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Featured CD Rates Available at the Big Four Banks as of 5-11-2024

RichardW
  |     |   821 posts since 2019

These featured CDs are definitely not DepositAccounts rate leaders, but they do provide a higher rate than the conventional CDs offered in the big four bank product line. The rates (APY) listed below were valid as of 5/11/2024.

Wells Fargo: 7-month (or 4-month) Special Fixed Rate Relationship CD @ 5.01%

Citi: 6-month CD @ 4.75%

Bank of America: 7-month Featured CD @ 4.75%

Chase: 9-month (or 2-month) Relationship CD @ 4.75% ($100k minimum) [for less than $100k the interest rate is 4.25%]

The rates that these banks offer typically vary by location. The rates listed above were based on the location of the bank’s headquarters.

Wells Fargo headquarters is located at 420 Montgomery St., San Francisco, CA 94104. To view the rates of Wells Fargo CDs in your region, see: https://www.wellsfargo.com/savings-cds/certificate-of-deposit/

Citigroup headquarters is located at 388 Greenwich St., New York, NY 10013. To view the rates of Citi CDs in your region, see: https://online.citi.com/US/ag/current-interest-rates/cd

Bank of America headquarters is located at 100 N Tryon St., Charlotte, NC 28202. To view the rates of Bank of America CDs in your region, see: https://www.bankofamerica.com/deposits/bank-cds/featured-cd/

Chase headquarters is located at 383 Madison Ave., New York, NY 10017. To view the rates of Chase CDs in your region, see: https://www.chase.com/personal/savings/bank-cd

(BTW, as of 5:30 PM EDT 5/11/2024, Vanguard is offering the following new-issue, non-callable, Bank of America brokered CDs: 6-month at 5.25% APR, and 9-month (or 12-month) at 5.20% APR. Earlier this week, Fidelity was offering the following new-issue, non-callable, Wells Fargo Bank brokered CDs: 9-month at 5.25% APR, and 12-month at 5.20% APR.)

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w00d00w
  |     |   360 posts since 2012
also at Vanguard, JP Morgan Chase offering a 5.5% 12 month brokered CD, call protected for 6 months, then callable monthly until maturity with interest paid only at maturity/call. the equivalent rate for a 12 month CD that compounds interest monthly would be 5.37%. conveniently, Vanguard also has a fairly new feature of listing callable and non-callable best brokered CD rates separately on their fixed income front page.
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111
  |     |   672 posts since 2019
Thanks, Richard. I'd add that some people here are interested in savings or checking account promotional bonus offers offered by the "Big Four" megabanks, but dislike the very low rates paid on those accounts. For some of these offers, the short-term CDs mentioned above can be used to satisfy a large part of the funds-on-hand total required to get the bonus for that bank. That way you're not left making something like 0.05% APY for months, which even after the bonus might leave you with a net opportunity cost loss. You'll need to check the "Terms & Conditions" document for each particular bank offer to see whether they include CDs in that total.
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calwatch
  |     |   65 posts since 2018
Also, they can be used to qualify for better banking packages, like Wells Fargo Premier, Bank of America Platinum Honors, Chase Sapphire, or Citi Priority. All of them count CD balances as part of the minimums needed for those packages.
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