If I have money in a CD in a bank that closes, will the FDIC only pay my initial deposit amount, or am I also entitled to the quarterly interest that was paid to the account?
You would be entitled to interest at the contracted for rate, up until the date the bank is closed. That assumes your total amount is within the dollar amount specified for insured limits.
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You would be entitled to interest at the contracted for rate, up until the date the bank is closed. That assumes your total amount is within the dollar amount specified for insured limits.
