Bank of America CD Rates: Complete Guide to Fees, Returns & Better Alternatives

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BofA • FDIC • Bankrate • NerdWallet Verified

Plain-language answers about what Bank of America CDs actually pay, why the standard rates are so low, what Featured CDs offer, how early withdrawal penalties work, and what $10,000 or $100,000 earns compared to the best available rates today.

💡 10 Things Every Saver Should Know About Bank of America CDs

Bank of America is the second-largest bank in the United States and one of the most trusted institutions in the country. But trustworthy does not always mean the best rates. As of April 2026, Bank of America’s standard Fixed Term CD rates are among the lowest published by any major bank — starting near 0.03% APY for many terms. Its Featured (promotional) CDs are more competitive and reach up to approximately 3.25% APY. The national average for a 1-year CD is 1.89% APY as of April 7, 2026, while the top online banks are offering up to 4.20% APY. Knowing these numbers helps you make an informed decision about where your money works hardest.

1
Why are Bank of America’s standard CD rates so low? Large brick-and-mortar banks like BofA price in the cost of branch access, ATMs, and brand trust. Online banks pass overhead savings to customers as higher APYs. BofA’s standard Fixed Term CDs start near 0.03%.
This is the most common question about Bank of America CDs, and the answer is structural. BofA operates over 3,800 branches and 15,000 ATMs nationwide. That infrastructure costs money, and those costs are built into the gap between what depositors earn and what the bank earns on loans. Online banks like Ally, Marcus by Goldman Sachs, and American Express National Bank have virtually no branch overhead and consistently pass those savings to depositors in the form of higher APYs — sometimes by more than a full percentage point on the same term. For existing BofA customers who value convenience and consolidation, the bank’s Featured CDs offer a meaningfully better rate than its standard CDs and are worth checking first.
2
What does Bank of America actually pay on its Featured (promotional) CDs right now? Featured CDs at BofA currently offer up to approximately 3.25% APY on select promotional terms (7, 10, 13, 25, and 37 months) as of April 2026. These are significantly better than standard Fixed Term rates.
Bank of America’s Featured CDs are periodic promotional offers with non-standard term lengths (7, 10, 13, 25, 37 months) and higher rates than the regular lineup. GOBankingRates confirmed these are available as of March/April 2026 with a $1,000 minimum deposit. Featured CD rates change periodically and may vary by region. Always check bankofamerica.com/deposits/bank-cds for the most current published rates, as the specific APY for each term is not fixed and the promotional window can close. If you are an existing BofA customer, these Featured CDs are the most competitive option the bank offers.
3
Does Bank of America charge fees for a CD? No monthly or annual fees. The only cost is an early withdrawal penalty if you access your money before the CD matures. The Flexible CD (12-month no-penalty option) is the one exception.
Bank of America CDs carry no monthly maintenance fees and no annual fees. The penalty structure applies only when you withdraw funds before the maturity date. For standard Fixed Term and Featured CDs: terms under 90 days incur a penalty of all interest earned or 7 days’ interest (whichever is greater); terms of 90 days to 12 months = 90 days’ interest; terms of 12–60 months = 180 days’ interest; terms over 60 months = 365 days’ interest on the amount withdrawn. The Flexible CD (12-month term) allows withdrawal any time after the first 6 days without penalty — it is BofA’s no-penalty CD option.
4
How much will a $10,000 CD make in one year at Bank of America vs. the best available rate? At BofA’s standard rate (~0.03% APY): $10,003 — about $3 in interest. At a top online bank (~4.20% APY): $10,420 — about $420 in interest. The difference is $417 on the same $10,000.
This comparison makes the rate gap concrete and impossible to ignore. BofA’s standard 12-to-17-month Fixed Term CD at approximately 0.03% APY returns roughly $3 on $10,000 after one year. The best nationally available 1-year CD rates as of April 7, 2026 are near 4.20% APY (Bankrate), which returns approximately $420 on the same $10,000. A Featured CD at BofA at approximately 3.25% APY would return around $325. Simple interest formula: Principal × APY = Annual Interest. Compounding increases this slightly depending on the compounding frequency. The $10,000 calculation using simple interest at 4% = $400 (Chase educational example, April 2026).
5
What is the best CD rate for $100,000 right now? Top online banks are offering up to 4.20% APY (April 7, 2026), which earns $4,200 on $100,000 in one year. BofA’s Featured CDs at ~3.25% APY earn $3,250. The national 1-year average is 1.89%.
