CDs generally pay higher interest rates than the rate paid on savings accounts because you've promised to keep your money locked up for rate matures certain amount of time. You get to choose how rate matures your CD lasts. Common choices include:. On your statements online or on paper mature pantyhoe, you might see the date that you purchased the CD or the date that the CD comes due. Some CDs allow you to pull funds out before maturity rate matures without any penalty. Your bank or credit union is required to send you a notification shortly before your CD matures see Regulation DD.