Bank of America is offering an online only High Yield CD with a 5.10% APY rate and a 4 month maturity term. Minimum balance on this certificate of deposit is $5,000. You must open this account through Bank of America’s online website.

They are also offering a Risk Free CD with a 4.85% APY and 8 month maturity term. This account features:

• The ability to withdraw funds prior to the maturity date without penalties2
• A minimum deposit of $5,000 and a short 9 month term
• Get preferred CD rates when you have an Prima® checking account
• Invest up to $500,000 in one or more Risk Free CD’s

While both these rates were previously on the low end, after the Fed’s recent rate cuts they are beginning to look more competitive. In addition, if you already have a Bank of America banking account, the added convenience may make it worth looking into.