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CD Early Withdrawal Survey: New York

CD Rates » CD Penalty Chart » New York

Bankrate.com's 2014 CD Early Withdrawal Penalty Survey collected data in New York and other cities for five of the most common CD maturities being sold today. This breakdown 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.

New York CD rates

3-month CD

InstitutionMinimum depositYieldPenalty for early withdrawalGrace period on automatically renewable CDsEarly withdrawal penalties the same for retirement CDs?
Institution: Apple Bank for SavingsMinimum deposit: $1,000Yield: 0.05%Penalty for early withdrawal: $50, plus 1% of amount withdrawnGrace period on automatically renewable CDs: 5 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Astoria BankMinimum deposit: $500Yield: 0.05%Penalty for early withdrawal: 90 days' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Bank of AmericaMinimum deposit: $1,000Yield: 0.01%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: Capital One BankMinimum deposit: $1,000Yield: 0.1%Penalty for early withdrawal: $25, plus 1% of amount withdrawnGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Chase BankMinimum deposit: $1,000Yield: 0.01%Penalty for early withdrawal: 1% of amount withdrawn but not more than total interest earned during current term of CDGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for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: CitibankMinimum deposit: $500Yield: 0.05%Penalty for early withdrawal: 30 days' simple interest on amount withdrawnGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: HSBCMinimum deposit: $1,000Yield: 0.01%Penalty for early withdrawal: 30 days' simple interest on amount withdrawnGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Hudson City Savings BankMinimum deposit: $500Yield: 0.2%Penalty for early withdrawal: 3 months' interestGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Investors BankMinimum deposit: $500Yield: 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: Queens County Savings Bank (a part of New York Community Bank)Minimum deposit: $2,500Yield: 0.15%Penalty for early withdrawal: 1 month of interestGrace period on automatically renewable CDs: Not renewableEarly 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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