Bank of America is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina.

As you asking I am telling when one open a certificate of deposit (CD), their agreeing to keep your money in the account for a specific period of time. If they want to withdraw your money earlier, they will be subject to the following penalties:

For CDs with terms of less than 90 days: all interest earned on the amount withdrawn or seven days interest on the amount withdrawn, whichever is greater
For CDs with terms of 90 days up to 12 months: 90 days interest on the amount withdrawn
For CDs with terms of 12 months up to 60 months: 180 days interest on the amount withdrawn
For CDs with terms of 60 months or longer: 365 days interest on the amount withdrawn

Bank profile:

Type Public

Traded as NYSE: BAC

S&P 100 Component

S&P 500 Component

Industry Banking, Financial services

Predecessor Bank America

NationsBank

Founded October 17, 1904; 112 years ago (as Bank of Italy)

February 1930; 86 years ago (as Bank of America)

1998; 19 years ago (current)

Founder Amadeo Giannini

Headquarters Charlotte, North Carolina, United States

Area served Worldwide

Key people Brian Moynihan

(Chairman and CEO)

Products Consumer banking, corporate banking, finance and insurance,
investment banking, mortgage loans, private banking, private equity, wealth
management, credit cards,

Revenue US$82.50 billion (2015)

Operating income US$21.89 billion (2015)

Net income US$15.89 billion (2015)

Total assets US$2.943 trillion (2016)

Total equity US$256.2 billion (2015)

Number of employees 210,516 (2016)

Divisions Bank of America Home Loans, Bank of America Merrill Lynch

Subsidiaries Merrill Lynch

U.S. Trust

Capital ratio 10.2% (2015)

Rating Long Term Senior

Moody's: Baa1 (10/2016)

S&P: BBB+ (10/2016)

Fitch: A (10/2016)