How to Minimize CD Early Withdrawal Penalties

How to Minimize CD Early Withdrawal Penalties

Ten years ago, opening a certificate of deposit required $5,000 and an hour at the bank. Today, you only need $1 and five minutes. Take advantage of that to help minimize early withdrawal penalties on CDs.

CD Rates May Not Be Honored in Bank Failure

CD Rates May Not Be Honored in Bank Failure

If you wanted to close your certificate of deposit early, you’d pay a penalty. Unless your CD were callable, your bank can’t close it early with one exception. Fortunately, it’s an exception all banks loathe.