![]() With so many term options available, Bank of America standard CDs are a great option if you want to build a CD ladder. All standard CD terms currently earn 0.03% APY. They also only require a $1,000 minimum deposit. Featured CDs earn between 0.05% to 5.00% depending on the term.īank of America Standard Term Certificates of Deposit offers even more flexibility, with terms ranging from 28 days to 10 years. Bank of America Featured Certificates of Deposit accounts require a $1,000 minimum deposit and come in five term lengths ranging from seven months to 37 months. There are two options for certificates of deposit, or CDs, through Bank of America. ![]() The fee is waived by keeping a minimum daily balance of $500. Also, the account requires a $100 minimum deposit and carries an $8 monthly maintenance fee. Minors can’t access funds until after they turn 18 years of age, so all transactions are at the parent’s discretion. The parent or guardian acts as the custodian for the child’s account. The account allows for automatic transfers from your other accounts if you want to build up your child’s savings.Ĭustodial UTMA Savings accounts work differently. Children have access to their funds at any time. As long as an account owner is under the age of 18, this account has no monthly fees or overdraft fees and no minimum balance requirement. Minors can open an Advantage Savings account as a joint account with a parent or guardian. Bank of America Preferred Rewards members can earn up to 0.04% APY, depending on their rewards tier level.īank of America also offers two accounts for children-the Bank of America Minor Savings Account and the Bank of America Custodial UTMA Savings Account. There’s also a $10 fee for each withdrawal or transfer over the six monthly transactions allowed.Ĭurrently, Advantage Savings accounts earn 0.01% APY on all balances. This fee is waived for the first six months for new Bank of America Advantage Savings accounts.
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