The Maturity Date is the date your CD account is scheduled to be closed (unless that CD account is renewed). A penalty may be imposed for a withdrawal of principal before the Maturity Date. Your CD will automatically renew on the Maturity Date – unless we are no longer offering a CD with the same term as your maturing CD, or if you notify us that you would not like your CD to be renewed. At maturity, you will have a 10 calendar-day period (grace period) during which you can withdraw funds from your CD account without penalty, or add additional funds to increase the total funds held in that CD.
In order to change the maturity option and prevent automatic renewal, you must call us prior to the maturity date or send us a written notice which we receive from you before the end of the grace period. For more information, please see the personalsavings.americanexpress.com/deposit_terms for additional terms and conditions and Truth-In-Savings disclosures. Also see “Automatic Renewal”.