Is there an early withdrawal penalty for CDs?

Yes, withdrawals done on FAIRWINDS CD outside of the maturity period will be subject to an early withdrawal penalty. The amount of the early withdrawal penalty is based on the term of your account. The penalty schedule is as follows:

• CD Terms of 3 months or less = 1 month’s interest
• CD Terms of 4 months to 11 months = 3 months’ interest
• CD Terms of 12 months to 24 months = 6 months’ interest
• CD Terms of 25 months or longer = 9 months’ interest

After the maturity period has expired, early withdrawals will incur penalties according to the terms found in the current Truth in Savings disclosure. 

You may also need: 

• Can I change or close my certificate of deposit (CD) in Online Banking?
• How can I find the maturity date for my certificate of deposit (CD) in Online Banking?