Banana plugs are easier to connect/disconnect if you do it often. Spade lugs are generally considered to be the more secure connection. Some banana plugs incorporate an adjustment screw locking them in place -- sort of defeating the concept while (possibly?) making them the spade lugs' equal. Give me a substantial, gold-electroplated, solid-copper alloy spade lug any day of the week and twice on Sundays, thank you.
Spade vs. banana plug
Is one better than the other if both versions are very well made terminations?