2010 CD Study
Stacks of golden coins against golden dollar
CD early withdrawal: Washington, D.C.

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
10. DC Metro
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
BB&T$1,0000.051 month interest10 daysYes -- 1 month interest
Capital One$1,0000.351 month interest10 daysYes -- 1 month interest
SunTrust Bank$2,0000.23 months interest10 daysN/A
Wachovia$1,0000.0190 days interest7 daysYes -- 90 days interest
Acacia Federal Savings Bank$5000.953 months interest7 daysN/A
E-Trade Bank$1,0000.011 ½ months interest7 daysN/A
OBA Federal Savings Bank$1,0000.43 months interest7 daysN/A
Presidential Bank$1,0000.753 months interest7 daysN/A
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