I have $21,000 in Indymac bank, in a CD, which mature next month?

Question

Now that the bank went under do i have to wait until the cd expires r can i get my money back now?

And how do i go about getting my money back, and how long will it take?

Answer 1

It will mature. Indymac was taken over. either wait until next month and your money will come back or if FDIC has to step in it will take about 10 days after it matures.

Happened to me with Arkansas Nation bank Cd.  Not a big deal!  That is what FDIC insurance is for.  It will insure both your principal and earned interest on your 21k.

Answer 2

According to one article I've read.  It will be business as usual for IndyMac customers on Monday.  As long as your deposit is FDIC insured, then everything will be the same as before for you.

http://www.marketwatch.com/News/Story/St...

Answer 3

Contact your bank and ask them.