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CD Early Withdrawal Survey: Detroit

CD Rates » CD Penalty Chart » Detroit

Bankrate.com's 2015 CD Early Withdrawal Penalty Survey collected data in Detroit and other cities for 5 of the most common CD maturities being sold today. This chart gives you an easy way to compare CD offerings by institution, metropolitan area and maturity using the survey data we collected in October of this year.

Compare Detroit CD rates

Detroit

TermInstitutionMinimum depositYieldPenalty for early withdrawalReduction in principal if accrued and unpaid interest is less than the penalty?Grace period on automatically renewable CDsAre early withdrawal penalties the same for retirement CDs?
3-monthBank of America$1,0000.03%90 days' interest on the amount withdrawnYes7 daysNot offered
3-monthChase Bank$1,0000.01%1% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
3-monthComerica Bank$1,0000.03%30 days' interest on amount withdrawnYes10 daysYes
3-monthDearborn Federal Savings Bank$5000.1%1 month of interestYes7 daysYes
3-monthFifth Third Bank$5000.05%1% of principal withdrawnYes10 daysYes
3-monthFlagstar Bank$5000.15%30 days' interestYes10 daysYes
3-monthPNC Bank$1,0000.05%3 months' interest on amount withdrawnYes10 daysYes
3-monthSterling Bank & Trust$5000.2%30 days' interest on amount withdrawnYes7 daysYes
3-monthThe Huntington National Bank$1,0000.01%3 months' interestYes10 daysYes
6-monthBank of America$1,0000.03%90 days' interest on the amount withdrawnYes7 daysYes
6-monthBestBank$1,0000.03%90 days' interestYes7 daysYes
6-monthChase Bank$1,0000.01%1% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
6-monthComerica Bank$1,0000.04%90 days' interest on amount withdrawnYes10 daysYes
6-monthDearborn Federal Savings Bank$5000.15%2 months' interestYes7 daysYes
6-monthFifth Third Bank$5000.05%2% of principal withdrawnYes10 daysYes
6-monthFlagstar Bank$5000.2%1 month of interestYes10 daysYes
6-monthPNC Bank$1,0000.06%3 months' interestYes10 daysYes
6-monthSterling Bank & Trust$5000.4%90 days' interest on amount withdrawnYes7 daysYes
6-monthThe Huntington National Bank$1,0000.1%3 months' interestYes10 daysYes
1-yearBank of America$1,0000.05%180 days' interest on the amount withdrawnYes7 daysYes
1-yearBestBank$1,0000.05%180 days' interestYes7 daysYes
1-yearChase Bank$1,0000.01%1% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
1-yearComerica Bank$1,0000.1%180 days' interest on amount withdrawnYes10 daysYes
1-yearDearborn Federal Savings Bank$5000.3%3 months' interestYes7 daysYes
1-yearFifth Third Bank$5000.05%2% of principalYes10 daysYes
1-yearFlagstar Bank$5000.3%6 months' interestYes10 daysYes
1-yearPNC Bank$1,0000.1%6 months' interestYes10 daysYes
1-yearSterling Bank & Trust$5000.65%180 days' interest on amount withdrawnYes7 daysYes
1-yearThe Huntington National Bank$1,0000.1%6 months' interestYes10 daysYes
2-yearBank of America$1,0000.1%180 days' interest on the amount withdrawnYes7 daysYes
2-yearBestBank$1,0000.05%180 days' interestYes7 daysYes
2-yearChase Bank$1,0000.05%2% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
2-yearComerica Bank$1,0000.15%180 days' interest on the amount withdrawnYes10 daysYes
2-yearDearborn Federal Savings Bank$5000.35%6 months' interestYes7 daysYes
2-yearFifth Third Bank$5000.15%2% of principalYes10 daysYes
2-yearFlagstar Bank$5000.55%6 months' interestYes10 daysYes
2-yearPNC Bank$1,0000.25%6 months' interestYes10 daysYes
2-yearSterling Bank & Trust$5000.9%360 days' interest on the amount withdrawnYes7 daysYes
2-yearThe Huntington National Bank$1,0000.15%12 months' interestYes10 daysYes
5-yearBank of America$1,0000.15%365 days' interest on the amount withdrawnYes7 daysYes
5-yearBestBank$1,0000.1%180 days' interestYes7 daysYes
5-yearChase Bank$1,0000.25%2% of amount withdrawn but not more than total interest earned during current term of CDNo10 daysYes
5-yearComerica Bank$1,0000.35%180 days' interest on the amount withdrawnYes10 daysYes
5-yearDearborn Federal Savings Bank$5000.75%12 months' interestYes7 daysYes
5-yearFifth Third Bank$5000.55%3% of principalYes10 daysYes
5-yearFlagstar Bank$5001%6 months' interestYes10 daysYes
5-yearPNC Bank$1,0000.55%6 months' interestYes10 daysYes
5-yearSterling Bank & Trust$5001.85%360 days' interest on amount withdrawnYes7 daysYes
5-yearThe Huntington National Bank$1,0000.55%12 months' interestYes10 daysYes

Bankrate.com's CD Early Withdrawal Penalty Survey studied 100 banks and thrifts from the top 10 metropolitan markets Oct. 1-13, 2015. Included were the top 5 banks and the top 5 thrifts by deposit size in each market. The top 5 credit unions from across the country by assets also were surveyed. In some instances, the institution did not offer all maturity periods.

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