Bankrate.com’s 2015 CD Early Withdrawal Penalty Survey collected data in Los Angeles 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 Los Angeles CD rates

Los Angeles

Term Institution Minimum deposit Yield Penalty for early withdrawal Reduction in principal if accrued and unpaid interest is less than the penalty? Grace period on automatically renewable CDs Are early withdrawal penalties the same for retirement CDs
3-month Bank of America $1,000 0.03% 90 days’ interest on the amount withdrawn Yes 7 days Not offered
3-month Beal Bank $1,000 0.31% Greater of 1% of amount withdrawn or half of the interest that would have been earned on amount withdrawn during entire term Yes 10 days Yes
3-month Chase Bank $1,000 0.01% 1% of amount withdrawn but not more than total interest earned during current term of CD No 10 days Yes
3-month City National Bank $10,000 0.03% 30 days’ interest on amount withdrawn Yes 10 days Yes
3-month Luther Burbank Savings $1,000 0.1% 90 days’ interest Yes 10 days Yes
3-month Malaga Bank $1,000 0.2% 90 days’ interest Yes 7 days Yes
3-month Union Bank $350 0.05% Greater of 31 days’ simple interest on amount withdrawn or the compensating penalty Yes 10 days Yes
3-month Universal Bank $1,000 0.1% 90 days’ interest on the amount withdrawn Yes 7 days Yes
3-month Wells Fargo Bank $2,500 0.01% 3 months’ interest, minimum $25 Yes 7 days Yes
6-month Bank of America $1,000 0.03% 90 days’ interest on the amount withdrawn Yes 7 days Yes
6-month Beal Bank $1,000 0.51% Greater of 1% of amount withdrawn or half of the interest that would have been earned on amount withdrawn during entire term Yes 10 days Yes
6-month Broadway Federal Bank $2,500 0.5% 100% of interest that would have been earned on amount withdrawn Yes 7 days Yes
6-month Chase Bank $1,000 0.01% 1% of amount withdrawn but not more than total interest earned during current term of CD No 10 days Yes
6-month City National Bank $10,000 0.05% 90 days’ interest on amount withdrawn Yes 10 days Yes
6-month Luther Burbank Savings $1,000 0.15% 90 days’ interest Yes 10 days Yes
6-month Malaga Bank $1,000 0.2% 90 days’ interest Yes 7 days Yes
6-month Union Bank $350 0.1% Greater of 91 days’ simple interest on amount withdrawn or the compensating penalty Yes 10 days Yes
6-month Universal Bank $1,000 0.15% 90 days’ interest on amount withdrawn Yes 7 days Yes
6-month Wells Fargo Bank $2,500 0.01% 3 months’ interest, minimum $25 Yes 7 days Yes
1-year Bank of America $1,000 0.05% 180 days’ interest on the amount withdrawn Yes 7 days Yes
1-year Beal Bank $1,000 0.66% Greater of 1% of amount withdrawn or half of the interest that would have been earned on amount withdrawn during entire term Yes 10 days Yes
1-year Broadway Federal Bank $500 0.75% 100% of interest that would have been earned on amount withdrawn Yes 7 days Yes
1-year Chase Bank $1,000 0.01% 1% of amount withdrawn but not more than total interest earned during current term of CD No 10 days Yes
1-year City National Bank $2,500 0.1% 180 days’ interest on amount withdrawn Yes 10 days Yes
1-year Luther Burbank Savings $1,000 0.25% 180 days’ interest Yes 10 days Yes
1-year Malaga Bank $1,000 0.3% 180 days’ interest Yes 7 days Yes
1-year Union Bank $350 0.15% Greater of 91 days’ simple interest on amount withdrawn or the compensating penalty Yes 10 days Yes
1-year Universal Bank $1,000 0.25% 180 days’ interest on the amount withdrawn Yes 7 days Yes
1-year Wells Fargo Bank $2,500 0.05% 3 months’ interest, minimum $25 Yes 7 days Yes
2-year Bank of America $1,000 0.1% 180 days’ interest on the amount withdrawn Yes 7 days Yes
2-year Beal Bank $1,000 0.76% Greater of 1% of the amount withdrawn or replacement cost of amount withdrawn Yes 10 days Yes
2-year Broadway Federal Bank $1,000 1.06% 50% of interest that would have been earned during the entire term on the amount withdrawn Yes 7 days Yes
2-year Chase Bank $1,000 0.05% 2% of amount withdrawn but not more than total interest earned during current term of CD No 10 days Yes
2-year City National Bank $2,500 0.15% 180 days’ interest on the amount withdrawn Yes 10 days Yes
2-year Luther Burbank Savings $1,000 0.75% 12 months’ interest Yes 10 days Yes
2-year Malaga Bank $1,000 0.4% 270 days’ interest Yes 7 days Yes
2-year Union Bank $350 0.2% Greater of 181 days’ simple interest on amount withdrawn or the compensating penalty Yes 10 days Yes
2-year Universal Bank $1,000 0.4% 12 months’ interest on the amount withdrawn Yes 7 days Yes
2-year Wells Fargo Bank $2,500 0.15% 6 months’ interest, minimum $25 Yes 7 days Yes
5-year Bank of America $1,000 0.15% 365 days’ interest on the amount withdrawn Yes 7 days Yes
5-year Beal Bank $1,000 1.25% Greater of 1% of the amount withdrawn or replacement cost of amount withdrawn Yes 10 days Yes
5-year Broadway Federal Bank $1,000 1.46% 50% of interest that would have been earned during the entire term on the amount withdrawn Yes 7 days Yes
5-year Chase Bank $1,000 0.25% 2% of amount withdrawn but not more than total interest earned during current term of CD No 10 days Yes
5-year City National Bank $2,500 0.4% 180 days’ interest on amount withdrawn Yes 10 days Yes
5-year Luther Burbank Savings $1,000 1.85% 12 months’ interest Yes 10 days Yes
5-year Malaga Bank $1,000 1.75% 30 months’ interest Yes 7 days Yes
5-year Union Bank $350 1.01% Greater of 181 days’ simple interest on amount withdrawn or the compensating penalty Yes 10 days Yes
5-year Wells Fargo Bank $2,500 0.35% 12 months’ interest, minimum $25 Yes 7 days Yes

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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