Bank of America is offering a short-term 12 month high yield CD IRA at a rate of 2.85%APY. A special online rate offer by the bank, it’s one of the best IRA CD rate so far with a guaranteed return of a CD yet with the tax advantages of an IRA.
This high yield CD IRA is available in Roth, Traditional and Rollover IRAs with only $2,000 minimum opening balance. It’s also a no fee IRA. Meaning annual custodial and maintenance fees are waived.
You don’t have to worry about missing the renewal period of your investment as your account will automatically renew into a new CD with the same term upon maturity. Also, if you wish to open your account in one of Bank of America’s banking centers, note that the promotional rate is offered only online. As a result, the rate you will get in the banking centers might not be the same as the rate offered online.
Bank of America High Yield CD IRA APY is down. As of October 2, 2009, the APY stands at 1.85% for residents of the District of Columbia. APY varies by state.
Bank of America’s High Yield CD IRA is down to 1.70%APY. This IRA CD rate applies to residents of Connecticut. Note that APY varies by state.
Update January 1, 2010:
Bank of America’s High Yield CD IRA, accurate as of January 1, 2010, is 1.35%APY. It is 0.35%APY down since our last update in October 2009.
Update February 18, 2010:
Bank of America High Yield CD IRA is 1.06%APY. It’s down by 0.29%APY from it’s previous 1.35%APY.
Update April 24, 2010:
Bank of America High Yield CD IRA stays the same at 1.06%APY.
Update May 24, 2010:
Bank of America High Yield CD IRA remains the same for the month of May 2010 at 1.06%APY.
Update July 14, 2010:
Bank of America High Yield CD IRA for July 2010 remains the same at 1.06%APY.
Visit Bank of America to view its latest High Yield CD IRA rate.