FAQs: Questions about CD Accounts

The minimum opening balance varies depending on the type of CD account. View our CD Accounts for details.

You can view all CD interest rates on our Deposit Interest Rates sheet. Visit our Featured CD and Risk Free product pages for rates on these products.

• For CD account terms that are 7-27 days, there is a grace period of 1 calendar day
• For CD account terms that are 28 or more days, there is a grace period of 7 calendar days

Please note that a deposit, withdrawal, or term change can be made only once during the grace period.

A written Maturity notice or Soon to Mature notice will be sent at least 20 days in advance for CD terms of 32 or more days.

To renew your CD, please visit a financial center or call a customer service representative at 888.827.1812.

After submitting your application, the application will be processed and you will be notified of the results via email within 1 to 2 business days.

Interest begins to accrue on the day the application is processed, not the day the application is submitted. Your application will be processed at the interest rate that was effective the day you submitted the application.

The interest rate that was quoted on the day you applied is the rate that is applied to your CD. You will begin to accrue interest on the day the account is processed, not the day you apply.

Yes. When you open a certificate of deposit (CD), you're agreeing to keep your money in the account for a specific period of time. If you want to withdraw your money earlier, you 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• For CDs with terms of less than 90 days: all interest earned on the amount withdrawn or seven days interest on the amount withdrawn, whichever is greater
• For CDs with terms of 90 days up to 12 months: 90 days interest on the amount withdrawn
• For CDs with terms of 12 months up to 60 months: 180 days interest on the amount withdrawn
• For CDs with terms of 60 months or longer: 365 days interest on the amount withdrawn

In addition to these penalties, you will also pay the amount of any cash bonuses you received when you opened or reinvested the account. For complete information about early withdrawals, please refer to page 10 of the Deposit Agreement and Disclosures document.