What to do (and not do) if your CD account matures this March, according to experts

The interest rate environment has changed quite a bit over the last few years, so if you have a certificate of eposit (CD) account maturing soon, rolling your funds into a new CD may not look as appealing as it once would have.

However, today’s CD rates are still fairly high, despite rates easing overall, and if you don’t need access to your cash in the near future, they could help you grow your savings considerably over time. “The good news is that CD yields are still elevated compared with historical averages,” says Amanda Erebia, director of retail banking for Amegy Bank.

Opening another CD account isn’t always the right move, though. If you have a CD about to mature this month, here’s what experts say you should (and shouldn’t) do with the funds from that account.

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What to do (and not do) if your CD account matures this March, experts say

If your CD account is reaching the end of its term this month, here’s what experts say you may want to do — and also avoid:

Don’t just let it roll over

If you know your CD is about to mature, the worst thing you can do is “simply let the clock run out,” says Cassandra Hutchinson, marketing manager at CDValet.com.

“If you take no action, most banks will automatically renew your CD,” Hutchinson says. “Millions of sleepy savers fall into this pattern every year, unintentionally rolling their money into lower-yielding CDs and potentially facing early withdrawal penalties later if the new term doesn’t fit their needs.”

Instead of allowing your CD to roll over to a new account at the same financial institution, shop around for other CDs, other banks and other options. After all, there’s a good chance the best option is not the one your current CD institution is offering.

“Treat your maturity date as an opportunity rather than a formality,” Hutchinson says. “Mark it on your calendar, take a moment to compare rates and terms and make a strategic choice before the grace period ends.”

But what if you accidentally miss your maturity date and your account rolls over? In that case, contact your bank or credit union as soon as possible. You may still be able to pull your money out of the account without being charged for an early withdrawal penalty, depending on how long it’s been.

“You should check what the renewal rate is before renewal, but if you forget, there is a grace period,” says Inigo San Martin, executive director at savings marketplace Raisin. “This lets you withdraw your funds penalty-free.”

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Make your move fairly quickly

Most experts agree that the Federal Reserve won’t cut rates at its upcoming March meeting. But what about later in the year? Experts say they’re more likely to shift rates lower at that point, and that means the potential for lower rates on CDs, too.

“While today’s CD rates are healthy, many forecasters expect them to drift lower later this year if the Fed continues its path toward cuts,” says Amanda Erebia, director of retail banking at Amegy Bank. “It may be worth acting sooner rather than later if people want a return.”

How soon should you act, though? That’s hard to say. According to the CME Group’s FedWatch Tool, a Fed rate cut is most likely in July, but there’s always a chance it could be earlier.

“Most analysts expect one or two 25-point cuts in 2026,” says Mike McCracken, president and founder of Wealth Guide Financial. “I believe they won’t happen until May or later, when possibly a new Fed chair is in place who is more aligned with the current administration’s priorities.”

Avoid savings accounts if you want to maximize interest

Savings accounts are certainly a safe spot to store your cash, but if you’re looking to earn the most interest possible, they’re not the top choice right now, experts say. For one, savings rates are fairly low these days. On traditional savings accounts, savers earn interest at a rate of just 0.39%.

Savings account rates also fall in lock-step with the Fed’s rate, so when the Fed cuts rates later this year, rates on savings accounts will fall, too. And unlike CDs, your account won’t be insulated from those rate changes, which only occur when your account matures. With savings accounts, the lower rate goes into effect immediately.

“Bank high-yield savings and money market accounts are fluid,” McCracken says. “They adjust quickly to Fed moves and current market conditions.”

A savings account would only be wise if you need easy access to the money. And even then, it’s important to shop around, choose your account and bank wisely, and be wary of promo rates.

“Avoid jumping into promotional accounts without reading the fine print,” Erebia says. “Short‑term teaser rates can look attractive but often roll off quickly or require large balances.”

The bottom line

Whatever you decide to do with your maturing CD money, be strategic about it. Know any upcoming financial needs or purchases you might need to cover, understand your long-term goals, and weigh all your options.

From there, “Just keep your money working,” McCracken says. “Find the highest yield for the timeline required.”