Dedicated to Deposits: Deals, Data, and Discussion

5.20% 4-Month CD at Bank of America

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Bank of America
Bank of America is offering a special 4-month CD with a yield of 5.20% APY. It doesn't seem to be listed at their website. This is different than their high yield online 4-month CD. This special CD can be opened at a branch or by phone. The special expires the end of day Monday (12/3/07).

A reader mentioned yesterday that the 5.20% APY was available in New Jersey. This same CD is also being advertised in San Francisco (see ad). I called Bank of America this morning and the CSR said that it's also available in Texas, Florida and New York. So it might be nationwide. Please contact Bank of America to see if it's available in your state (800-900-9000).

The San Francisco ad states that the minimum deposit to open the CD is $5,000. However, the CSR told me a $10,000 minimum deposit is required. This might vary by state. In both cases, at least $2,500 of the deposit must be money new to BofA. The maximum deposit is $5 million.

The yield on this special CD is a little better than the yields for their 4-month Online High Yield CDs. These rates vary by state. The highest yield that I've found is 5.15% APY in Illinois. Other APYs include 5.10% for New York and New Jersey, 5.00% for Florida and 4.85% for Texas and California.

Other Bank of America Deals

Note, there's still an active Bank of America $100 checking account promotion. Also, they still have a high yield money market account with a yield up to 4.68% APY (although it used to be much higher). Please see my Bank of America High Yield Money Market Savings review for more details. For the latest BofA deals, please see this page.

Thanks to the reader who mentioned this promotion in the finding-the-best-deals post.

  Tags: CD rates, Bank of America

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Comments
5 comments.
Comment #1 by scott (anonymous) posted on
scott
Is available in MA, My premier rep called me yesterday to tell me about it

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Comment #2 by Frugal Frugalson (anonymous) posted on
Frugal Frugalson
I was offered this promo CD at a BOA branch in MA today. 4 months @ 5.15% APY with a $10k minimum.

1
Comment #3 by Anonymous posted on
Anonymous
I called my branch in MA, and they added an additional stipulation: At least $2500 of the deposit must come from a non-BOA account.

1
Comment #4 by scott (anonymous) posted on
scott
I opened in MA today but got 5.20% that they are offering to Premier clients

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Comment #5 by Cyclone (anonymous) posted on
Cyclone
Banking Guy and others,

Do note that BoA & AAA are parting ways after 12/31/07. Thus, the AAA money market that Banking Guy refers to goes buh-bye. The other affinity/my expression accounts are unaffected.

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