Featured CDs offer a higher APY but require a higher balance. Looking for a full range of investment choices? A Certificate of Deposit is a type of savings account that has a set interest rate and withdrawal date. While the minimum deposit to open a standard CD at B of A is low, there is a trade-off: The yields offered on Bank of America’s CDs are relatively low compared to other banks’ offerings. Member FDIC. Please enter the zip code for your home address so we can give you accurate rate and fee information for your location. Annual Percentage Yield (APY) is accurate as of 01/21/2021 and applies to the initial term of a new Standard Term CD. Bank of America's customer service and feature set have been absolutely appalling over the 8+ years that I have been with the bank. For 2 year Bank of America CDs, would consider the medium term policy directions and forecasts of the federal reserve in conjunction with its net interest … Longer-term certificates may have a withdrawal penalty of up to 365 days of interest. We maintain a firewall between our advertisers and our editorial team. A Red Ventures company. The minimum balance required to open this CD is $1,000. There are slightly better … Bank of America offers a Featured CD and a Standard Term CD. While we adhere to strict Choose the desired term, then the deposit amount to see rate options. The special rate is a promotional online CD rate and the minimum opening balance is $5,000. Annual Percentage Yield (APY) is accurate as of 01/21/2021 and applies to the initial term of a new Featured CD. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Its time deposit CD minimum requires $1000 to open. Find out whether the fees and interest rates are better at … Get unlimited access to our network of financial centers. Lock in a higher rate with a larger opening deposit, Set your own term with a smaller opening deposit. Certificates of Deposit - Branch Banks 2021. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. We may limit the amount you deposit in one or more CDs to a total of $1,000,000 ($250,000 for CDs opened through bankofamerica… Once you've chosen a term and made your deposit, your rate is fixed for the length of your term. Term lengths are available from as short as … These ads are based on your specific account relationships with us. Bankrate.com is an independent, advertising-supported publisher and comparison service. Fixed term CDs offer lower APYs but have a lower minimum deposit requirement. … The current national average 12 month rate is higher at 0.53% as reported by … Bank of America offers a range of certificates of deposit that could help you grow your savings with a well-known brand. Its CDs earned a 2.6 rating. While Bank of America does offer some pretty nifty features for their CDs (such as flexible term lengths and low minimum deposit amounts), we still can’t get over the fact that the interest rates offered on these CDs are much, much lower than the CDs that you can get elsewhere. 2 year ( 24 to 35 months) Bank of America CD interest rates are at 0.60% while the 2 year national average rate is 0.85%. It was calculated for the State of California and requires a minimum of $1000. For example, Limelight Bank currently offers 0.70% percent APY on a 1-year CD. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Find out today's checking, savings, IRA and CD account interest rates from Bank of America. A Certificate of Deposit is a type of savings account that has a set interest rate and withdrawal date. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. The financial market is constantly changing and interest rates fluctuate alongside it. The average rate for a 5-year CD is 0.36 percent. A jumbo CD is like a regular CD but requires a higher minimum deposit, and in exchange, it can pay a higher interest rate. These accounts typically provide security for longer-term savings and no monthly fees, but at the cost of access and liquidity of the funds. Weâll automatically reinvest your funds at the end of the term. To learn more about relationship-based ads, online behavioral advertising and our privacy practices, please review Bank of America Online Privacy Notice and our Online Privacy FAQs. Many banks offer higher rates that you shouldn’t ignore. FDIC insurance up to the applicable limits. Also, if you opt out of online behavioral advertising, you may still see ads when you sign in to your account, for example through Online Banking or MyMerrill. The rate of 0.05% is 1.15% lower than the average 1.2%. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Cd and a Standard term CD to give you the best rates offered financial... And applies to the initial term of a offers two kinds of CD account types: featured offer! And in what order products appear within listing categories the reviews that you shouldn ’ t ignore and applies the... 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