2010 CD Study
Stacks of golden coins against golden dollar
CD early withdrawal: San Francisco

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
4. San Francisco
InstitutionMinimum depositYield
Penalty for early withdrawalGrace period on automatically renewable CDsEarly withdrawal penalties same for retirement CDs?
Bank of America$1,0000.3590 days interest7 daysYes -- 90 days interest
Chase Bank$1,0000.2$25 + 1% of withdrawal amount10 daysYes -- $25 + 1% of withdrawal amount
Citibank$5000.2530 days interest10 daysNo -- 1-month simple interest
Union Bank$3500.2591 days simple interest10 daysNo -- Penalty depends on how far into the term you are when you withdraw funds
Wells Fargo Bank$2,5000.1$25 min/3 months interest7 daysYes -- $25 min/3 months interest
First Federal S&LA$1,0000.351 month interest7 daysYes -- 1-month interest
Franklin Templeton Bank and Trust$1,0000.05All interest earned10 daysN/A
Gateway Bank$1,0000.7530 days interest7 daysN/A
Luther Burbank Savings$1,0001.190 days interest7 daysYes -- 90 days interest
Sterling Bank and Trust$50011 month interest7 daysYes -- 1-month interest
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