Over 24 months, the penalty is 12 months' interest.ĬD rates are subject to change at any time and are not guaranteed until the CD is opened.Įarly withdrawal(s) may be subject to either the Regulation D Penalty or the early withdrawal penalty.Over 12 months through 24 months, the penalty is 6 months' interest, or.A CD’s interest rate is determined by the bank but is affected by the Federal Reserve’s Federal Funds Rate. The resulting average must be above 4 APY. 90 through 365 days (or 3-12 months), the penalty is 3 months' interest For our best overall highest CD rates list, we calculate the average of each bank’s 1-, 3- and 5-year terms when comparing APYs.Less than 90 days (or less than 3 months), the penalty is 1 month's interest.Other than the Regulation D penalty described above, any money withdrawn from the CD before the end of its term will be subject to an early withdrawal penalty based on the length of the CD term. Withdrawals within seven days of any prior withdrawal where the Bank's early withdrawal penalty is not applied.Withdrawals made during the grace period, when additional deposits are made during the grace period and the withdrawal exceeds the amount of the matured CD balance.Withdrawals made within seven days of account opening including the day the account was opened.The Regulation D Penalty is seven days' simple interest on the amount withdrawn and applies to: Penalties could reduce earnings on this account. You may pay an early withdrawal penalty or a Regulation D penalty if you withdraw funds from your account before the term is complete.