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.
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