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

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

Account Term APY Minimum deposit
Featured CD 7 months 5.00% $1,000 
Featured CD 10 months 0.05% $1,000 
Featured CD 13 months 5.00% $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

Note: Annual percentage yields (APYs) shown were last updated on Dec. 5, 2023, 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 CDs are yielding around 5.55% APY as of Dec. 10, 2023.

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.