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
Institution Minimum deposit Yield

(%)

Penalty for early withdrawal Grace period on automatically renewable CDs Early withdrawal penalties same for retirement CDs?
Bank of America $1,000 0.1 90 days interest 7 days Yes — 90 days interest
Chase Bank $1,000 0.2 $25 + 1% of withdrawal amount 10 days Yes — $25 + 1% of withdrawal amount
Harris NA $1,000 0.05 90 days interest 10 days Yes — 90 days interest
National City Bank $2,500 0.15 6 months interest 7 days Yes — 6 months interest
The Northern Trust Co $10,000 0.15 90 days interest 10 days Yes — 90 days interest
BankFinancial $1,000 0.3 3 months interest 7 days Yes — 3 months interest
Citizens Financial Bank $2,000 0.11 3 months simple interest 7 days Yes — 3 months simple interest
First Savings Bank of Hegewisch N/A
George Washington Savings Bank $5,000 0.15 90 days interest 10 days Yes — 90 days interest
Liberty Bank for Savings $2,500 0.4 1 month interest 7 days N/A

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