bank rates

Bank of America’s CD Rates About Average

A few days ago we were sitting around Bankaholic World Headquarters and someone wondered how long it had been since we touted a CD from Bank of America.

A long time, it turns out.

A check of the archives found that Bank of America’s CD rates haven’t warranted a single mention in the site’s four-year history.

So how much is the nation’s largest bank paying savers who drop by one of its 5,900 branches to buy a certificate of deposit?

Bank of America’s current “High Yield Promotional CD” earns 0.80% APY for 12 months.

That’s less than half what the best nationally available 1-year CDs are paying.

Here’s what it’s offering on other terms, followed in parenthesis by the top nationally available rate from our most recent CD Rates Leaderboard.

3-month CDs: 0.35% APY ( 1.35% APY)

6-month CDs: 0.35% APY (1.25% APY)

24-month CDs: 1.11% APY (2.02% APY)

36-month CDs: 1.60% APY (2.52% APY)

60-month CDs: 2.01% APY (3.29% APY)

The best thing you can say about those rates is that they’re about average, according to Bankrate’s most recent weekly survey of CD rates.

So if you’re willing to settle for average returns, you can count on finding them at Bank of America.

Click here to see Bank of America’s current rate sheet.

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  1. DealMaven said:
    on August 13th at 12:52 pm

    There are lots of new posts you’ll want to see on our Personal Finance blog. You can always reach it by clicking on the “Finance” tab at the top of every page.