Bank of America has dropped their rates along with the rest of the banking industry. Big banks like Bank of America have historically offered lower rates, and their current rates have not broken this trend. Bank of America’s high yield CD has a yield of 3.06% APY, with a 4 month maturity term. Minimum balance on this CD is $5,000.

Their Risk Free CD offers an even lower rate of 2.75% APY and a 9 month term. However, this CD allows you to withdraw funds prior to maturity without a penalty, which makes it similar to a high yield savings account.

The Bank of America regular savings account yields a pitiful .20% APY compared to Washington Mutual’s 4.00% APY or E*Trade Financial’s 4.10% APY.