- Offer good for the initial term only. CD is automatically renewed for the same term. The rate is determined based on the published rate for the CD, excluding CD Specials, that is closest to but not exceeding the term of the CD. Advertised rate and APY are offered at the bank's discretion and may change daily. Return to content, Footnote 2.
- Bank of America is offering one of the best CD rates for 7 month CD, this promotional CD rate is currently 3.68% with an APY of 3.75%. The rate is only available online at bankofamerica.com and is only for the initial term of a new CD.
- Bank Of America Bank Cd Rates Specials
- What Bank Is Offering The Best Cd Rates
- Bank Of America Cd Rates Special Promotion
Bank of America's customer service and feature set have been absolutely appalling over the 8+ years that I have been with the bank. They have constantly changed account standings, settings, and issue fees even though my account was well above the threshold for these.
- No maintenance or opening fees
- Higher interest rates elsewhere
- Only three account options
- Existing customers who want to open more savings accounts
Bank of the Ozarks is a smaller bank that offers only three certificate of deposit terms. There is a slightly high minimum deposit requirement of $1,000 which might prevent potential customers from opening an account. If you’re able to open an account, however, you’ll be better off by opening the 24-month account. That way you can get the best CD rate the bank offers, although not the highest in the industry.
Luckily, there is no fee to open or maintain a Bank of the Ozarks CD account.
Bank Of America Bank Cd Rates Specials
| Personal CD | Minimum Deposit | APY |
| 6 Month | $1,000 | 0.05% |
| 12 Month | $1,000 | 0.18% |
| 24 Month | $1,000 | 0.45% |
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again. |
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again. |
Overview of Bank of the Ozarks CDs
Bank of the Ozarks’ three CD terms offer low to mediocre interest rates that are fixed for the entirety of the term. It could potentially be the most beneficial for you to open all three CD accounts at the same time. However, this will require you stashing at least $3,000 away into these accounts. You’ll want to make sure you can safely put that money away without needing it for rent or another crucial expense. Creating this CD ladder of three accounts allows you to receive payouts over the years from each account.
You will face a penalty fee if you make an early withdrawal from your CD. You’ll want to double check what these penalties might be with your banker or the terms and conditions when you open your account.
How Much You Earn With Bank of the Ozarks Certificate of Deposits Over Time
As you can see in the table below, Bank of the Ozarks CDs don’t really yield big savings. By meeting the minimum deposit of $1,000, you’ll see growth of a few dollars with the 12-month and 24-month CDs and only a few cents with the shorter 6-month account. You’ll need to make larger deposits to see larger returns. However, you don’t want to stretch your money just to earn more with a Bank of the Ozarks CD. In that case, it would make more sense to find a bank with better CD rates and lower minimums.
| Initial Deposit | 6-Month CD | 12-Month CD | 24-Month CD |
| $1,000 | $1,000.25 | $1,002 | $1,009 |
| $5,000 | $5,001 | $5,009 | $5,045 |
| $10,000 | $10,003 | $10,018 | $10,090 |
How Bank of the Ozarks CDs Rates Compare to Other Banks
With only three CD account options, Bank of the Ozarks doesn’t have too much to compare to other banks. Many banks have a variety of CD terms from 3 months to up to 10 years. Another bank that only offers three CD accounts is HSBC, again with six-month, 12-month and 24- month options. HSBC also requires a $1,000 minimum deposit. However, HSBC offers much better rates than Bank of the Ozarks.
If you’re looking for a wider range of CD terms and higher-earning rates, you can check out online banks like Ally and Marcus by Goldman Sachs. Ally doesn’t require a minimum deposit but allows for higher balances to earn at higher rates. The bank also offers three types of CD accounts so you can find the account that works best for you and your financial situation.
Marcus doesn’t offer quite as many options as Ally, but with nine available terms, it still offers more than Bank of the Ozarks. Marcus also allows for a lower minimum deposit of $500.
| CD Account | Bank of the Ozarks | HSBC | Ally | Marcus by Goldman Sachs |
| 6 Month | 0.05% | 0.75% | 0.75% | 0.60% |
| 1 Year | 0.18% | 0.80% | 1.50% | 1.85% |
| 2 Year | 0.45% | 0.80% | 1.55% | 1.85% |
| 5 Year | - | - | 1.60% | 1.90% |
Compare Bank OZK to Other Competitive Offers
Should You Get a Bank of the Ozarks CD Account?
You should consider getting a Bank of the Ozarks CD account if you’re already a customer with the bank. This will make it easier to add another account rather than becoming a new customer. It may also be easier to find out about the bank’s CD terms and conditions, especially its early withdrawal penalties. Additionally, it might be best to open a Bank of the Ozarks CD account if you live near a bank branch.
Take advantage of VERY SPECIAL RATES while they last.
Unlike many banks, you are not required to open a checking account. You do not need an extraordinary deposit. We just like to keep things simple and offer great rates.
This Weeks Featured CD Specials
Offer expires on 3/2/2021 or sooner at the discretion of Marquette.
Disclosures: Minimum to open $500.00. Penalty for early withdrawal. Fees may reduce earnings. APY is accurate as of: 2/23/2021. Rates subject to change weekly.
What Bank Is Offering The Best Cd Rates
| 61 – Month CD Special | Interest Rate .50% | APY .50% |
| 45 – Month CD Special | Interest Rate .40% | APY .40% |
| 31 – Month CD Special | Interest Rate .30% | APY .30% |
| 18 – Month CD Special | Interest Rate .25% | APY .25% |
| 9 – Month CD Special | Interest Rate .20% | APY .20% |
Open your CD to lock in our special rates!
Bank Of America Cd Rates Special Promotion
Contact your nearest Marquette branch office for more information.