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I want to manage my finances today and plan for tomorrow


Preferred Deposit can help you manage your everyday cash needs, make large purchases, finance major life events, and prepare for the unexpected. Benefits include:


  • Competitive yield: With Preferred Deposit, cash is placed into a deposit account with Bank of America, N.A. and you can benefit from a competitive yield to help you optimize your cash.
  • Security: As a bank deposit product, Preferred Deposit balances are insured by the Federal Deposit Insurance Corporation (FDIC) up to applicable limits, so your assets are secure. 
  • Convenience: You can readily access your Preferred Deposit balance – through a financial advisor – to quickly and easily redirect assets for personal needs or to take advantage of market opportunities.

    Preferred Deposit is a bank deposit product held at Bank of America, N.A. and offered through eligible Merrill Lynch brokerage accounts.  With a competitive yield and easy access with same-day settlement, Preferred Deposit can be a valuable addition to your overall investment strategy.  Plus, your Preferred Deposit balance and performance information is available within your Merrill Lynch account statement to give you a consolidated view of your total account assets. 


    For more information on Preferred Deposit, click here.


    Preferred Deposit is an FDIC-insured deposit account at Bank of America, N.A. offered through MLPF&S. The interest rate paid on Preferred Deposit is a variable rate, determined at the discretion of Bank of America, N.A. The interest rate and annual percentage yield may change at any time, without notice or limit.


    Eligible account types include: Cash Management Account® (CMA® Account), CMA Account with CMA Plus® Package, CMA® Account for Trusts, CMA SubAccount®, Beyond Banking® Account, Endowment Management Account (EMA®), EMA II, Retail International CMA (ICMA), and Merrill Edge® CMA Accounts, which are securities accounts with Merrill Lynch, Pierce, Fenner & Smith.



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