What is Bank of America's current CD rate?

As of May 2026, Bank of America offers two types of CDs: standard 'Fixed Term CDs' (paying 0.01%–0.03% APY on most terms) and 'Featured CDs' — promotional rates on specific terms that can reach 4.50%–4.75%+ APY. Standard Bank of America CD rates are among the lowest of any major bank. Featured CD rates, when available, are competitive. Always check bankofamerica.com for the current Featured CD offer before opening an account.

Does Bank of America have good CD rates?

Bank of America's standard Fixed Term CD rates are extremely low — 0.01%–0.03% APY — making them among the worst in the industry. However, Bank of America periodically offers Featured CDs at significantly higher rates on select terms. If a Featured CD is currently available at 4.00%+ APY, it can be competitive. Outside of Featured CDs, you'll earn far more at an online bank or credit union.

What is the minimum deposit for a Bank of America CD?

Bank of America CDs require a minimum deposit of $1,000. There is no minimum balance fee, but the low standard rates on Fixed Term CDs mean the opportunity cost of keeping money there is significant compared to online alternatives.

What is the early withdrawal penalty for a Bank of America CD?

Bank of America's early withdrawal penalty depends on the term. For CDs of 12 months or less, the penalty is 90 days of interest. For CDs of 12 months to 5 years, the penalty is 180 days of interest. On a standard Bank of America CD earning 0.01% APY, the penalty is minimal in dollar terms — but if you have a Featured CD at 4.50% APY, the 180-day penalty on $10,000 would be approximately $221.

What is a Bank of America Featured CD?

A Bank of America Featured CD is a promotional certificate of deposit offered at a rate significantly above Bank of America's standard Fixed Term CD rates. Featured CDs are available for limited periods on specific terms (often 7, 10, 13, or 25 months). They require a minimum deposit of $1,000 and are only available to customers opening new money (not rolling over an existing BofA CD). When a Featured CD is available, it can offer rates competitive with online banks.

Bank of America CD Rates 2026 — Current APYs, Terms, and Alternatives

Bank of America CD rates in May 2026 split into two very different products: standard Fixed Term CDs paying as little as 0.01% APY, and Featured CDs — promotional offers that can reach 4.50%–4.75%+ APY on specific terms. The difference is enormous: $10,000 in a standard BofA CD earns roughly $1 per year, while $10,000 in a Featured CD earns up to $475.

Rates shown are approximate as of May 2026. Featured CD availability and rates change frequently — verify at bankofamerica.com before opening an account.

Bank of America CD Rates — May 2026

Standard Fixed Term CDs

CD Term	Standard APY (Est.)
28 days	0.01%
3 months	0.01%–0.03%
6 months	0.01%–0.03%
1 year	0.01%–0.03%
18 months	0.01%–0.03%
2 years	0.01%–0.03%
3 years	0.01%–0.03%
5 years	0.01%–0.03%

Featured CDs (Promotional — When Available)

CD Term	Featured APY (Est.)	New Money Required
7 months	4.50%–4.75%+	Yes
10 months	4.50%–4.75%+	Yes
13 months	4.50%–4.75%+	Yes
25 months	4.00%–4.40%+	Yes

Featured CDs are not always available. Check bankofamerica.com for current promotions. “New money” means funds transferred from an external bank — existing BofA deposits typically do not qualify.

What $10,000 Earns at Bank of America

CD Type	Rate	Interest on $10K (12 months)	Total at Maturity
Standard Fixed Term	0.03%	$3	$10,003
Featured CD (when available)	4.65%	$465	$10,465
Top online bank	4.70%	$470	$10,470

The standard Fixed Term CD at Bank of America earns $3 on $10,000 over a year — less than a single tank of gas. A Featured CD, when available, closes the gap with online banks almost entirely.

Bank of America CD Key Terms

Minimum deposit: $1,000
FDIC-insured: Yes, up to $250,000 per depositor
Early withdrawal penalty:
- 12 months or less: 90 days of interest
- Over 12 months to 5 years: 180 days of interest
Auto-renewal: Yes — at the current standard rate (not the Featured rate) unless you act during the grace period
Grace period: 7 calendar days after maturity
Opening options: Online, by phone, or in branch

The Featured CD Strategy

Bank of America’s Featured CDs follow a similar pattern to Citibank’s promotions:

Offered for limited windows on non-standard terms (7 months, 13 months, 25 months)
Require “new money” from outside Bank of America
Offer rates that can rival online banks

The key watch-out: Featured CDs auto-renew into a standard Fixed Term CD at the current standard rate (0.01%–0.03%), not the promotional rate. The 7-day grace period at maturity is your only window to act. Set a calendar reminder 30 days before maturity so you’re ready.

Bank of America vs. Other Banks — Standard CD Rates

Bank	Standard 1-Year CD Rate (May 2026)	Minimum
Bank of America (standard)	~0.03% APY	$1,000
Chase (standard)	~0.05% APY	$1,000
Citibank (standard)	~0.10% APY	$500
Marcus by Goldman Sachs	~4.60% APY	$0
Ally Bank	~4.55% APY	$0
National average (FDIC)	~1.80% APY	Varies

Bank of America’s standard CD rate is at the very bottom of the industry. The only reason to use a standard BofA CD is extreme convenience or if you specifically need to keep funds within Bank of America for another reason.

Who Should Open a Bank of America CD?

A Bank of America CD makes sense when:

A Featured CD is available at a rate of 4.00%+ APY and you have new money to bring in from outside BofA
You have a Preferred Rewards status (Gold, Platinum, Platinum Honors) which may unlock marginally better rates or fee waivers
You want to consolidate accounts and accept a rate trade-off for simplicity

For savers focused purely on interest earnings, top online banks consistently outperform Bank of America’s standard rates without any promotional timing required.

Written by WealthVieu

WealthVieu researches and writes data-driven personal finance guides using primary sources including the IRS, Bureau of Labor Statistics, Federal Reserve, and Census Bureau.

The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy