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Certificates

How do CDs/share certificates work?

Great question. So, when you purchase a CD/share certificate, you invest a set sum of money for a fixed period of time (we call this a "term"). Terms can be six months, one year, 18 months, or more. In exchange for your pinky promise (well, your signature. Can't run a business on pinky promises.) we pay you interest at regular intervals or at the end of the certificate’s term (we call this "maturity" or "coming due"). At maturity, when you cash in or redeem your certificate, you receive the money you originally invested plus any accrued interest. Sound too good to be true? Well, here's the catch. You have to wait until the end of the term or if you redeem your certificate before it matures, you may have to pay an early withdrawal penalty or forfeit a portion of the interest you earned. Good things come to those who wait, after all.

What happens to my certificate when it matures?

Not a test to see who can make it through an Amy Schumer standup show without giggle, a certificate maturity notice lets you know that your CD has reached the length of time for interest to accrue and has come due. The certificate will be mailed to you approximately two weeks before the maturity date. Just a heads up: certificates will automatically renew on the maturity date at the prevailing rate and for the same term unless you instruct us otherwise by phone (847.576.5199 or toll-free 877.270.6392), sending a secure message online or in writing. Let us know within ten calendar days from the maturity date to avoid being charged an early withdrawal penalty.

How much money can I invest in your CDs/share certificates?

There's a pretty wide spread from the minimum deposit of $1,000 to $250,000+, which will get you super-jumbo certificates. We didn't make that name up. They're really called super-jumbo. Read all about Andigo's certificates.