Features

• Your CD maturity date can be anywhere between 7 days months and 20 years after your initial deposit. It's important to know your maturity date so you can take action if necessary.
  
  

Interest Earned

• If your CD matures in less than 1 year, your interest earned will be added at the maturity date. Otherwise, interest will be added either annually or semiannually and again at maturity.
  
  

Automatic Renewal

• When your CD is set to automatically renew, your principle and interest will be reinvested for another period if you don't withdraw it before the renewal date.
  
  

Withdrawal

• When your CD automatically renews, you should contact your bank as soon as possible to withdraw your money. There may be a grace period that you can make the withdrawal without penalty.
  
  

Warning

• You may have to forfeit the interest you've earned and be charged an early withdrawal penalty when you cash in your CD before it matures.