Take the guesswork out of saving with the Featured CD IRA.
- FDIC insured to the maximum allowed by law1
- Available in Roth, Traditional and Rollover IRAs
- Low $2,000 minimum opening balance2
- 12-month term2
- Automatically renews to another Featured CD IRA2
- Additional deposits accepted at maturity
Questions & Answers
What happens when the 12-month term expires? Is there anything I need to do?
Before your CD matures, you will receive a maturity notification. If you choose to do nothing, the CD will automatically renew into a new CD with the same term at the interest rate offered at that time for CDs with that term.1 You may also call us or visit your local banking center at that time to select a product that better fits your needs.
How will I make the initial contribution/investment?
Initial contributions can be made from an existing Bank of America deposit account (checking, savings, CD, or maturing CD IRA). You can also roll over qualified retirement plans or transfer IRAs.
Once I make the initial contribution, do I need to do anything or is it automatically deposited in a CD?
There is nothing else you need to do for your funds to be deposited in the CD. However, you will receive an online Adoption Agreement and beneficiaries form in the mail as part of your welcome package. Please fill these out and return them to us as soon as possible.
If I want to deposit more at a later date, can I do so?
Yes, if you would like to deposit all of your funds in the same CD, you may add funds at maturity/renewal. You may also open an additional CD or money market IRA to add to your plan at any time.
Can I open this account at a bank branch or over the phone?
Yes, this product is available in banking centers, by phone or online.