AAdvantage\u00ae<\/sup> miles at 1.7 cents each, your marginal tax rate is 30%, and you have $10,000 in savings. You have the choice between earning:<\/p>\n