Bank of America Offering 48 Month CD at 3.01% APY

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Bank of America is offering a competitive 48-Month CD paying 3.01% APY. The bank is also offering a 12-Month High Yield CD special at 2.5% APY and a 9 Month Risk Free CD paying 2.5% APY.

Bank of America is offering a competitive 48-Month CD paying 3.01% APY.  That's a top 48-month CD rate according to the BestCashCow rate tables.  Unfortunately, Bank of America does not offer one rate for the entire country.  I checked a few states and the rate was available in MA, TX, FL but not in NY and CA.  The minimum balance to get this rate is $10,000.     

Bank of America is offering a 2.5% APY 12-Month High Yield CD special in select states.  That's also a competitive 2 year CD rate.  The minimum balance to get this rate is $5,000.

BankDeals also reported today that Bank of America is offering a 9 Month Risk Free CD paying 2.5% APY.  The base rate is 2.25% APY and the bank gives you an extra .25% return if you fund the CD with new money.  As a comparison, the top 6 month CD rate is 2.60% APY and the top 12 month CD rate is 2.95% APY.  The minimum balance to get this rate is $5,000. 

The risk free CD allows you to withdraw the money penalty free any time you want, as many times as you want as long as the balance does not go below $1,000.  It's actually a pretty compelling offer because it allows you to lock in a competitive rate and then withdraw most of the funds if rates go up or you need the cash.

As the big bank CD comparison rate chart shows, Bank of America is currently the most rate aggressive of the big three banks (Chase, Wells Fargo, Bank of America). 

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Today's Highest Online CD Rates

Bank Product Term Interest Rate (APY)
Navy Federal Credit Union 1-Year 0.85% APY with $100,000 minimum
Primary Bank 1-Year 0.80% APY with $1,000 minimum
Gateway First Bank 1-Year 0.75% APY with $25,000 minimum
Primary Bank 3-Year 1.00% APY with $1,000 minimum
USAA Federal Savings Bank 3-Year 0.91% APY with $175,000 minimum
Comenity Direct 3-Year 0.85% APY with $1,500 minimum
Primary Bank 5-Year 1.30% APY with $1,000 minimum
Navy Federal Credit Union 5-Year 1.25% APY with $100,000 minimum
USAA Federal Savings Bank 5-Year 1.11% APY with $175,000 minimum

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