What is the penalty to close my CD early?

Closing a CD before maturity may reduce your interest or principal. Penalties vary by term:

1. CDs up to 12 months: Penalty equals interest for the full term.
2. CDs 12–24 months: Penalty equals one year of interest.
3. CDs 24 months or more: Penalty equals two years of interest.

If accrued interest exceeds the penalty, the excess will be paid to you. If accrued interest is less than the penalty, your principal may be reduced.