APY Range
0.03% to 4.11% (10/3/2026)
Short answer
Bank of America's best CD rate on October 3, 2026 was 4.11% APY on a Featured CD (top of its posted 0.11% to 4.11% Featured range, ZIP 28255, Charlotte). The 12-month Flexible CD paid 3.15% to 3.65% and Fixed Term CDs 0.03% to 3.00%, all with a $1,000 minimum. Featured and Flexible CDs renew into a 3-month Flexible CD paying 0.10% unless you act during the 7-day grace period.
Bank of America sells three CD types. Its CD page showed these APY ranges on October 3, 2026 for ZIP 28255 (Charlotte, NC). Ranges cover every term and balance tier, so the top number needs the right term and deposit size:
| CD type | Terms | APY range (10/3/2026) | Renews into |
|---|---|---|---|
| Featured CD | 7, 10, 13, 25, 37 months | 0.11% to 4.11% | 3-month Flexible CD (0.10%) |
| Flexible CD | 12 months | 3.15% to 3.65% | 3-month Flexible CD (0.10%) |
| Fixed Term CD | 1 month to 10 years | 0.03% to 3.00% | Same term, Fixed Term rate |
Source: bankofamerica.com CD accounts page, "APY is accurate as of 10/03/2026," ZIP 28255. $1,000 minimum on all three; $250,000 maximum when opened online. For the term-by-term spread: on September 25, 2026 DepositAccounts listed Featured CDs at 3.75% (7 and 13 months under $100,000), 4.11% and 4.00% at $100,000 or more, 2.95% (10 months), 1.75% (25 months) and 0.11% (37 months).
Featured CDs (7, 10, 13, 25 and 37 months) and the 12-month Flexible CD automatically renew into a 3-month Flexible CD unless you make a change during the 7-day grace period. On October 3, 2026 that 3-month Flexible CD paid 0.10% APY. Fixed Term CDs renew into the same term. Bank of America mails a maturity notice first; read it.
The $100,000 tier is where the 4.11% Featured APY sat (DepositAccounts, September 25, 2026, 7-month term; confirmed as the top of the bank’s posted range on October 3). Example: $100,000 for 7 months at 4.11% APY earns about $2,380. Compare that with the best nationally available 1-year CDs at 4.35% to 4.50% (DepositAccounts, September 25, 2026) and 52-week Treasury bills at 4.48% (U.S. Treasury, September 25, 2026), which are free of state income tax. See Treasury bills explained.
From my desk: Hans Goldstein, licensed insurance producer (NPN 20602398)
Bank of America's CD page shows ranges, not a single rate, and that is where people get tripped up. The 4.11% top is a Featured CD at a larger balance. When a client tells me "BofA offered me 4%," I ask three things: which term, how much money, and what it renews into.
The renewal answer is the important one. Featured and Flexible CDs roll into a 3-month Flexible CD at 0.10% if you miss the 7-day window. I'd rather a client park a calendar reminder than find out three months later.
Example ($250,000, 5 years, before taxes): a Fixed Term CD at the top of its range, 3.00%, ends near $289,800. An A-rated 5-year MYGA at 5.50% (low end of 5.50% to 6.05%, public carrier rate sheets, October 14, 2026) ends near $326,700, about $36,900 more. A MYGA rate is guaranteed by the issuing insurer and backed by its claims-paying ability, not the FDIC, with surrender charges, so it is for money you will not touch. See CD vs MYGA; for other big banks see Wells Fargo CD rates.
Bank of America carries roughly $2T in deposits and ~3,800 branches. Branch overhead alone runs around $1-2M/branch/year in real estate, staffing, security, and utilities. Add ATM networks, the BofA app, marketing, regulatory overhead, and the bank's effective cost of capital before paying any depositor a dime is several percent. The Featured CDs (up to 4.11% in October 2026) are a marketing-funded loss leader to attract new deposit relationships; the low end of the Fixed Term range (0.03%) is where the actual bank economics live. Online banks (Marcus, Ally, Synchrony) have effectively zero branch overhead and pass that savings to depositors.
A megabank branch costs roughly $1-2M per year to operate (real estate, staffing, security, utilities, IT, compliance). Multiply across thousands of branches and the bank’s effective cost of deposits is 2-3% before paying you a dime. An online bank with zero branches can pass nearly that entire spread back to depositors as APY. That’s why the best online 1-year CDs paid 4.35% to 4.50% (DepositAccounts, September 25, 2026) while big-bank standard CDs pay close to zero.
If branch access isn’t critical for you, these alternatives currently pay materially more on the same FDIC-insured deposit:
For a 30+ bank comparison at the 5-year point, see Best 5-Year CD Rates 2026.
A Multi-Year Guaranteed Annuity (MYGA) is the insurance-industry equivalent of a CD: lock a fixed rate for a fixed term, with no market loss on principal; the guarantee rests on the insurer’s claims-paying ability rather than the FDIC. The pricing gap vs. a megabank CD is dramatic.
Math at $250,000 over 5 years:
At 5 years, a BofA Fixed Term CD pays at most 3.00% (top of the 0.03% to 3.00% range, October 3, 2026). On $250,000, before taxes:MYGAs also defer tax on interest until withdrawal, CDs are taxed annually as ordinary income whether you touch the interest or not. The trade-off: MYGAs have a fixed surrender schedule (usually with 10%/yr free withdrawal); CDs have shorter penalty periods. For taxable retirement money you don’t plan to touch for the full term, the MYGA usually comes out ahead. See CD vs MYGA Comparison.
On October 3, 2026 (ZIP 28255), Bank of America posted Featured CDs at 0.11% to 4.11% APY, the 12-month Flexible CD at 3.15% to 3.65% and Fixed Term CDs at 0.03% to 3.00%. Rates vary by ZIP, term and balance.
Featured CDs are promotional 7, 10, 13, 25 and 37-month terms. The Flexible CD is a 12-month CD. Fixed Term CDs run 1 month to 10 years at mostly low rates. Featured and Flexible renew into a 3-month Flexible CD; Fixed Term renews into the same term.
Yes. BofA is FDIC-insured (Cert #3510) to $250,000 per depositor, per ownership category.
Branch overhead, ATM networks, brand marketing, and regulatory costs add up to roughly 2-3% of deposit cost before any interest is paid. Online banks have essentially none of that and pay the difference to depositors.
Yes, $1,000 for Featured, Flexible and Fixed Term CDs, with a $250,000 maximum when opening online (bankofamerica.com, October 3, 2026).
90 days interest for terms under 12 months; 180 days for 12-59 months; 365 days for 60+ month CDs.
For money you won't need for 3 to 10 years it can pay more: A-rated 5-year MYGAs paid about 5.50% to 6.05% on October 14, 2026 (public carrier rate sheets), with tax deferral. MYGAs carry surrender charges and are backed by the insurer, not the FDIC. Get a side-by-side before moving funds.
This review reflects publicly posted bank rates and approximate APYs as of 2026-06-27. CD rates change frequently, confirm current rates directly with Bank of America before opening an account. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific banking or insurance product. Bank of America is FDIC-insured to the limits stated; coverage is per depositor, per ownership category. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; he is NOT a bank employee, broker-dealer, or registered representative, and is not paid by Bank of America for this review. No compensation has been received from Bank of America in connection with this content. MYGA comparisons reference rates from A-rated carriers as of the date stated; carrier rates change monthly. Always read the actual CD disclosure or annuity contract before purchasing.
Hans Goldstein is an Enrolled Agent, admitted to practice before the Internal Revenue Service. Not affiliated with or endorsed by the IRS. General education, not tax or legal advice for your situation.