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
|Bank of America||$1,000||0.1||90 days interest||7 days||Yes -- 90 days interest|
|Charter One Bank||$1,000||0.25||3 months interest||10 days||N/A|
|Comerica Bank||$1,000||0.15||3 months interest||10 days||Yes -- $25 + 1% of withdrawal amount|
|National City Bank||$2,500||0.15||3 months interest||7 days||Yes -- 3 months interest|
|Citizens First Savings Bank||$1,000||0.66||All interest earned||10 days||Yes -- All interest earned|
|Dearborn Federal Savings Bank||$500||0.4||1 month interest||7 days||N/A|
|First Place Bank||N/A|
|Flagstar Bank||$500||0.35||30 days interest||10 days||Yes -- 30 days interest|
|Northern Trust Bank||$10,000||0.15||90 days interest||10 days||Yes -- 90 days interest|
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