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CD Early Withdrawal Survey: Philadelphia

CD Rates » CD Penalty Chart » Philadelphia

Bankrate.com's 2014 CD Early Withdrawal Penalty Survey collected data in Philadelphia 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.

Philadelphia CD rates

3-month CD

InstitutionMinimum depositYieldPenalty for early withdrawalGrace period on automatically renewable CDsEarly withdrawal penalties the same for retirement CDs?
Institution: 3rd Fed BankMinimum deposit: $500Yield: 0.25%Penalty for early withdrawal: 3 months' 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: Beneficial BankMinimum deposit: $500Yield: 0.15%Penalty for early withdrawal: 90 days' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Not offered
Institution: Citizens Bank (of Pennsylvania)Minimum deposit: $1,000Yield: 0.03%Penalty for early withdrawal: $50, plus greater of 90 days' interest on withdrawn amount or half the remaining interest to be earned on remaining balanceGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Continental BankMinimum deposit: $1,000Yield: 0.1%Penalty for early withdrawal: 6 months' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Firstrust BankMinimum deposit: $1,000Yield: 0.1%Penalty for early withdrawal: 6 months' interest on amount withdrawnGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: PNC BankMinimum deposit: $1,000Yield: 0.05%Penalty for early withdrawal: 3 months' interestGrace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: Santander BankMinimum deposit: $500Yield: 0.01%Penalty for early withdrawal: $35, plus 3 months' interest on amount withdrawnGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: TD BankMinimum deposit: $250Yield: 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: 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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