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Bank of America “Risk Free CD”

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Bank of America is offering a 9 month certificate of deposit the bank calls "Risk Free".  The promotional 9 month CD currently yields 2.00%. The rate is competitive but as with all CD rates these days it's rather paltry.

To receive the 2.00% rate you must deposit at least $10,000 of "new money", money not currently deposited at BofA. If you deposit less then $10,000 the rate is 1.75%. The minimum opening deposit for this CD is $5,000.



Bank of America's Risk Free CD policy.

"We waive the early withdrawal penalty after the first 6 days of the account term (or the first 6 days following any partial withdrawal), when you reinvest the amount withdrawn in any Bank of America deposit account. We may require at least 7 days' prior written notice of your intended withdrawal."

Bank of America 9 Month Risk Free CD Application
 
Author: Lisa Graham
February 9th, 2009