What Happens When Your Certificate of Deposit (CD) Matures? When your Certificate of Deposit (CD) reaches maturity, you have important choices to make regarding your savings. At First National Bank of America, we send a reminder before your CD matures so you can decide what works best for your financial goals. During the 10-day grace period, you can renew your CD at the current rate, add more funds, withdraw your money, or make changes based on your needs. Our team is here to make the process simple, secure, and built around helping you get the most out of your savings. WHAT IS A CERTIFICATE OF DEPOSIT (CD)? A Certificate of Deposit (CD) is a low-risk savings account offering a fixed interest rate for a specified term, ranging from a few months to several years. CDs provide higher interest rates compared to regular savings accounts, as you commit to keeping funds deposited for the chosen term. This enables you to grow your savings more efficiently! We offer a wide range of CD terms to fit your needs. With a Certificate of Deposit, you’ll know exactly what return to expect as the high yield rate is locked in from the day you open the account until maturity. Your funds are insured by the FDIC up to $250,000 per depositor. Start earning higher returns by opening a CD online today for as little as $1,000! HOW TO FUND A NEW CD Fund your new CD via ACH transfer from a checking or savings account (excluding brokerage, annuity, or CD accounts). Allow up to ten business days for the funds to be withdrawn from your external account. ACH funding is requested on the date of account opening. ONLINE DEPOSIT ACCOUNTS AVAILABLE Personal Certificates of Deposit Personal High Yield Savings Accounts We do not offer specialized accounts online (e.g., business, trusts, estates, power of attorney, custodial accounts, HSAs, or IRAs). OPTIONS WHEN THE CD MATURES Upon maturity, you can: -Take no action, and your CD will automatically roll over for the same term at the current rate. -Roll over your entire CD into a new term at the current rates. -Withdraw part of your CD and roll the remainder into a new term at the current rates. -Withdraw all funds from the CD. Explore secure investments with certificates of deposit, a reliable option for high-yield savings. Terms range from 12 to 84 months, with FDIC insurance ensuring safety for your financial planning. CD rates offer a guaranteed return, making these fixed-interest deposits a crucial tool for effective money management. Thank you for watching: CD Laddering 101: How To Increase Your Savings #financetips #moneymanagement #cds https://youtube.com/shorts/WydpgzPT0S8 NMLS# 413209 Member FDIC Discover more at: www.fnba.com Connect with First National Bank of America: Official Website: https://www.fnba.com/ LinkedIn: https://www.linkedin.com/company/fnba Facebook: https://www.facebook.com/firstnatlbankofamerica Instagram: https://www.instagram.com/firstnationalbankofamerica/ First National Bank of America NMLS# 413209 | Member FDIC