Bank of America CD Rates

Bank of America CD rates are very competitive right now, especially from a large bank. Current 7-month CD rates are at 3.55% APY, 13-month CD rates are at 4.00% APY and 25-month CD rates are at 3.00% APY. Bank of America is also offering a 10-month CD and a 37-month CD, both with pathetic low rates compared to the bank's other rates. The current 10-month CD rate and 37-month CD rate is 0.05% APY, why even offer CDs with a rate that low.

Bank of America, one of the largest banks in the United States, offers a range of CD accounts with varying terms and features, the complete list of current CD terms and CD rates are below. The minimum opening deposit for a CD account at Bank of America is $1,000. The maximum opening deposit allowed for a CD account open through is $250,000.

Bank of America's Preferred Rewards program offers customers with eligible accounts additional benefits, such as higher interest rates on CDs, fee waivers, and other perks. The rewards are tiered based on the customer's combined balance in Bank of America banking and/or Merrill investment accounts.

Current CD Rates at Bank of America

  • 7-Month CD 3.55% APY
  • 10-Month CD 0.05% APY
  • 13-Month CD 4.00% APY
  • 25-Month CD 3.00% APY
  • 37-Month CD 0.05% APY

Open a Bank of America CD Account

Bank of America CD Terms

When opening a CD account with Bank of America, it is essential to understand the specific terms and conditions that apply. Some of these terms include:

  1. Minimum opening deposit: To open a CD account with Bank of America, you must deposit a minimum of $1,000.
  2. Early withdrawal penalty: Withdrawing funds from your CD before the maturity date will result in an early withdrawal penalty. The penalty amount depends on the term length and the amount withdrawn.
  3. Grace period: Bank of America offers a 7-day grace period after the CD maturity date, during which you can withdraw funds, change the term, or add additional funds without any penalties.

Some of Bank of America CDs are an attractive investment option, if you're looking for a low-risk investment. Remember, CD accounts at Bank of America are insured by the FDIC for up to $250,000. Find out more or to open a Bank of America CD account go to:

Author: Brian McKay
April 21st, 2023

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