I'm trying to apply for a savings account online. The interest rate paid is 1.00%. What exactly does the "maturity" box mean where I'm supposed to enter the years and months. Does it mean when I want the bank to stop paying interest to my account or will I not be able to withdraw money from the account until the maturity date?
Be sure that you are working on a savings account page and not one for a time deposit (CD). Typically, a deposit account maturity suggests that you're looking at a time deposit (CD) with early withdrawal penalties. Savings accounts don't have maturity dates.
If you are having trouble using the online site, try to contact the bank by telephone for assistance. There should be contact information on the website.
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Be sure that you are working on a savings account page and not one for a time deposit (