Interest On CD Added After Maturity?

pld321288
  |     |   1 posts since 2012

I never heard of this and so not sure ehat the catch is if any. What question need to be ask for such a thing?



Answers
paoli2
  |     |   2,641 posts since 2011
I have never had a CD earn interest "after" the day it matures in the 7 - 10 day grace period.  It is usually stated in the disclosure.  We get all our interest up to the maturity day.  This is why I if I am going to close the accounts to take to another bank, I try to do it on the first day so it can start earning interest at the new bank or cu.  Any and all interest up to the maturity date always belongs to us and if it hasn't been sent monthly to our bank or in the mail, it must be included in the total balance in the check we receive.


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