When A CD Matures,Say 12-31-17 And You Close In Maturity Date Per CD Contract And Close At 11A.M., Are You Suppose To Get Interest For 12-31-17

Samsung0318 | Feb 15, 2018 | 2 posts since 2017

When a CD matures,say 12-31-17 and you close in maturity date per CD contract and close at 11a.m., are you suppose to get interest for 12-31-17 or till 12-30-17 , because you close the CD on maturity date, special ly on 100k CD? Can you help answer this please?

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Answers

anzavista | Feb 15, 2018 | 14 posts since 2012

I don't think one receives interest on the maturity date as that is when the funds are withdrawn

Sylvia | Feb 15, 2018 | 389 posts since 2012

I think it depends on the bank. Ask where you have the CD. I've closed out CDs after the maturity date. Some continued paying interest through that date (at rollover rate), others only until maturity. Policies can vary.

Ally6770 | Feb 15, 2018 | 4,294 posts since 2010

Many banks and credit unions do not let you withdraw the funds until the day after the maturity. The day of maturity is the date the interest is earned and posted that night and you can withdraw it the following day.

paoli2 | Feb 16, 2018 | 2,641 posts since 2011

Must depend upon the bank. I have gone to many banks on the first day of Maturity and make sure they are adding any additional interest to the check they give us. I have never been told I had to wait until the next day. Like I wrote, must depend upon the bank one deals with.

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