For a $100,000 deposit, the rate difference between BofA’s standard CD (~0.03% = $30/year) and the best available CD (~4.20% = $4,200/year) is $4,170 annually — a meaningful amount for any saver. FDIC insurance covers up to $250,000 per depositor, per bank, per ownership category, so a $100,000 CD at any FDIC-insured institution is fully protected. For amounts above $250,000, spreading deposits across multiple FDIC-insured institutions or using different ownership categories (individual, joint, IRA) maximizes coverage. Note that some large banks offer “Jumbo CDs” for $100,000+ deposits with slightly higher rates — BofA does not have a separate jumbo tier for personal accounts but the 6-month top rate from leading banks as of April 7 is approximately 4.15% APY (Bankrate).
6
What is Bank of America’s Flexible CD and how does it differ from a standard CD? The Flexible CD is BofA’s no-penalty option. 12-month term, $1,000 minimum. You can withdraw all funds at any time after the first 6 days without penalty. The trade-off is a lower APY than Featured CDs.
The Flexible CD solves the liquidity problem most people have with CDs. Because you can exit after day 6 with no penalty, it functions more like a high-yield savings account with a fixed rate for the term. The limitation: you cannot make partial withdrawals — you must withdraw the entire balance. Upon maturity, a 12-month Flexible CD automatically renews into a 3-month Flexible CD at a lower rate unless you act during the 7-day grace period. Set a calendar reminder for your maturity date. NerdWallet noted that this auto-renewal trap — Featured and Flexible CDs renewing at lower standard rates — is the most common way BofA CD holders inadvertently end up with much lower returns after the first term.
7
Are Bank of America CDs safe? Is my money guaranteed? Yes. All Bank of America CDs are FDIC-insured up to $250,000 per depositor, per ownership category. Your principal is guaranteed regardless of market conditions.
Bank of America, Member FDIC, is covered by the Federal Deposit Insurance Corporation, an independent agency of the U.S. government backed by the full faith and credit of the United States. The standard FDIC limit is $250,000 per depositor, per FDIC-insured bank, per ownership category. This means an individual and their spouse can together hold $500,000 at BofA in individually titled accounts and be fully covered. Adding an IRA CD creates another $250,000 ownership category. CDs are among the safest savings vehicles available — the rate of return is fixed, the principal is guaranteed, and federal insurance eliminates default risk. The trade-off is that you cannot lose money but also cannot exceed the fixed APY, regardless of how interest rates move during your term.
8
What happens at Bank of America when a CD matures? CDs automatically renew unless you act during the 7-day grace period. Featured CDs typically renew at a lower standard rate — not at the promotional rate. Always watch for the maturity notice.
This is the most financially consequential CD detail that most people miss. Bank of America sends a maturity notice before your CD expires. If you do not act within the 7-day grace period, your CD automatically renews into a new term at whatever rate BofA is currently offering for that term — which may be significantly lower than your original rate, especially for Featured CDs. NerdWallet explicitly flagged this: a Featured CD paying 3.25% APY may renew as a standard Fixed Term CD at 0.03%–0.10% APY. The solution: put your CD maturity date in your calendar today, and decide during the grace period whether to withdraw, move to a higher-rate institution, or renew on your terms.
9
Do I owe taxes on CD interest earned at Bank of America? Yes. CD interest is taxable as ordinary income in the year it is credited to your account (or paid), regardless of whether you withdraw the money. BofA sends a 1099-INT for interest over $10.
The IRS requires banks to report CD interest income on Form 1099-INT, which Bank of America will send you after each tax year in which you earned $10 or more in interest. That interest is taxed as ordinary income at your marginal federal tax rate, plus any applicable state income tax. One important detail: if you pay an early withdrawal penalty, that penalty amount is deductible and reduces your reportable taxable interest income. For IRA CDs specifically, the tax treatment differs: traditional IRA CD earnings are tax-deferred until withdrawal; Roth IRA CD earnings may be tax-free at qualified withdrawal. Consult a tax professional for advice specific to your situation — this guide provides general information only.
10
Is a Bank of America CD worth it, or should I look elsewhere? Worth it only if you value in-branch service and already bank with BofA, AND you use Featured CDs (not standard Fixed Term CDs). For maximum return, online banks consistently offer 4%+ APY vs. BofA’s 0.03%–3.25%.
The honest answer depends on what you value most. If you already have all your accounts at Bank of America, keeping a Featured CD there is convenient and earns a reasonable rate without adding another institution to manage. If your primary goal is maximizing return on safe savings, every credible financial comparison — Bankrate, NerdWallet, Fortune, GOBankingRates — concludes the same thing: online banks like Ally, Marcus by Goldman Sachs, Synchrony, and American Express National Bank consistently outperform BofA’s CD rates by a significant margin. A BofA Featured CD at ~3.25% is respectable; the best available rate of 4.20% (Mountain America Credit Union, Bankrate April 7 2026) is better on a purely mathematical basis.

