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Savings IRAs

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Why use an IRA to save for retirement?

A savings IRA layer can help you make the most of your hard-earned retirement. Here's how:

What is a savings IRA?

A savings IRA is an individual retirement account (IRA) that provides either a tax-deferred or tax-free way for you to save for retirement. There are many different types of IRAs but Roth, Traditional and Rollover IRAs are the most common. Each IRA has certain eligibility requirements and unique features.

Tax advantages

Enjoy tax benefits made to help you put away more.

FDIC insurance

FDIC insurance up to the applicable limits.
Learn more about FDIC insurance

Saving on fees

No annual or custodial fees on your Bank of America IRA.

Other long-term savings accounts available

Variable Rate CD IRA

Stay flexible and make deposits anytime

Certificate of Deposit (CD) Accounts

Competitive rates with multiple terms available

Not a Bank of America online banking customer?

Visit a financial center to open an IRA.

More questions?

Check out IRA FAQs

Variable Rate CD IRA

Current Bank of America online banking customers are eligible to open an IRA account online.

Not a Bank of America customer? Visit a financial center to open an account.

Open a Variable Rate CD IRA today with a minimum of $XXXX. Earn a variable rate of interest over a fixed term - and benefit from the tax advantages of an IRA.Footnote

Minimum opening deposit: $XXXX

Renewal: Change terms at renewal or renew at the same term automatically

Additional deposits: At any time

What length of term would you like?

Interest RateAPY
XXXX%XXXX%

Which type of IRA would you like to open?

Variable Rate CD IRAs are available in both Traditional and Roth.

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  1. These rates may change at any time after the account is opened without prior notice.

Why bank with us?

Why bank with us? , open

Safety and security

For 9 years in a row, Bank of America was recognized as having the Best Overall Identity Safety in Banking by Javelin Strategy & Research, the nation's leading provider of financial institution research.

A convenient mobile app

Keep track of your balance and accrued interest on the go. Sign in safely and quickly with fingerprint sign-in or Touch ID.®

A broad network of support

We're here for you anytime, almost anywhere with 24/7 online access and thousands of financial centers.

Rewarding relationships

Qualifying members can earn more rewards with their everyday banking. Learn more about Preferred Rewards.

Why bank with us?

Safety and security

For 9 years in a row, Bank of America was recognized as having the Best Overall Identity Safety in Banking by Javelin Strategy & Research, the nation's leading provider of financial institution research.

A broad network of support

We're here for you anytime, almost anywhere with 24/7 online access and thousands of financial centers.

A convenient mobile app

Keep track of your balance and accrued interest on the go. Sign in safely and quickly with fingerprint sign-in or Touch ID.®

Rewarding relationships

Qualifying members can earn more rewards with their everyday banking. Learn more about Preferred Rewards.
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