Back to browsing
Are there penalties for early withdrawals from Certificates of Deposit?
Yes. If your account has an original maturity of 31 days or less, the fee we may impose will equal seven days interest on the amount withdrawn subject to penalty. If your account has an original maturity of 32 days through one year, the fee we may impose will equal one month's interest on the amount withdrawn subject to penalty. If your account has an original maturity over one year, but less than 48 months, the fee we may impose will equal six months interest on the amount withdrawn subject to penalty. If your account has an original maturity of 48 months or longer, the fee we may impose will equal twelve months interest on the amount withdrawn subject to penalty.
 
Note: Regarding the Rising Rate CD (a 5-year stepped-rate CD), the fee we may impose will equal six months' interest on the amount withdrawn subject to penalty. However, you will be allowed a penalty-free option once each year (in conjunction with each annual anniversary) to cash-in/ redeem the certificate without being assessed a penalty for early withdrawal.