What is the highest CD rate in history?

The highest CD rates in modern history are decades behind us — around the start of the 1980s. A three-month CD in December 1980 earned 18.65%, according to data from the Federal Reserve Bank of St. Louis.

What were CD rates in 2006?

Six-month CD rates peaked at 5.54% APY in July 2006, followed by another short period of relative stability. Then, of course, the Great Recession hit at the end of 2007 and lasted until mid-2009. The federal funds rate plummeted to just about as low as you could go.

What is the average 1 year CD rate?

Here are the best 1-year CD rates for October 2021: PenFed: 0.60% APY, $1,000 minimum to open. Sallie Mae Bank: 0.60% APY, $2,500 minimum to open. Live Oak Bank: 0.75% APY, $2,500 minimum to open. Ally Bank: 0.55% APY, no minimum to open.

What is the interest rate on a 5 year CD at Bank of America?

Bank of America CD rates

CD term Standard rate*
1-month 0.03% APY
1-year 0.03% APY
3-year 0.03% APY
5-year 0.03% APY

Will CD rates rise in 2021?

CD rates should stay low in 2021 Online banks typically pay higher interest rates on CDs than national brick-and-mortar banks. Online CD rates went down in 2020, but they probably won’t decrease much more in 2021, because they need to pay higher rates to compete with large banks like Chase or Bank of America.

What were CD interest rates in 2016?

Historical CD rates

3-month CD 3-year CD
July 2015 0.08% 0.47%
January 2016 0.08% 0.48%
July 2016 0.08% 0.49%
January 2017 0.08% 0.49%

What were interest rates in 1984?

Average 30–year mortgage rates since 1972

Year Average 30-Year Rate
1983 13.24%
1984 13.88%
1985 12.43%
1986 10.19%

Does Bank of America have good CD rates?

Standard Term CD rates are available online for terms of 28 days to 10 years. These CDs require a minimum deposit of $1,000….Bank of America CD rates.

CD term Standard rate*
1-year 0.03% APY
3-year 0.03% APY
5-year 0.03% APY
10-year 0.03% APY

What are the interest rates on a Bank of America CD?

If you’re looking for high returns on a timed deposit, a Bank of America CD won’t be the account for you. Its interest rates are just too low to yield much growth. Your best chance at growth is to open a Standard Term CD of 60 months or more. The downside to this, however, is you have to wait at least five years to withdraw all that extra cash.

What’s the interest rate on a certificate of deposit?

Open a certificate of deposit (CD) account. Bank CD accounts offer steady interest rates to fit your savings goals. Open a certificate of deposit (CD) account. Skip to main content

How to get a Bank of America CD?

Featured CD. Bank of America’s Featured CD comes only as a 12-month account. Despite being billed as a Featured account, though, this CD does not offer any special perks. The account does not offer a favorable interest rate either. You will need to meet a high minimum deposit of $10,000 to open Bank of America’s Featured CD.

What’s the penalty for taking out a Bank of America CD?

CDs between 90 days and 12 months charge a penalty that equals the amount of 90 days’ interest on the amount withdrawn. For CDs with terms of 12 to 60 months, the penalty is an amount equal to 180 days’ interest on the amount withdrawn.