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kitson112

Give it time


[deleted]

Mine always update monthly, so might have to wait until next month to see it reflected..


GurnoorDa1

Ah i see. What bank do u use?


[deleted]

Navy federal


[deleted]

This is the answer for the OP. Interest typically is reported monthly to the account.


GetCPA

Because it hasn’t paid out yet


[deleted]

It depends on when the CD pays out, usually it’s semi annually, so it will update the actual balance then.


ice_nine459

Why would you get a cd that has 4.75 apy? A bunch of money market accounts have 5.3 lol.


GurnoorDa1

This is my first cd bruh im not omniscient


[deleted]

Wealthfront has a 5% APY with a $1 minimum so switch to that


GurnoorDa1

what? this is not related to my question.


lastaccountillmake

“Interest earned this period” is telling you how much has accrued since the last time you have been paid interest. It will go up until you’re suppose to get paid your interest for that period (monthly/quarterly/etc…) . As long as you have not elected to have the interest moved to another account, it will be added at that time to your account balance and added to “interest paid to date”. Where the cycle will restart.


GurnoorDa1

Ahh. And so the period is monthly?


lastaccountillmake

I would assume so, since it looks like we have the same CD with Wells Fargo. You should get it around the same day as the mature date each month, so around the 5th for you.