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CD early withdrawal: Chicago

Bankrate.com's CD early withdrawal penalty study looked at five of the most common maturities and liquid CDs. This chart gives you an easy way to compare CD offerings by institution, metropolitan area and maturity as of the date of the survey.

In addition, the chart states the minimum deposit required to open an account, the yield to maturity, the institution's stated penalty for early withdrawal, the reduction in principal if the unpaid interest is less than the penalty, the grace period on automatically renewable CDs and whether the early withdrawal penalties are the same for retirement CDs.

CD early withdrawal penalty comparison
3. Chicago
InstitutionMinimum depositYield
(%)
Penalty for early withdrawalGrace period on automatically renewable CDsEarly withdrawal penalties same for retirement CDs?
Bank of America$1,0000.190 days interest7 daysYes -- 90 days interest
Chase Bank$1,0000.2$25 + 1% of withdrawal amount10 daysYes -- $25 + 1% of withdrawal amount
Harris NA$1,0000.0590 days interest10 daysYes -- 90 days interest
National City Bank$2,5000.156 months interest7 daysYes -- 6 months interest
The Northern Trust Co$10,0000.1590 days interest10 daysYes -- 90 days interest
BankFinancial$1,0000.33 months interest7 daysYes -- 3 months interest
Citizens Financial Bank$2,0000.113 months simple interest7 daysYes -- 3 months simple interest
First Savings Bank of HegewischN/A
George Washington Savings Bank$5,0000.1590 days interest10 daysYes -- 90 days interest
Liberty Bank for Savings$2,5000.41 month interest7 daysN/A
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Product Rate Change Last week
1 Year CD 0.90%  0.02 0.88%
2 Year CD 1.02%  0.01 1.03%
5 Year CD 1.59%  0.01 1.60%
 
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