Sources: Bank of America (bankofamerica.com/deposits/bank-cds; media.bac-assets.com BofA Deposit Rate Sheet; standard CDs 0.03%–0.10%; Featured CDs up to ~3.25%; Flexible CD 12-month; $1,000 minimum; 7-day grace period; FDIC member; auto-renewal terms); Bankrate bankrate.com April 7 2026 (top CD rate 4.20% Mountain America CU; national 1-yr avg 1.89%; 6-month top ~4.15%); NerdWallet nerdwallet.com Feb/March 2026 (BofA CD rates review; auto-renewal trap Featured→standard; Flexible CD early withdrawal 6-day rule); GOBankingRates gobankingrates.com March 19 2026 (Featured CD terms 7/10/13/25/37 months; standard rates table); Fortune fortune.com April 7 2026 (major bank CDs up to 4.00%; online banks lead); SmartAsset (early withdrawal penalty schedule; BofA vs online banks comparison); Chase chase.com (CD interest calculation; $10,000 at 4% = $400/year simple interest); IRS (1099-INT; CD interest taxable as ordinary income; early withdrawal penalty deductible); FDIC fdic.gov ($250,000 per depositor per ownership category; BofA Member FDIC)

📋 Bank of America CD Rates — All Three Types

⚠️ Rates Change Frequently — Always Verify at BankofAmerica.com Before Opening

CD rates change with market conditions and vary by region. All figures below reflect published data as of April 2026 from BofA’s official rate sheet, GOBankingRates (March 19, 2026), and NerdWallet. The specific APY for Featured CDs is promotional and subject to change or discontinuation without notice. Check bankofamerica.com/deposits/bank-cds/cd-accounts for current rates before opening any CD.

📌 Fixed Term CDs — Standard (Low Rates; Wide Term Selection)

Term	APY (BofA Standard)	Min. Deposit	Early Withdrawal Penalty
28–89 days	~0.03%	$1,000	All interest earned or 7 days’ interest (greater)
90–179 days	~0.03%	$1,000	90 days’ interest
6–11 months	~0.03%	$1,000	90 days’ interest
12–17 months	~0.03%	$1,000	180 days’ interest
18–23 months	~0.03%	$1,000	180 days’ interest
24–35 months	~0.03%	$1,000	180 days’ interest
36–47 months	~0.03%–0.05%	$1,000	180 days’ interest
48–59 months	~0.05%–0.10%	$1,000	180 days’ interest
60–119 months	~0.05%–0.10%	$1,000	365 days’ interest
120 months (10 yr)	~0.05%–0.10%	$1,000	365 days’ interest

⭐ Featured (Promotional) CDs — Best BofA Rates (Subject to Change)

Term	APY (BofA Featured)	Min. Deposit	Notes
7 months	Up to ~3.25%*	$1,000	Promotional rate; verify current APY at BofA
10 months	Up to ~3.25%*	$1,000	Promotional rate; check availability in your region
13 months	Up to ~3.25%*	$1,000	Most popular term; verify current offer
25 months	Up to ~3.25%*	$1,000	Promotional rate; may not always be available
37 months	Up to ~3.25%*	$1,000	Promotional rate; available varies by market

*Featured CD APYs are promotional and change frequently. The ~3.25% figure reflects GOBankingRates data from March/April 2026. Always verify the current specific APY at bankofamerica.com before opening.

