We offer 3 convenient ways to open a Business CD:
- Open a Business Risk Free CD account online (existing Online Banking customers only)
- Call 866.543.2808
- Visit a financial center
What you'll need to apply
Once we have your application and required supplemental documents, your account could be open within 24 hours. Remember, you have 11 days after you apply to send us your supplemental documents.
Yes. Bank of America will automatically renew the account by redepositing funds on the maturity date, which is the first day after the term ends. We redeposit both principal and interest. You can elect to receive the interest earned on the account, a portion of the account or the entire amount of the account. The term for the automatically redeposited deposit is the same length as the previous term of the account.
Opening deposits vary by CD type. Compare CDs
If you already have a Bank of America account, you’ll transfer money from an existing account for your opening deposit. If for some reason your account isn’t approved, your transfer will be canceled.
If you don’t already have a Bank of America account, you’ll need to visit a banking center to open a Small Business CD account.
No. There are no additional fees to sign up for and use Bank of America Small Business Online Banking. In fact, once you sign up you’ll have access to our online and mobile features such as mobile check deposit, online account management tools and access to your account online 24/7. Fees may apply for additional services.