What to do if your CD account matures this September
Have a CD account with a September 2026 maturity date? Here's what you should do with your funds next.
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August 26, 2026 / 3:48 PM EDT / CBS News
With new unemployment, inflation and interest rate developments all looming this September, some savers may have forgotten that they also have another important date on the calendar. If they opened a certificate of deposit (CD) account in recent months or years, its maturity date could arrive in the month. And with many banks only offering a short grace period of approximately two weeks for savers to decide what they want to do with the funds before they rollover into a new account, it's critical to start contemplating your next moves now, while you still have plenty of time to shift your savings strategy.
Moving your maturing CD money into a traditional savings account, however, isn't really a viable option right now, no matter how advantageous that account may have once been. With an average rate of just 0.38%, according to an update released by the FDIC last week, leaving money there equates to a failure to outpace inflation. And with multiple, high-rate account types that can offer returns exponentially higher without restricting access the way the CD did, it's not necessary.
So, understanding that moving your maturing CD funds into a traditional savings account isn't viable or profitable, where should you instead move your money next? Below, we'll outline two credible options, both of which are positioned to earn more interest if the rate climate heats up again.
See how much interest you can be earning with a top savings account online now .