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CD Early Withdrawal Survey: D.C. Metro

CD Rates » CD Penalty Chart » Washington, D.C.

Bankrate.com's 2014 CD Early Withdrawal Penalty Survey collected data in D.C. Metro 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.

Washington, D.C. 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: 0.01%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: Branch Banking and Trust Co. (BB&T)Minimum deposit: $1,000Yield: 0.03%Penalty for early withdrawal: Greater of 3 months' simple interest earned on amount withdrawn or $25Grace period on automatically renewable CDs: 10 daysEarly withdrawal penalties the same for retirement CDs? Yes
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: Colombo BankMinimum deposit: $1,000Yield: 0.1%Penalty for early withdrawal: 1 months' simple interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Yes
Institution: OBA 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? Not offered
Institution: Presidential BankMinimum deposit: $1,000Yield: 0.25%Penalty for early withdrawal: 3 months' interestGrace period on automatically renewable CDs: 7 daysEarly withdrawal penalties the same for retirement CDs? Not offered
Institution: SunTrust BankMinimum deposit: $2,000Yield: 0.03%Penalty for early withdrawal: Up to 6 months' interest, depending on time remainingGrace period on automatically renewable CDs: 10 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 $255Grace 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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