Bank CD Rates

There is some very good news from Bank of America when it comes to their CD’s; they have added an opt-up feature to their line of investments. This allows investors to receive the best bank CD rates that are currently available. The current Bank of America CD Rates can vary from state to state but the new opt-up feature is at 1.64% and an APY of 1.65% and is available across the nation.

The new opt-up Bank of America CD Rates operates in this way. Upon initially opening up this type of account when the CD is purchased, the investor has a onetime option to get a higher rate. The terms are that this must be requested by the investor within the first 6 months of the purchase of the CD. In addition the bank CD rates must have increased. The increased interest rates will only apply to future interest payments. The interest that was accumulated before the rate change will not be affected.

This new option gives the investor some flexibility if the CD rates suddenly rise after they are locked into their CD at no additional cost. This new feature is an option many investors have wanted with their Bank of America CD. Rates will vary over time and by your location, but the guarantee and safety of your investment will not vary.

Initial investment of $10,000 is required for this new type of CD. All of the usual terms including a penalty for early withdraw are still associated with this CD’s rate. The maturity of this CD is 18 months.

The most important clause with the Bank of America CD Rates with the opt-up feature is you must keep track of the current bank CD rates. You must notify the Bank of America when you decide to take advantage of the onetime rate increase, this is not automatic.