Bank of America offers a range of certificates of deposit that may appeal to customers looking for a bank with a nationwide footprint. The minimum deposit to open a standard CD is reasonable at $1,000, but there’s a trade-off: Yields offered on Bank of America’s CDs are relatively low compared with other banks’ offerings.

Bank of America CD rates

Bank of America offers three types of CD accounts:

  • Standard Term CDs
  • Featured CDs
  • Flexible CDs

Featured CDs generally offer higher APYs than the standard CDs offered by Bank of America.

Here’s a closer look at the CDs Bank of America has to offer.

Account Term APY Minimum deposit
Featured CD 7 months 4.75% $1,000
Featured CD 10 months 0.05% $1,000
Featured CD 13 months 4.30% $1,000
Featured CD 25 months 3.00% $1,000
Featured CD 37 months 0.05% $1,000
Standard Term CD 28 – 89 days 0.03% $1,000
Standard Term CD 90 – 179 days 4.00% $1,000
Standard Term CD 6 – 120 months 0.03% $1,000
Flexible CD 12 months 3.51% $1,000

Note: Annual percentage yields (APYs) shown were last updated on May 13, for accounts opened in New York and may vary by region.

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 Bank of America CD can help grow your savings, but many banks offer higher CD rates.

The top six-month CD is yielding around 5.30% APY as of May 23. Bank of America’s six-month CD – and most of its standard term CDs – are yielding well below the national average.

Other savings options at Bank of America

As a big bank, Bank of America offers a range of products to help build your savings, including IRA CDs for retirement. But better rates on CDs can be found elsewhere.