🔓 Flexible CD — No Penalty After Day 6

Term	APY	Min. Deposit	Penalty After Day 6	Renews Into
12 months	Lower than Featured CDs	$1,000	None (withdraw any time)	3-month Flexible CD at lower rate

Sources: Bank of America Deposit Rate Sheet (media.bac-assets.com; standard CD APY range 0.03%–0.10%; penalty schedule; Flexible CD 12-month; 7-day grace period auto-renewal; $1,000,000 deposit maximum per CD; $250,000 for online CDs); GOBankingRates gobankingrates.com March 19 2026 (Featured CD terms 7/10/13/25/37 months; up to ~3.25%; Flexible CD 12-month; standard rates table); NerdWallet Feb 2026 (auto-renewal trap; Flexible CD renews into 3-month at lower rate; Featured→standard renewal warning); SmartAsset (early withdrawal penalty schedule confirmed: <90d=7 days interest; 90d–12mo=90 days; 12–60mo=180 days; 60mo+=365 days)

📊 Key Numbers at a Glance

📉 BofA Standard CD Rate

~0.03% APY

Starting APY for most BofA standard Fixed Term CDs. On $10,000 for one year: approximately $3 in interest. Well below the national average of 1.89% (Bankrate, April 7 2026).

⭐ BofA Featured CD (Best Rate)

~3.25% APY

Promotional Featured CD rate as of March/April 2026. On $10,000: ~$325/year. Significantly better than standard CDs but still below top available rates of 4.20%. Verify at bankofamerica.com.

🏆 Best Available CD Rate

4.20% APY

Top rate tracked by Bankrate’s editorial team as of April 7 2026 (Mountain America Credit Union). On $10,000: ~$420/year. Online banks consistently lead. Verify before opening any account.

📊 National 1-Year CD Average

1.89% APY

National average for 1-year CDs as of April 7 2026 per Bankrate survey of up to 1,200 banks and credit unions. BofA’s standard rate is far below this average; its Featured rate is above it.

Sources: Bankrate bankrate.com April 7 2026 (4.20% Mountain America CU; national 1-yr avg 1.89%; survey of 1,200+ banks); GOBankingRates March/April 2026 (BofA Featured ~3.25%; standard 0.03%); SmartAsset (0.03% standard confirmed; Ally 4.10% comparison example)

🧮 CD Earnings Calculator — BofA vs. Best Available

Enter your deposit amount and term to compare estimated earnings at Bank of America’s Featured CD rate versus the best nationally available rate. Note: This calculator uses simple interest for illustration. Actual earnings may differ slightly due to compounding frequency. Always verify current rates at each institution before opening an account.

Deposit Amount ($)

Term Length

Your deposit

BofA Standard CD (~0.03% APY)

BofA Featured CD (~3.25% APY)

National Average (1.89% APY)

Best Available Rate (~4.20% APY)

Extra interest vs. BofA Standard

Calculator uses simple interest (Principal × APY × Term). Rates used: BofA Standard ~0.03%; BofA Featured ~3.25% (GOBankingRates March/April 2026); National Average 1.89% (Bankrate April 7 2026); Best Available 4.20% (Bankrate April 7 2026). Actual returns depend on compounding frequency, final published APY, and term. Verify all rates before opening any account. This is not financial advice.

📋 Bank of America CDs vs. Competitors — Where Does BofA Stand?

Rates verified from Bankrate and Fortune (April 7 2026). Rates change daily — always verify directly at each institution. FDIC/NCUA insurance applies at all listed institutions.

