Website: http://www.bankofamerica.com

Authority: Bank of America is a major US chartered national bank with its deposits FDIC insured. It has a large presence across the United States with a presence of 6104 branches in 36 states according to the FDIC website in 2011. Its historical ties are from 1904 and has one of the largest ATM networks in the country. 

How to open a Bank of America Certificate of Deposit:

- You can apply directly online at the bank website: http://www.bankofamerica.com

- You may also visit one of the Bank of America branches maintained by their staff which you can find by searching on their website by various parameters including address, zip code, city or state.

What information you may require to open a US Bank of America Certificate of Deposit:

- This may include but not limited to a US social security number, a debit or account number, a home address, email, banking ID and password ....

Information to consider when opening Bank of America 5 Year CD Rates:

While some definitions do vary, a medium term investment can considered in general anywhere from above 1 year up to 10 year maturity time periods.  It is a fixed interest investment with interest agreed to upfront. Bank of America provides 5 Year CD Rates in conjunction with longer dated and shorter dated products depending on your preference on the time horizon for keeping your money invested.  

The interest is determined by a number of factors however because this is a medium term dated product it is forecasted with the most highly influential factor determined by the direction of monetary policy set by the Federal Reserve (US central bank) as well as forecasts. If inflation will be a concern in few years because of higher economic growth, then yields on CD rates may be higher, however the opposite may also be true. Because the economy is dynamic it may change the 5 year rates significantly rather then a 6 month cd which looks at more current factors because it is constantly re-evaluating forecasts. This change could be from events in the economy, such as improvement or deterioration in future prospects of economic growth forecasts. Other factors affecting rates may also include the banks future liquidity requirements and anticipated interest margin on deposits.

The rate below applies for a deposit range from 5 Year -  119 Months and  is for the Standard CD/IRA Product which was calculated for the State of California. It also requires a minimum of $1000.