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Watch Out for CD Maturity Dates

Make sure you check with whoever is holding your CD at maturity. If you do nothing, the financial institution could transfer your CD to a saving account rate, big loss of interest and still tie your money up for an extended period of time.

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They almost got me on this one. The teller said "You snooze, you lose!". I cashed the CD in and I'm heading for the Credit Union.

By Bud from Bradenton, FL

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January 29, 20080 found this helpful
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Very good advice. They DID catch me last year, now I have to wait until 2009 to make a change.

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January 29, 20080 found this helpful
Top Comment

My bank sends me a notice when my cd is due to expire and that the rate may change to a bit lower if I do not respond. So I wait till the day they indicate, walk the five blocks to the bank and in five minutes or less, have the better rate.

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LI Roe

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By Sharon (Guest Post)
January 31, 20080 found this helpful

I have never had a CD, where the bank didn't notify me, when it was coming due...

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