IRA CD Early Withdrawal Penalty

bbug | Jul 2, 2010 | 7 posts since 2010

I've been told by banks on numerous occasions that, since I'm over 59 1/2, there is no early withdrawal penalty for partial or full withdrawals, but I'm leery.

Can anyone confirm or refute this?

Bill

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Answers

bbug | Jul 3, 2010 | 7 posts since 2010

I was told once or twice it was in accordance with the law (I assume Federal), but I guess not. That's what I was hoping for.

But when my next maturity comes, I'll be sure to check for institutions with no penalties in my circumstances and in writing. It might result in a tolerable rate.

Thanks for the reply.

Bill

rsven | May 17, 2011 | 1 posts since 2011

I have just checked into this and CITIBANK does not charge early withdrawal penalty for IRA customers over 59 1/2.

lou | May 17, 2011 | 1,004 posts since 2010

Yeah, but what rate will Citibank offer you.

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