Bank of America is offering 4.01% APY for its Standard Term CDs with terms from 48 to 59 months. Rates vary by state, so you'll have to check to see if it's available for your state. I've verified this for Florida and Massachusetts. The yield for most states is only 2.51% APY. These states include TX, IL, PA, NC, GA, OH, CO, AZ and VA. Also note, this rate is listed as of 12/09/08, and it can change daily. Credit for this find goes to BestCashCow.
To receive this 4.01% APY, you either have to open the CD online or you must be an Advantage Checking, Money Manager, Premier, Private Bank, or Small Business client managed customer.
It's definitely not the best 4-year CD rate, but it's not too bad in today's rate environment. For those who want to stick with a major bank, this may be an option.
Some other top 4- and 5-year rates from major banks:
- 5% 60-month CD and 4% 48-month CD at WaMu and Chase (WaMu is now part of Chase). For more details, please refer to this post.
- 4.50% 60-month CD at Wachovia (soon to be part of Wells Fargo). Note, this is a Featured CD, and it's not listed at Wachovia's website. I was quoted this rate on Saturday for Texas. This had been 5%.