Institution	1-Year CD APY	Type	Min. Deposit	Key Advantage
Bank of America (Standard)	~0.03%	Brick & Mortar	$1,000	Branch access, brand trust
Bank of America (Featured)	~3.25%*	Promotional	$1,000	Best BofA rate; in-branch service
Chase Bank	Varies; check chase.com	Brick & Mortar	$1,000	Largest U.S. bank; widespread branches
Wells Fargo	Varies; check wellsfargo.com	Brick & Mortar	$2,500	Nationwide branch network
Ally Bank	~4.10%	Online	$0	No minimum; consistently top rates
Marcus by Goldman Sachs	~4.00%+	Online	$500	Goldman Sachs trust; low minimum
American Express National	~4.00%+	Online	$0	Household name; no minimum
Synchrony Bank	~4.00%	Online	$0	No minimum; range of terms
National Average	1.89%	Industry Avg	—	Bankrate survey, April 7 2026

Sources: Bankrate bankrate.com April 7 2026 (Ally ~4.10%; Synchrony ~4.00%; national avg 1.89%; best overall 4.20%); Fortune fortune.com April 7 2026 (major bank CDs up to 4.00%; Marcus/AmEx competitive); NerdWallet March 2026 (BofA standard rates; Ally 4.10% comparison; SmartAsset BofA vs online banks); GOBankingRates March 2026 (BofA Featured ~3.25%). *Featured rate is promotional and varies by term and timing. Chase and Wells Fargo rates vary significantly by term and region; verify directly at their websites.

❓ Your Questions Answered Plainly

💡 How much is Bank of America paying for CDs right now?

Bank of America’s standard Fixed Term CDs pay approximately 0.03%–0.10% APY across most terms as of April 2026 — well below the national average of 1.89% for a 1-year CD. The better option within BofA is its Featured (promotional) CDs, which offer up to approximately 3.25% APY on select terms (7, 10, 13, 25, and 37 months). The Flexible CD, a no-penalty 12-month option, sits between these two in terms of rate. To see the exact current rates for your specific region, visit bankofamerica.com/deposits/bank-cds/cd-accounts or visit any BofA financial center and ask for the current Featured CD rate sheet. Rates may vary by geography and are not the same nationwide.

💡 What is the 6-month CD rate at Bank of America?

Bank of America’s standard 6-to-11-month Fixed Term CD pays approximately 0.03% APY as of April 2026 — effectively no return on your money. The national average for a 6-month CD is considerably higher, and the best available 6-month CD rate from online banks as of April 7, 2026 is approximately 4.15% APY per Bankrate. If you specifically want a 6-month timeframe, BofA does not typically offer a 6-month Featured CD (their promotional terms are 7, 10, 13, 25, and 37 months). A BofA 7-month Featured CD at ~3.25% APY is the closest available option within the bank. Alternatively, online banks like Ally or Synchrony offer competitive no-minimum 6-month CDs at significantly better rates while still being FDIC-insured and accessible entirely online.

💡 What will a $10,000 CD make in one year at different rates?

Using simple interest (Principal × APY): At BofA’s standard ~0.03% APY, $10,000 earns approximately $3 after one year. At BofA’s Featured ~3.25% APY, it earns approximately $325. At the national 1-year average of 1.89%, it earns approximately $189. At the best available rate of ~4.20% APY, it earns approximately $420. The difference between BofA standard and the top rate is $417 — on the same $10,000 — per year. For $100,000: BofA standard = ~$30; BofA Featured = ~$3,250; best available = ~$4,200. These calculations use simple interest for illustration; actual returns may be slightly higher due to compounding. Chase’s educational guide confirms: $10,000 at 4% APY for one year = $400 using simple interest.

💡 What are the fees for a Bank of America Certificate of Deposit?

