First Internet Bank will send through US mail a reminder of your CD maturity approximately one month in advance of your maturity date. If you use the online banking site, you may also use the personal reminder option to request an electronic reminder prior to maturity. Click Manage Money, select Mobile Banking & Alerts and click Add an alert. If you do nothing, your First Internet Bank CD will automatically renew at maturity. Each renewal term will be the same as the original term, beginning on the maturity date. The rate on the new CD will be the rate in effect for that term on the maturity date.
If you choose not to renew the CD, you will have a grace period of ten (10) calendar days after maturity to withdraw the funds without being charged an early withdrawal penalty. If you notify us prior to the maturity date that you do not wish to renew the CD, we will close the CD on the maturity date and follow your provided instructions.