Bank of America’s CD overview
- A mess of time period lengths
- No month-to-month charges
- CD charges aren’t aggressive
Bank of America’s foremost CD product is a Normal CD. These CDs supply many time period lengths starting from 28 days to 10 years, making them excellent in the event you’re constructing a CD ladder. You’ll be able to open a Normal CD for as little as $1,000, a lot lower than the $10,000 minimal required for its Featured CDs. Curiosity on Bank of America CDs is compounded and credited month-to-month.
Like most banks, Banks of America would not cost any upkeep charges on CD accounts.
Relying on the CD time period, you can pay a penalty of as much as 365 days’ curiosity in the event you withdraw funds earlier than the maturity date. Bank of America Normal CDs routinely renew at maturity. Prospects might want to change phrases, deposit or withdraw funds, or shut the CD account through the grace interval.