How to Reallocate Funds When Your CD Matures This September
Savvy depositors should avoid automatically rolling a maturing CD into another term deposit and instead consider high-yield savings or money-market accounts for better returns.
As September approaches, depositors with CDs reaching maturity face a narrow window—typically about two weeks—to decide their next move. Keeping the money in a conventional savings account, which averages a 0.38% return per the latest FDIC data, would fail to keep pace with inflation. Financial advisers recommend redirecting the funds into either a high-yield savings account, currently topping out at roughly 4.10%, or a money-market account that combines strong interest with check-writing features.
Both vehicle types are variable-rate and can respond to future rate changes, preserving liquidity that a new CD would restrict. Online banks often post the most attractive rates, so consumers should compare offers on rate-comparison platforms before the September deadline. By proactively selecting one of these alternatives, savers can aim for higher yields while maintaining easy access to their cash.
Why it matters
Choosing the right account after a CD matures can protect savings from inflation and boost earnings.
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