The minimum balance required to open this CD is . 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. Bank of America offers a Featured CD and a Standard Term CD. Bank of America CDs are available in a range of term lengths between 1 and 120 months, making it easy to find an option that suits your financial goals. Bank of America Certificate of Deposit (CD) Rates Review Learn more about how Bank of America certificates of deposit (CDs) work. It’s highest rate tops at 1.1% APY for its 84-month term. Member FDIC. The First National Bank of America CD currently offers a fixed 0.75% APY on its three-year CD. © 2020 Bank of America Corporation. Best For. These ads are based on your specific account relationships with us. You can open a Standard Term CD with just $1,000, but you will need $10,000 to open a Featured CD… Ally’s one-year CD 0.75% APY outperforms Bank of America’s 0.03% … Ally High Yield Certificate of Deposit. A CD with Bank of America can help you grow your savings, but you are not working with the best rates on the market. However, certificates of deposit lock in your money for a predetermined period of time in exchange for a higher interest rate. They’re known for offering some of the highest CD rates. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation. © 2021 Bankrate, LLC. Bankrate is compensated in exchange for featured placement of sponsored products and services, or your clicking on links posted on this website. Current 12 month (12 to 17 month) bank CD rates at Bank of America are 0.45% with a CD yield of 0.45%. Featured CDs offer a higher APY but require a higher balance. Their term length options are almost identical. Bank of America offer 2 CD products: the Risk Free CD and the Standard Term CD. We do not include the universe of companies or financial offers that may be available to you. Min Deposit. The minimum balance required to open this CD is $1,000. Bank of America offer 2 CD products: the Risk Free CD and the Standard Term CD. Equal Housing Lender new window. The tiered rates on the bank’s Advantage Savings account are based on how much money you park in the account: the bigger your balance, the more interest you can earn. We value your trust. For a limited time, Bank of America is offering a High Yield 7 month Certificate of Deposit (CD) that currently yields 4.11%. 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%. Bank of America offers CDs with a range of term lengths to help you build your savings based on your timeline. While we adhere to strict Many banks offer higher rates that you shouldn’t ignore. Many banks offer higher rates that you shouldn’t ignore. Here’s an explanation for and U.S. Trust Company of Delaware. According to Bankrate’s most recent national survey of banks and thrifts, the average rate for a 1-year CD is 0.21 percent. At Bankrate we strive to help you make smarter financial decisions. A jumbo CD is like a regular CD but requires a higher minimum deposit, and in exchange, it can pay a higher interest rate. Relationship-based ads and online behavioral advertising help us do that. Therefore, this compensation may impact how, where and in what order products appear within listing categories. The 'Fed' who sets the 'fed funds rate' and provides economic forecasts on inflation can influence significantly whether Bank of America raises, lowers or keeps unchanged its for CDs. APY. Bankrate.com is an independent, advertising-supported publisher and comparison service. Passive income ideas to help you make money, Best age for Social Security retirement benefits, much higher rates on savings accounts elsewhere, Privacy policy / California privacy policy. Terms and conditions apply. Before we open your Standard Term CDFeatured CD, choose your: For deposits over $250,000, visit a financial center to open your account. These accounts typically provide security for longer-term savings and no monthly fees, but at the cost of access and liquidity of the funds. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Bank of America offers its personal banking customers a variety of products and services, including: checking accounts, savings accounts, CDs, loans and investments. None. … Our editorial team does not receive direct compensation from our advertisers. 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