When your RMO CD reaches its maturity date, you have several options. RMO will notify you through MyRMO and via email approximately 15 days before maturity so you can plan ahead.
Your Options at Maturity:
- Automatic Renewal: By default, your CD will renew into a new CD of the same term length at the current APY. If you are satisfied with the terms, no action is needed.
- Withdraw Your Funds: Transfer your principal and earned interest to your RMO checking or savings account through MyRMO during the grace period.
- Change Your Term: Roll your funds into a different CD product or term length. For example, you could move from a 12-month MyFixed CD to a 24-month MyGrowth CD.
- Partial Withdrawal: Withdraw a portion of your balance and renew the remainder into a new CD.
Grace Period: After maturity, you have a 10-day grace period to make changes without any penalty. If no action is taken during the grace period, the CD will automatically renew.
To review your maturity options or make changes, log in to MyRMO and navigate to your CD account. You can also schedule an appointment through MyRMO or by calling us to speak with an Expert about reinvestment strategies.