Highest CD Rates Info

As we look at banks that are changing, Highest CD Rates Info has noticed that some are changing for the better and others are not. Most of the time, it is up to you to decide which is happening with a particular bank, since some people have different needs than others. Today, we’re looking at Bank of America CD rates, which we haven’t done for some time. You decide of the change is for the better.

*Editor’s Note: this is an older article, and we have recently updated our research about current Bank of America CD Rates.  For our latest article on Bank of America Certificate of Deposit Rates, please see the following page: Bank of America CD Rates

The biggest change in BoA CD rates is what is being offered. Rather than offering a tier of rates according to terms and deposits, as most banks do, the new Bank of America certificate of deposit rates are based only on the type of CD you choose. Your terms (length) are up to you and the amount of deposit depends on minimum balance requirements for each CD type.

That might sound complicated or hard to understand, but let’s look at current CD rates at Bank of America and what’s offered today.

A High Yield CD is an online-only offer for BoA CD rates online. This account has a minimum balance requirement of $5,000 to open and maintain, but the term (length) of the CD is up to you. You can get a 3 month or longer term, at your discretion, and it will pay a fixed 1.55% annual percentage yield (APY). No matter the length of term.

The other Bank of America CD rates offered are on Risk Free CD accounts. These have a $5,000 minimum deposit requirement and yield a 0.65% APY no matter the term (length) of the CD. They are risk free as you can open them for a three year term, but withdraw at any time without penalty. Hence the lower rate.

Bank of America is, of course FDIC insured.