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What happens when my CD matures?

You will be notified 30 days prior to maturity of your CD. Once your CD matures, you can explore renewal options during the 10-day grace period and make adjustments by simply logging into online banking or the LendingClub App.

If you take no action, the CD will renew into the same term CD from which it is maturing at the prevailing rate.

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Related FAQ's
Can I add additional funds to my CD?
No. Additional deposits cannot be made to a CD following the initial deposit until the CD matures. 
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What is the minimum balance to keep in my savings account?
Once the minimum opening deposit is met, there is no monthly minimum balance requirement to maintain your account
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How do I earn interest on my savings account?
There is no minimum balance required to earn interest in your savings account. At the end of each month, the interest payment will be deposited into your account.
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Can I withdraw my money early from my CD and are there penalties?
The goal of a CD is to lock in a fixed rate at the time of purchase for a fixed time horizon, and therefore, to get the most benefit from the CD purchase, you are going to want to remain in the product for the entire term, whether it is a 6 month, 1 year or 5 year CD.
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Are there any fees for my savings account?
There are no monthly maintenance, overdraft, or NSF fees for your account.
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{noun} The total annual cost to borrow money, including fees, expressed as a percentage.
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Accrued Interest
{noun} The amount of unpaid interest that has accumulated as of a specific date, either on a loan or an interest-bearing account or investment. 
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Charge-Off
A debt that is written off as a loss because the financial institution or creditor believes it is no longer collectible due to a substantial period of nonpayment.
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Fixed Interest Rate
{noun} An interest rate that remains the same for a set time, usually for the life of the loan.
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Unless otherwise specified, all credit and deposit products are provided by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Credit products are subject to credit approval and may be subject to sufficient investor commitment. Credit union membership may be required. Deposit accounts are subject to approval. Deposit products are FDIC-insured up to $250,000 per depositor, per ownership category.

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