3 Year Cd Rates Bank Of America

The shortest term cd is the six month cd and the longest term cd is a five year cd.

3 year cd rates bank of america.

Research some of the best rates offered by financial institutions. The bank also offers an online savings account which. Featured cd rates are slightly higher than. Mortgage rates valid as of 01 oct 2020 09 06 am cdt and assume borrower has excellent credit including a credit score of 740 or higher.

These cds require a minimum deposit of 1 000. Annual percentage yield apy is accurate as of 10 05 2020 and applies to the initial term of a new featured cd. As you can see below bank of america cd rates doesn t even come close to the rates of other banks namely online banks like marcus by goldman sachs and ally bank ally s one year cd 0 75 apy outperforms bank of america s 0 03 substantially. 3 year cd rate vs.

For example marcus by goldman sachs currently offers 1 percent apy on a 1 year cd. 11 months 0 35 apy. Additionally you can choose a 6 month or 1 year cd instead of getting a 3 year cd. These cds all have a 2 500 minimum deposit requirement.

Besides its no penalty cd ally bank also offers a checking account a money market account term cds and two terms of a raise your rate cd. The minimum balance required to open this cd is 1 000. Annual percentage yield apy is accurate as of 10 05 2020 and applies to the initial term of a new standard term cd. How bank of america cds rates compare to other banks.

Certificates of deposit or cds are time deposits bought by an individual in order to earn an established rate of return within a fixed time period. Bank of america cd rates. Arm interest rates and payments are subject to increase after the initial fixed rate period 5 years for a 5 1 arm 7 years for a 7 1 arm and 10. Bank of america cd rates.

3 year cd rates are usually higher than 2 year cd rates but lower than 4 year cd rates and are considered a mid to long term cd in terms of maturity period.