Bank of America CD Rates Update

February 10, 2010

Here at Top CD Rates, we like to bring you the latest information, as it happens. It’s time to look at Bank of America CD rates, which we haven’t done in a while.

Bank of America is one of the largest banks in the United States. It did face some turbulent times in recent months but has managed to stay afloat and expand its business. Bank of America offers a number of investment options and certificates of deposit constitute a popular option.

Bank of America CD rates for the fixed high yield CD are as follows. The bank requires a minimum investment of $5,000 for CD and $2,000 for IRA accounts.

CD rates at Bank of America for a one year high yield promotional CD are currently accrued at 0.80% APY for general CD and 1.05% APY for IRA investment.

The certificate of deposit rates for a standard investment of 1-year will yield 0.65% APY whereas the 6-month investment is calculated at 0.35%. An 18-month investment will yield 0.85% whereas a 2-year investment will return 1.11%. A 3-year investment return s an APY of 2.01% and a CD of 4-years will also yield 2.01%. A 5-year CD yields the highest APY of 2.51% but the bank also offers a 10-year CD with an APY of 3.51%.

IRA investments yield the highest APYs at 3.76% for a 10-year investment. IRA also yields 2.75% for a 5-year investment and 2.25% for a 4-year CD.

Bank of America imposes penalties on early withdrawals and this rule is applied across all investments, including IRA investments. The bank can also limit the total investment amount to be less than $500,000 under special circumstances.

Posted in Bank of America CD rates