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Bank of America 
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Certificate of Deposit (CD) Accounts
Did you know?
A CD layer typically earns higher interest than a traditional savings account
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Compare CD options
Featured CD accountEarly withdrawal penalty applies. See details below. | Fixed Term CD accountEarly withdrawal penalty applies. See details below. | Flexible CD accountEarly withdrawal penalty applies. See details below. | |
|---|---|---|---|
Minimum opening deposit | $1,000 | $1,000 | $1,000 |
FDIC insured? | Deposits are insured by the FDIC up to $250,000 per depositor. | Deposits are insured by the FDIC up to $250,000 per depositor. | Deposits are insured by the FDIC up to $250,000 per depositor. |
Term | Choose from multiple options: 7 month to 37 month. These products will auto-renew into a Fixed Term CD for the same term. See available terms and rates layer | Choose any term: 28 days to 10 years. These products will automatically renew for the same term. See available terms and rates layer | Open a 12 month term online. The product will auto-renew into a 9 Month Flexible CD. |
Annual percentage yield (APY) | depending on balance and term | depending on balance and term | depending on balance and term |
Additional deposits allowed? | For Featured CD Account No additional deposits until maturity | For Standard Term CD AccountNo additional deposits until maturity | For Standard Term CD AccountNo additional deposits until maturity |
Early withdrawal penalty? | An early withdrawal penalty applies to any withdrawal you request outside of the grace period, which begins on the maturity date of your CD. If your account has not earned enough interest to cover an early withdrawal penalty, we deduct any interest first and take the remainder of the penalty from your principal. For more detail about the penalty calculation and how grace periods are determined, see Deposit Agreements and Disclosures and Deposit Rate Sheet. | An early withdrawal penalty applies to any withdrawal you request outside of the grace period, which begins on the maturity date of your CD. If your account has not earned enough interest to cover an early withdrawal penalty, we deduct any interest first and take the remainder of the penalty from your principal. For more detail about the penalty calculation and how grace periods are determined, see Deposit Agreements and Disclosures and Deposit Rate Sheet. | We will waive the early withdrawal penalty except in connection with any withdrawals you request within the first 6 days of the account term (or the first 6 days following any partial withdrawal). See Deposit Agreements and Disclosures and Deposit Rate Sheet for more detail about the penalty calculation. |
What is a CD (Certificate of Deposit)?
A CD (certificate of deposit) is a type of deposit account that’s payable at the end of a specified amount of time (referred to as the term). CDs generally pay a fixed rate of interest and can offer a higher interest rate than other types of deposit accounts, depending on the market. These accounts typically provide security for longer-term savings and no monthly fees, but at the cost of access and liquidity of the funds.
What you'll get with any CD account
Locked rates
Once you've chosen a term and made your deposit, your rate is fixed for the length of your term. Early withdrawal penalty applies.
Automatic renewals
We’ll automatically reinvest your funds at the end of the term. You’ll get a maturity notice beforehand in case you'd rather redeem your CD.
Other savings accounts available
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Why choose Bank of America?
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Great! Terms available for Fixed Term CDFeatured CD:Fixed Term CDFeatured CDFlexible CD
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Before we open your Fixed Term CDFeatured CDFlexible CD, choose your:
Terms available for Fixed Term CDFeatured CD:
For deposits over $250,000, visit a financial center to open your account.
Fixed Term CDFeatured CDFlexible CD ( )
| Amount | Interest Rate | APYAnnual Percentage Yield (APY) |
|---|
Open now Explore more Featured CD rates
For deposits over $250,000, visit a financial center to open your account.
| Amount | Interest Rate | APYAnnual Percentage Yield (APY) |
|---|
Rates
Choose the desired term, then the deposit amount to see rate options.For deposits over $250,000, visit a financial center to open your account.
| Amount | Interest Rate | APYAnnual Percentage Yield (APY) |
|---|
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- Phone number: 844.375.7027
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