Single maturity CD Clause Samples

A Single Maturity CD clause defines the terms under which a certificate of deposit (CD) will mature at a single, specified date. This clause typically outlines the maturity date, the interest rate applicable, and the process for redeeming the principal and accrued interest at maturity. For example, it may state that the CD cannot be withdrawn before the maturity date without penalty, and that all funds will be paid out in a lump sum at the end of the term. The core function of this clause is to provide certainty and structure for both the depositor and the financial institution regarding the timing and conditions of the CD's payout, thereby minimizing confusion and managing expectations.