There are no monthly fees, no annual fees, and no account maintenance fees on any Bank of America CD. The only cost you can incur is the early withdrawal penalty if you access your money before the maturity date. The penalty formula depends on the term: CDs under 90 days = all interest earned or 7 days’ interest, whichever is greater; 90 days to 12 months = 90 days’ interest; 12–60 months = 180 days’ interest; over 60 months = 365 days’ interest on the amount withdrawn. If your CD has not yet earned enough interest to cover the penalty, BofA deducts the interest first and takes the remainder from your principal. The only fee-free early withdrawal option is the Flexible CD, which allows full (not partial) withdrawal any time after the first 6 days of the 12-month term.

💡 What is the best CD rate for $100,000 right now?

As of April 7, 2026, the best nationally available CD rate tracked by Bankrate is 4.20% APY (Mountain America Credit Union). At that rate, $100,000 earns approximately $4,200 in one year. For comparison: BofA standard CD = ~$30; BofA Featured = ~$3,250; national average = ~$1,890. All of these are FDIC-insured (or NCUA for credit unions) up to $250,000 per depositor per institution. A $100,000 CD at any of these institutions is fully protected. For amounts over $250,000, distribute across multiple FDIC-insured banks or use different ownership categories (individual, joint, IRA) to maintain full coverage. Fortune noted as of April 2026 that the nation’s largest banks are offering up to 4.00% APY on CDs — so even major institutions can offer competitive rates, just not BofA’s standard terms.

💡 What is a CD ladder and should I use one instead of one large CD?

A CD ladder divides your savings across multiple CDs with staggered maturity dates, giving you the benefit of today’s rates while keeping portions of your money accessible at regular intervals. For example: split $20,000 into four $5,000 CDs maturing every 3, 6, 9, and 12 months. As each matures, you reinvest at current rates. Fortune’s April 2026 analysis describes this as “a tried-and-true approach” for savers who want both competitive yields and flexibility. The benefit for seniors and fixed-income savers: you are never locked into a single rate for all your savings, you always have some liquidity at predictable intervals, and if rates rise, you can reinvest maturing CDs at the new higher rate. This works at any bank — or across multiple banks to maximize rates on each rung.

Sources: Bankrate bankrate.com April 7 2026 (4.20% best; 4.15% 6-month top; 1.89% national avg; CD ladder strategy); Chase chase.com education ($10,000 at 4% = $400; simple vs compound interest explanation); Fortune fortune.com April 7 2026 (CD laddering strategy; major banks up to 4.00%; FDIC $250,000 limit; auto-renewal grace period); GOBankingRates March 2026 (BofA Featured terms; 6-to-11-month standard rate ~0.03%); Bank of America Deposit Rate Sheet (penalty schedule; Flexible CD terms; 7-day grace; principal deduction for penalty); NerdWallet (Featured CD auto-renewal at standard rates warning)

📍 Find Banks & Financial Centers Near You

Allow location access when prompted for the most relevant results. All CDs at FDIC-insured banks are covered up to $250,000 per depositor per ownership category.

Finding branches near you…

✅ Five Steps to Get the Most From a CD Right Now

Step 1: Check BofA’s Featured CD rate before looking elsewhere. Visit bankofamerica.com/deposits/bank-cds or call 800-432-1000 and ask specifically for the current Featured CD APY for the terms you want (7, 10, 13, 25, or 37 months). The Featured rate is the only BofA CD worth comparing to outside options. Do not open a standard Fixed Term CD without also checking Featured rates.
Step 2: Compare the Featured rate to the best available online bank CD. Use Bankrate (bankrate.com/banking/cds/cd-rates) or NerdWallet to look up current top rates. If the gap between BofA’s Featured rate and the best online rate is less than 0.5%, staying at BofA for the convenience may make sense. If the gap is 1%+ on a significant deposit, the math clearly favors moving.
Step 3: Consider the Flexible CD if you might need access before maturity. BofA’s 12-month Flexible CD lets you withdraw any time after day 6 with no penalty. If there is any chance you will need the money before the term ends, the Flexible CD is a safer choice than a standard or Featured CD where penalties can erase your earnings.
Step 4: Mark your CD maturity date in your calendar the day you open it. Set a reminder for 10 days before the maturity date. Bank of America CDs automatically renew — and Featured CDs that renew often do so at a much lower standard rate. The 7-day grace period is your only window to redirect funds without penalty. Missing it can cost you months of better earnings.
Step 5: Verify FDIC coverage if your total deposits at BofA approach $250,000. The FDIC insures $250,000 per depositor per ownership category per institution. If you have $200,000 in savings plus a $100,000 CD at BofA under the same individual ownership, $50,000 is uninsured. Use the FDIC’s Electronic Deposit Insurance Estimator (EDIE) at fdic.gov/resources/resolutions/bank-failures/failed-bank-list/banklist.html to verify your coverage.

