Details for RATESEEKER LLC - Ad from 2019-10-06

St. Louis Post-Dispatch

Deposit & Loan Guide

Institution

Synchrony
Bank

Int Chking Money
Acct
Mkt Acct
Min
Min

NA

1.20

NA

0

3 mo
CD
Min

6 mo
CD
Min

0.75

1.00

12 mo
CD
Min

18 mo
CD
Min

2.25

2.25

2,000 2,000 2,000 2,000

24 mo
CD
Min

36 mo
CD
Min

60 mo
CD
Min

2.30

2.35

2.45

2,000 2,000 2,000

Great Rates + Safety = Peace of Mind. Member FDIC.

Phone / Website

800-869-3813
www.synchronybank.com

TO PARTICIPATE IN THIS FEATURE,
CALL SALES DEPARTMENT @ 773-320-8492
Savings Update

What happens to a forgotten CD?
By Sabrina Karl
Though some might find it hard to imagine, money socked away in CDs occasionally falls off the radar. Off the saver’s
radar, that is. But banks don’t forget, and
though you won’t lose your money, you
may not be able to claim it as easily as
you’d like.

But if it’s been months or years, you’ll
have to contact the bank to inquire where
they moved your money.
The good news is that the funds are still
yours. But once they’ve been rolled into
a new CD, you face two disadvantages.
First, the interest rate on the new CD is
not likely to be competitive, so you’ve
given up your chance to earn more with a
better certificate. Second, you’ll be forced
to either wait until the new CD matures,
or pay an early withdrawal penalty. These
penalties vary widely across banks, but
can be steep.

When a certificate’s maturity date is soon
approaching, your bank will remind you of
the upcoming date, along with instructions
for specifying what you want done with
the funds. But if you neglect to provide
instructions, most institutions will roll the
money into a new CD of the same term.
So if your maturing certificate had a fiveyear term, the bank will move the funds Claiming a forgotten CD isn’t complicated,
but you’ll almost certainly reduce your
into a new five-year CD.
earnings by having neglected to act at
If you miss your maturity date, because maturity. So avoid penalties and lost earnyou left mail unopened or you changed ings by putting maturity dates on your caladdress and didn’t receive the notice, endar, opening all financial mail promptly,
there is usually a 10-day grace period and keeping your address up to date with
during which you can still direct the funds. financial institutions.
Rate Criteria: Rates effective as of 10/01/19 and may change without notice. RateSeeker,
LLC. does not guarantee the accuracy of the information appearing above or the availability
of rates in this table. Banks, Thrifts and credit unions pay to advertise in this guide. NA means
rates are not available or not offered at the time rates were surveyed. All institutions are FDIC
or NCUA insured. Yields represent annual percentage yield (APY) paid by participating institutions. Rates may change after the account is opened. Fees may reduce the earnings on the account. A penalty may be imposed for early withdrawal. To appear in this table, call 773-320-8492.

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