Bankrate.com’s 2015 CD Early Withdrawal Penalty Survey collected data in New York 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 New York CD rates

New York

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3-month Apple Bank for Savings $1,000 0.05% $50, plus 1% of amount withdrawn Yes 5 days Yes
3-month Astoria Bank $500 0.05% 90 days’ interest Yes 7 days Yes
3-month Bank of America $1,000 0.03% 90 days’ interest on the amount withdrawn Yes 7 days Not offered
3-month Chase Bank $1,000 0.01% 1% of amount withdrawn but not more than total interest earned during current term of CD No 10 days Yes
3-month Citibank $500 0.05% 90 days’ interest on amount withdrawn Yes 7 days Yes
3-month HSBC $1,000 0.01% 30 days’ simple interest on the amount withdrawn Yes 10 days Yes
3-month Hudson City Savings Bank $500 0.2% 3 months’ interest Yes 10 days Yes
3-month Investors Bank $500 0.2% 90 days’ interest Yes 7 days Not offered
3-month Queens County Savings Bank (a part of New York Community Bank) $2,500 0.15% 1 month of interest Yes Not renewable Yes
3-month Wells Fargo Bank $2,500 0.01% 3 months’ interest, minimum $25 Yes 7 days Yes
6-month Apple Bank for Savings $1,000 0.05% $50, plus 1% of amount withdrawn Yes 5 days Yes
6-month Astoria Bank $500 0.05% 90 days’ interest 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6-month Bank of America $1,000 0.03% 90 days’ interest on the amount withdrawn Yes 7 days Yes
6-month Chase Bank $1,000 0.01% 1% of amount withdrawn but not more than total interest earned during current term of CD No 10 days Yes
6-month Citibank $500 0.07% 90 days’ interest on amount withdrawn Yes 7 days Yes
6-month HSBC $1,000 0.01% 30 days’ simple interest Yes 10 days Yes
6-month Hudson City Savings Bank $500 0.3% 3 months’ interest Yes 10 days Yes
6-month Investors Bank $500 0.2% 90 days’ interest Yes 7 days Yes
6-month Queens County Savings Bank (a part of New York Community Bank) $2,500 0.1% 3 months’ interest Yes Not renewable Yes
6-month Wells Fargo Bank $2,500 0.01% 3 months’ interest, minimum $25 Yes 7 days Yes
1-year Apple Bank for Savings $1,000 0.75% $50, plus 3% of amount withdrawn Yes 5 days Yes
1-year Astoria Bank $500 0.1% 90 days’ interest 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 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 Citibank $500 0.15% 180 days’ interest on amount withdrawn Yes 7 days Yes
1-year HSBC $1,000 0.01% 30 days’ simple interest Yes 10 days Yes
1-year Hudson City Savings Bank $500 0.5% 6 months’ interest Yes 10 days Yes
1-year Investors Bank $500 0.25% 180 days’ interest Yes 7 days Yes
1-year Queens County Savings Bank (a part of New York Community Bank) $500 0.4% 3 months’ interest Yes Not renewable Yes
1-year Wells Fargo Bank $2,500 0.05% 3 months’ interest, minimum $25 Yes 7 days Yes
2-year Apple Bank for Savings $1,000 1.1% $50, plus 3% of amount withdrawn Yes 5 days Yes
2-year Astoria Bank $500 0.45% 180 days’ interest 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 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 Citibank, NA $500 0.25% 180 days’ interest on the amount withdrawn Yes 7 days Yes
2-year HSBC $1,000 0.1% 180 days’ simple interest Yes 10 days Yes
2-year Hudson City Savings Bank $500 1.15% 6 months’ interest Yes 10 days Yes
2-year Investors Bank $500 0.45% 12 months’ interest Yes 7 days Yes
2-year Queens County Savings Bank (a part of New York Community Bank) $500 0.75% 6 months’ interest Yes Not renewable Yes
2-year Wells Fargo Bank $2,500 0.15% 6 months’ interest, minimum $25 Yes 7 days Yes
5-year Apple Bank for Savings $1,000 1.25% $50, plus 3% of amount withdrawn Yes 5 days Yes
5-year Astoria Bank $500 1.25% 360 days’ interest 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 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 Citibank, NA $500 0.5% 180 days’ interest on the amount withdrawn Yes 7 days Yes
5-year HSBC $1,000 0.15% 180 days’ simple interest Yes 10 days Yes
5-year Hudson City Savings Bank $500 2% 6 months’ interest Yes 10 days Yes
5-year Investors Bank $500 1% 12 months’ interest Yes 7 days Yes
5-year Queens County Savings Bank (a part of New York Community Bank) $500 1.25% 12 months’ interest Yes Not renewable 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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