Bankrate.com’s 2015 CD Early Withdrawal Penalty Survey collected data from banks and credit unions for 5 of the most common CD maturities being sold today. This chart gives you an easy way to compare CD offerings by institution, metropolitan area and maturity using the survey data we collected in October of this year.
Credit Unions |
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|---|---|---|---|---|---|---|---|
| Term | Institution | Minimum deposit | Yield | Penalty for early withdrawal | Reduction in principal if accrued and unpaid interest is less than the penalty? | Grace period on automatically renewable CDs | Are early withdrawal penalties the same for retirement CDs? |
| 3-month | BECU | $500 | 0.1% | 30 days’ interest | Yes | 7 days | Not offered |
| 3-month | Navy Federal Credit Union | $1,000 | 0.45% | All interest earned | No | 14 days | Yes |
| 3-month | SchoolsFirst Federal Credit Union | $500 | 0.35% | 90 days’ interest on the amount withdrawn | Yes | 7 days | Yes |
| 6-month | BECU | $500 | 0.15% | 30 days’ interest | Yes | 7 days | Not offered |
| 6-month | Navy Federal Credit Union | $1,000 | 0.55% | Lesser of 90 days’ interest on amount withdrawn or all interest earned | No | 14 days | Yes |
| 6-month | Pentagon Federal Credit Union | $1,000 | 0.6% | Lesser of 90 days’ interest or all accrued interest | No | None | Yes |
| 6-month | SchoolsFirst Federal Credit Union | $500 | 0.65% | 90 days’ interest on the amount withdrawn | Yes | 7 days | Yes |
| 6-month | State Employees’ Credit Union (of North Carolina) | $250 | 1% | Lesser of 90 days’ interest on amount withdrawn or all interest earned | No | 7 days | Not offered |
| 1-year | BECU | $500 | 0.2% | 30 days’ interest | Yes | 7 days | Yes |
| 1-year | Navy Federal | $1,000 | 0.85% | Lesser of 90 days’ interest on amount withdrawn or all interest earned | No | 14 days | Yes |
| 1-year | Pentagon Federal Credit Union | $1,000 | 1.21% | If redeemed within first year, all dividends forfeited; if redeemed thereafter, 30% of what would have been earned at maturity, not to exceed total dividends earned | No | None | Yes |
| 1-year | SchoolsFirst Federal Credit Union | $500 | 0.8% | 90 days’ interest on the amount withdrawn | Yes | 7 days | Yes |
| 1-year | State Employees’ Credit Union (of North Carolina) | $250 | 1% | Lesser of 90 days’ interest on amount withdrawn or all interest earned | No | 7 days | Not offered |
| 2-year | BECU | $500 | 0.35% | 90 days’ interest | Yes | 7 days | Yes |
| 2-year | Navy Federal Credit Union | $1,000 | 1.25% | Lesser of 180 days’ interest on amount withdrawn or all interest earned | No | 14 days | Yes |
| 2-year | Pentagon Federal Credit Union | $1,000 | 1.41% | If redeemed within first year, all dividends forfeited; if redeemed thereafter, 30% of what would have been earned at maturity, not to exceed total dividends earned | No | None | Yes |
| 2-year | SchoolsFirst Federal Credit Union | $500 | 1.05% | 180 days’ interest on the amount withdrawn | Yes | 7 days | Yes |
| 2-year | State Employees’ Credit Union (of North Carolina) | $250 | 1.25% | Lesser of 90 days’ interest on amount withdrawn or all interest earned | No | 7 days | Not offered |
| 5-year | BECU | $500 | 0.9% | 90 days’ interest | Yes | 7 days | Yes |
| 5-year | Navy Federal Credit Union | $1,000 | 1.95% | Lesser of 180 days’ interest on amount withdrawn or all interest earned | No | 14 days | Yes |
| 5-year | Pentagon Federal Credit Union | $1,000 | 1.51% | If redeemed within first year, all dividends forfeited; if redeemed thereafter, 30% of what would have been earned at maturity, not to exceed total dividends earned | No | None | Yes |
| 5-year | SchoolsFirst Federal Credit Union | $500 | 2.05% | 180 days’ interest on the amount withdrawn | Yes | 7 days | Yes |
| 5-year | State Employees’ Credit Union (of North Carolina) | $250 | 1.75% | Lesser of 90 days’ interest on amount withdrawn or all interest earned | No | 7 days | Not offered |
Bankrate.com's CD Early Withdrawal Penalty Survey studied 100 banks and thrifts from the top 10 metropolitan markets Oct. 1-13, 2015. Included were the top 5 banks and the top 5 thrifts by deposit size in each market. The top 5 credit unions from across the country by assets also were surveyed. In some instances, the institution did not offer all maturity periods.
