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CD Early Withdrawal Survey: Los Angeles

CD Rates » CD Penalty Chart » Los Angeles

Bankrate.com's 2014 CD Early Withdrawal Penalty Survey collected data in Los Angeles and other cities for five 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 over the survey period in early May of this year.

Los Angeles CD rates

3-month CD

InstitutionMinimum depositYieldPenalty for early withdrawalGrace period on automatically renewable CDsEarly withdrawal penalties the same for retirement CDs?
Institution: Bank of AmericaMinimum deposit: $1,000Yield: 0.03%Penalty for early withdrawal: 90 days' interest on the amount withdrawnGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Not offered
Institution: Chase BankMinimum deposit: $1,000Yield: 0.01%Penalty for early withdrawal: 1% of amount withdrawn but not more than total interest earned during current term of CDGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: City National BankMinimum deposit: $10,000Yield: 0.03%Penalty for early withdrawal: 30 days' interest on amount withdrawnGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Luther Burbank SavingsMinimum deposit: $1,000Yield: 0.2%Penalty for early withdrawal: 90 days' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Malaga BankMinimum deposit: $1,000Yield: 0.2%Penalty for early withdrawal: 90 days' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: OneWest BankMinimum deposit: $1,000Yield: 0.35%Penalty for early withdrawal: 90 days' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Simplicity BankMinimum deposit: $1,000Yield: 0.2%Penalty for early withdrawal: 90 days' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Not offered
Institution: Union BankMinimum deposit: $350Yield: 0.05%Penalty for early withdrawal: Greater of 31 days' simple interest on amount withdrawn or the compensating penaltyGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Universal BankMinimum deposit: $1,000Yield: 0.1%Penalty for early withdrawal: 90 days' interest on the amount withdrawnGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Not offered
Institution: Wells Fargo BankMinimum deposit: $2,500Yield: 0.01%Penalty for early withdrawal: 3 months' interest, minimum $25Grace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes

Bankrate.com's CD Early Withdrawal Penalty Survey studied 100 banks and thrifts from the top 10 metropolitan markets from May 5, 2014 to May 14, 2014. Included were the top five banks and the top five thrifts by deposit size in each market. The top five 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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