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Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next. Bankrate follows a strict , so you can trust that we’re putting your interests first. All of our content is authored by and edited by , who ensure everything we publish is objective, accurate and trustworthy. Our banking reporters and editors focus on the points consumers care about most — the best banks, latest rates, different types of accounts, money-saving tips and more — so you can feel confident as you’re managing your money. Bankrate logo Editorial integrity
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Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. 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. earned 3.2 out of 5 stars in Bankrate’s review across its deposit products. Its CDs earned a 2.0 rating. Bank of America CD rates
BofA 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 that Bank of America has to offer. 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 Standard Term CD 28-179 days* 0.03% 0.03% $1,000 Standard Term CD 6-11 months 0.03% 0.03% $1,000 Standard Term CD 12-17 months 0.03% 0.03% $1,000 Standard Term CD 18-23 months 0.03% 0.03% $1,000 Standard Term CD 24-35 months 0.03% 0.03% $1,000 Standard Term CD 36-47 months 0.03% 0.03% $1,000 Standard Term CD 48-59 months 0.03% 0.03% $1,000 Standard Term CD 60-119 months 0.03% 0.03% $1,000 Standard Term CD 120 months 0.03% 0.03% $1,000 Note: Annual percentage yields (APYs) shown are as of Jan. 24, 2022, for accounts opened in New York and may vary by region. *IRA CDs are not available for terms 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 Bank of America CD can help grow your savings, but many banks offer . Limelight Bank, for example, offers 0.45 percent APY on a six-month CD. Other savings options at Bank of America
As a , Bank of America offers a range of products to help build your savings, including IRA products for retirement and savings accounts for minors. But better rates on can be found elsewhere. Learn more
SHARE: Libby Wells covers banking and deposit products. She has more than 30 years’ experience as a writer and editor for newspapers, magazines and online publications. David Schepp is a wealth editor for Bankrate, focusing on deposits and consumer banking content. Related Articles