⚠️ Three Costly Mistakes Bank of America CD Holders Make

Opening a standard Fixed Term CD without checking Featured rates. BofA’s standard CDs at ~0.03% APY are among the lowest published by any major bank. The Featured CD at ~3.25% APY earns over 100 times more on the same deposit. They require the same $1,000 minimum. Always ask for the Featured CD first.
Missing the maturity grace period and auto-renewing at a lower rate. This is the single most common way BofA CD holders lose earnings they were counting on. A Featured CD that auto-renews into a standard term can drop from ~3.25% to ~0.03% overnight. Set a calendar reminder for your maturity date when you open the account.
Assuming BofA’s rates are competitive because of the bank’s size. Size and safety (FDIC insurance) are the same at nearly every U.S. bank. Online banks like Ally, Marcus, and American Express National Bank are FDIC-insured, established institutions that consistently pay 4%+ APY — without requiring you to visit a branch for anything. BofA’s convenience value is real, but it comes at a measurable cost in interest earned.

© BudgetSeniors.com — This guide is independently researched and written. We are not affiliated with, compensated by, or endorsed by Bank of America, Goldman Sachs, Ally, or any other financial institution named. All rate data is sourced from official bank rate sheets, Bankrate, NerdWallet, and Fortune and is current as of April 2026 — but rates change daily. Always verify the current APY directly at each institution before opening any CD. This guide provides general financial information only and does not constitute financial, tax, or investment advice. Bank of America: bankofamerica.com • 800-432-1000 • FDIC: fdic.gov • FDIC EDIE insurance estimator: fdic.gov/edie • Bankrate CD rates: bankrate.com/banking/cds/cd-rates • IRS Form 1099-INT: irs.gov

Primary sources: Bank of America (bankofamerica.com/deposits/bank-cds; media.bac-assets.com Deposit Rate Sheet; standard Fixed Term APY ~0.03%–0.10%; Featured CDs up to ~3.25%; Flexible CD 12-month no-penalty after day 6; 7-day grace period; auto-renewal terms; $1,000 minimum; FDIC Member; penalty schedule confirmed: <90d=7 days; 90d–12mo=90d; 12–60mo=180d; 60mo+=365d; principal deduction if insufficient interest; max deposit $1M/$250K online); Bankrate bankrate.com April 7 2026 (top CD rate 4.20% Mountain America CU; 6-month top ~4.15%; national 1-yr avg 1.89%; 1,200+ banks surveyed; best 1-yr high-yield 4.25% widely available; survey of up to 1,200 banks weekly); NerdWallet nerdwallet.com Feb/March 2026 (BofA standard rates; Featured auto-renewal trap; Flexible CD 12-month; Ally 4.10%); Fortune fortune.com April 7 2026 (major banks up to 4.00%; FDIC $250,000 limit; CD laddering; auto-renewal grace period; online banks overhead advantage); GOBankingRates gobankingrates.com March 19 2026 (BofA Featured ~3.25% up to; standard rates table; terms listed); SmartAsset smartasset.com (penalty schedule; BofA vs Ally comparison; 0.03% standard confirmed); Chase chase.com April 2026 (simple interest education: $10,000 at 4% = $400; compound interest explainer); IRS (1099-INT for interest >$10; ordinary income tax treatment; early withdrawal penalty deductible); FDIC fdic.gov ($250,000 per depositor per ownership category; backed by full faith and credit US government); Fortune March 2026 ($500 at 5% = ~$526 compounded monthly; CD ladder $5,000 example)

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