Choose a term and deposit amount just right for your business, plus:
- Longer terms can lead to higher yields
- Choose from a wide variety of terms—from 7 days to 10 years
- Automatic CD renewal
- FDIC insured up to applicable limits
To calculate your rate, choose the length of time and the amount you’d like to deposit. Then, select Display Rates.
|Business CD 7 to 27 Days||Interest Rate||APYFootnote 1|
|Less than $10,000||0.03%||0.03%|
|$10,000 - $24,999||0.03%||0.03%|
|$25,000 - $49,999||0.03%||0.03%|
|$50,000 - $99,999||0.03%||0.03%|
|$100,000 - $499,999||0.03%||0.03%|
|$500,000 and over||0.03%||0.03%|
We offer 3 convenient ways top open Business CD:
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.
Bank of America offers a wide range of CD accounts for small business that allow your business to get the security of fixed returns at competitive interest rates. Review and compare small business CD options from Bank of America and find the CD that meets the needs of your growing business.
|Open Now Business Risk Free CD®||Open Now Business Featured CD||Open Now Standard Business – Shorter Term||Open Now Standard Business – Longer Term|
|Good for you if||You want guaranteed returns with a short-term commitment plus the ability to withdraw funds without a penalty||You want locked-in rates at a higher yield||You want short-term access to your funds||You want to receive higher interest rates for longer terms/higher balances|
|Annual Percentage Yield||0.04% $5,000 minimum deposit||0.07% Fixed until maturity $10,000 minimum deposit||0.03% $15,000 minimum deposit||0.03 – 0.15% $1,000 minimum deposit|
|Benefits||Automatic CD renewal||Automatic CD renewal||Automatic CD renewal||Automatic CD renewal|
|Term||9 months||12 months||7 - 27 days||28 days - 10 years|
|Early withdrawal fee||No||XYes||XYes||XYes|
|Transaction limitations||No additional deposits until maturity||No additional deposits until maturity||No additional deposits until maturity||No additional deposits until maturity|
|FDIC insured up to applicable limits||XYes||XYes||XYes||XYes|
|Small Business Online Banking||XYes||XYes||XYes||XYes|
|Business Risk Free CD® Open Now Business Risk Free CD®||Business Featured CD Open Now Business Featured CD||Standard Business – Shorter Term Open Now Standard Business – Shorter Term||Standard Business – Longer Term Open Now Standard Business – Longer Term|
Small Business Online Banking allows you to access information for multiple accounts, view current daily balances, get detailed transaction reports, and perform a wide range of other essential banking services.