Yes, there is a penalty for early withdrawals from your Certificate. The penalty is a forfeiture of part of the interest earned or that would have been earned, and it may be deducted from your principal amount. The interest rate you receive assumes you will keep the funds in the account until maturity, so withdrawing early will reduce your earnings.
However, there may be some exceptions where penalties may not apply, such as if the account owner dies, or is legally declared incompetent.
Please stop into a branch or contact us for more information on Certificate Withdrawl Penalties.
