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
5. Philadelphia
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| 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 |
| PNC Bank | $1,000 | 0.15 | 3 months interest | 10 days | Yes -- 3 months interest |
| TD Bank | $250 | 0.25 | 3 months interest | 10 days | No -- penalty depends on how far into the term you are when you withdraw funds |
| Wachovia | $1,000 | 0.01 | 90 days interest | 7 days | Yes -- 90 days interest |
| Beneficial Mutual Savings Bank | $500 | 0.25 | 90 days interest | 7 days | N/A |
| Citizens Bank of Pennsylvania | $1,000 | 0.25 | 3 months interest | 10 days | N/A |
| Firstrust Savings Bank | $1,000 | 0.5 | 30 days interest | 7 days | Yes -- 30 days interest |
| Sovereign Bank | $500 | 0.01 | 3 months interest | 7 days | Yes -- 3 months interest |
| Wilmington Savings Fund Society | N/A | | | | |
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