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A certificate of deposit typically earns higher interest than a traditional savings account. View Bank of America CD rates and account options.
- Featured CD
Annual Percentage Yield (APY) is accurate as of 04/24/2024...
- Fixed Term CD
Rates. Choose the desired term then the deposit amount to...
- Flexible CD
A Flexible CD from Bank of America offers competitive rates...
- Account Rates
Review Bank of America's interest rates and annual...
- IRAs
MLPF&S makes available certain investment products...
- Savings Accounts
Monthly Fee. We'll waive the monthly maintenance fee each...
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This article is about the Bankrate CD calculator, which helps to calculate the annual percentage yield (APY) and ending balance of a certificate of deposit (CD). It explains how APY is calculated, how much interest can be earned on a CD, when CDs pay interest and how they differ from savings accounts and money market accounts.
Use the Bankrate CD calculator to find out how much interest is earned on a certificate of deposit (CD). The calculator calculates the annual percentage yield (APY) and ending balance.
Enter the starting balance for your CD in the calculator.
Enter the total number of months for this CD to mature in the calculator.
Enter published interest rate, not APY, into the calculator. Future rates can't be predicted with certainty.
Choose frequency that interest income is added to account; more frequent compounding generates additional interest sooner. Check with financial institution about compounding frequency on particular CD.
The effective annual interest rate earned for this CD depends on compounding frequency and interest rate; use APY to compare CDs of different rates and frequencies .
People also ask
What are Bank of America Certificate of deposit (CD) rates?
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Apr 16, 2024 · Bank of America Fixed Term Certificates of Deposit have a minimum deposit of $1,000 and offer APYs ranging from 0.03% to 4.00% depending on term and balance. Another option is the Bank of...
- Ben Gran
- What is the current CD rate for Bank of America?Bank of America CD rates depend on the type of CD, term and the amount of money deposited. Rates range from 0.05% to 5.00% APY for the Featured CDs...
- What are some alternatives to saving with CDs?If you want a safe place to keep your savings, one option is a savings account. Savings accounts are FDIC-insured, but these demand deposit account...
- Do all CDs charge an early withdrawal penalty?It depends on the type of CD and financial institution. Some banks offer no-penalty CDs, which are a type of CD that doesn’t charge an early withdr...
- What is a CD ladder strategy?A CD ladder is a savings strategy to help maximize your yield—and provide more liquidity—by opening multiple CDs with different terms and maturity...
Apr 17, 2024 · 1-year: 0.03% APY. 3-year: 0.03% APY. 5-year: 0.03% APY. NerdWallet rating. Read review. Bank of America offers a wide range of terms for certificates of deposit and a low minimum deposit...
4 days ago · Bank of America certificate of deposit (CD) accounts stand out from other big bank offerings, with rates on promotional Featured CDs that reach over 4%. But note that you can do...
