Bank of America CD rates

1
WAYHOME studio/Shutterstock
Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .

Bank of America offers a range of certificates of deposit that could help you grow your savings with a well-known brand. 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 with other banks’ offerings.

Bank of America earned 3.2 out of 5 stars in Bankrate’s review across its deposit products. Its CDs earned a 2.6 rating.

Bank of America CD rates

B of A offers two types of CD accounts: Featured CDs and Standard Term CDs. Featured CDs offer a higher APY but require a higher balance. Standard Term CDs offer lower APYs but have a lower minimum deposit requirement.

Let’s take a closer look at the CDs that Bank of America has to offer. Note: These rates are for southeast Florida residents and could vary by state.

Account Term Interest rate APY Minimum deposit
Featured CD 7 months 0.05% 0.05% $10,000
Featured CD 10 months 0.05% 0.05% $10,000
Featured CD 13 months 0.05% 0.05% $10,000
Featured CD 25 months 0.05% 0.05% $10,000
Featured CD 37 months 0.05% 0.05% $10,000
Fixed Term CD 28-179 days* 0.03% 0.03% $1,000
Fixed Term CD 6-11 months 0.03% 0.03% $1,000
Fixed Term CD 12-17 months 0.03% 0.03% $1,000
Fixed Term CD 18-23 months 0.03% 0.03% $1,000
Fixed Term CD 24-35 months 0.03% 0.03% $1,000
Fixed Term CD 36-47 months 0.03% 0.03% $1,000
Fixed Term CD 48-59 months 0.03% 0.03% $1,000
Fixed Term CD 60-119 months 0.03% 0.03% $1,000
Fixed Term CD 120 months 0.03% 0.03% $1,000

Note: The APYs (Annual Percentage Yields) shown are as of Aug. 20, 2021. The APYs for some products may vary by region.

*IRA CDs are not available for a term less than six months.

How Bank of America CDs compare to top-yielding banks

Bank of America offers CDs with a range of term lengths to help you build your savings based on your timeline. A CD with Bank of America can help you grow your savings, but you are not working with the best rates on the market.

Many banks offer higher rates that you shouldn’t ignore. For example, Limelight Bank currently offers 0.55% percent APY on a 1-year CD. Research some of the best rates offered by financial institutions.

Other savings options at Bank of America

As a big bank, Bank of America offers a range of products to help you build your savings.

You can open IRA products through Bank of America to save for your retirement goals. Additionally, the bank offers savings accounts, including ones designed for minors. However, you can find much higher rates on savings accounts elsewhere.

Written by
Libby Wells
Contributing writer
Libby Wells is a contributor covering banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications.
Edited by
Banking editor