Bank of America offers both short term and long term CDs with terms ranging from seven days to ten years.  The minimum opening requirement for the bank CDs with a term of seven days to 27 days is $15,000.00.  The Bank of  America CD rates that are available on terms in excess of 28 days require only a $1,000.00 minimum deposit.

Bank of America also offers promotional CDs that generally have more competitive bank rates.  The Bank of America CD rates marketed as promotional bank CD rates are dependent on the region in which the account is opened.

Bank of America is currently offering the following three different promotional CD rates and terms in Illinois:
 
A one year CD rate is at 1.40%.  This CD rate requires a minimum investment of $5,000.00.  This CD rate applies to the one year term CD opened online through bankofamerica.com. 

A nine month Risk Free CD with a CD rate of  0.90%.  The Bank of America Risk Free CD allows the account holder the ability to access their funds prior to maturity without penalties.  The minimum deposit for this bank CD is also $5,000.00 and must be opened online only.

An Opt Up CD with an 18 month term CD that has a CD rate of 1.65%.  The Bank of America Opt Up CD allows the account holder the option to increase their CD rate one time after six months, if CD rates rise, with no added fees or extension to the CD term.  The minimum deposit for this bank CD is $10,000.00 and the CD account must be opened online.

Standard Bank of America CD rates are available with a variety of terms.  Normal conditions on the standard Bank of America CDs and CD rates include, for CD terms between 28 days and ten years, interest is compounded and credited monthly and can be withdrawn monthly without penalty. 

Bank of America CD rates are subject to change at the bank’s discretion.  For current CD rates and terms, call a bank representative at 888-827-1812.  Bank rates, CD rates and additional account details are posted on the Bank of America website which can be found at the following address: www.bankofamerica.com.

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