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Certificate of Deposit (CD)

Get steady, predictable income with brokered CDs

How do CDs work?

In exchange for depositing your money into a certificate of deposit (CD) for a fixed time period, the issuer agrees to pay you back at a predetermined interest rate. When the CD matures, you get back the principal amount plus any interest that has accrued.

What's the difference between brokered CDs and traditional CDs?

Brokered CDs are purchased through a brokerage firm instead of directly at a bank, and yields on brokered CDs may be higher than yields on similar bank CDs.
If you need to access your funds before the CD's term ends, you may attempt to sell your CD if a market exists. The price can fluctuate based on the current interest rate environment.

Benefits of Brokered CDs

  • Can provide steady, predictable income
  • May offer more competitive yields than bank CDs
  • Are federally insured up to $250,000 per issuer per depositor
  • Offer potential to mitigate risk and diversify your portfolio

How to purchase CDs

Once you're logged into your account, you can use Merrill's fixed income Screener under the Research tab to search for CDs to purchase. Use pre‑defined search parameters or select your own criteria to find the CDs that align with your preferences.
If you already know the CUSIP number or issuer of the CD you want to purchase, you can go directly to the Trade tab and select Fixed Income to enter that information.

Ready to get started?

Schedule an appointment with Merrill
or call us at 888.866.2190

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Frequently Asked Questions

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Investing in securities involves risks, and there is always the potential of losing money when you invest in securities.

Asset allocation, diversification, and rebalancing do not ensure a profit or protect against loss in declining markets.
Merrill, its affiliates, and financial advisors do not provide legal, tax, or accounting advice. You should consult your legal and/or tax advisors before making any financial decisions.

This material is not intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. Merrill offers a broad range of brokerage, investment advisory (including financial planning) and other services. Additional information is available in our Client Relationship Summary (PDF).

Merrill Lynch, Pierce, Fenner & Smith Incorporated (also referred to as "MLPF&S" or "Merrill") makes available certain investment products sponsored, managed, distributed or provided by companies that are affiliates of Bank of America Corporation ("BofA Corp."). MLPF&S is a registered broker-dealer, registered investment adviser, Member Securities Investor Protection (SIPC) popup and a wholly owned subsidiary of Bank of America Corporation ("BofA Corp").
Merrill Lynch Life Agency Inc. (MLLA) is a licensed insurance agency and wholly owned subsidiary of BofA Corp.

Banking products are provided by Bank of America, N.A. and affiliated banks, Members FDIC and wholly owned subsidiaries of Bank of America Corporation.

Investment products offered through MLPF&S and insurance and annuity products offered through MLLA:
Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value
Are Not Deposits Are Not Insured by Any Federal Government Agency Are Not a Condition to Any Banking Service or Activity

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