You will receive a maturity notice by mail prior to the maturity date of your Time Deposit. At this point, you can notify the bank, (by phone, in a branch, or by emailing firstname.lastname@example.org) if you decide to close the Time Deposit. If you choose to close the Time Deposit you will receive the amount in your account upon maturity by check. If you have other accounts with ConnectOne Bank, you may also have the funds transferred into one of those accounts.
If you don’t notify the bank that you’d like to close the Time Deposit, your account will automatically renew for the same term at the prevailing rate. More information can be found in the Time Deposit product disclosure.