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Stock impact report

How to renew a certificate of deposit (CD) [Yahoo! Finance]

Ally Financial Inc. (ALLY) 
Last ally financial inc. earnings: 4/20 07:30 am Check Earnings Report
US:NYSE Investor Relations: ally.com/about/investor
Company Research Source: Yahoo! Finance
Key takeaways A bank may automatically renew a CD for another term, typically at a different interest rate, when a CD matures. There is usually a grace period during which the CD holder can choose to renew a CD, withdraw the funds, or explore other options. It's important to compare rates and consider alternative options before renewing a CD. A certificate of deposit , also known as a CD, is an account that pays interest on your money for a set period of time. The end of the CD's term — also referred to as the time it matures — is when you can choose to cash in the CD or renew it. If you have a CD that's nearing the end of its term, you may be wondering what's involved with renewing it. It's important to know your CD's maturity date and whether you plan to let it automatically renew or cash it in. What happens when a CD matures Most CDs have set terms , which generally range from three months to 10 years. Your money is locked in until the term ends, at which time you'll Show less Read more
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