Early Withdrawal Penalties

JackyRocks | Jul 27, 2023 | 1 posts since 2023

Just wondering if there is a overall general list somewhere that has which banks have the best EWP for cd's or if anyone wants to chime in which banks they use for a cd and know the penalty. Thank you! First question by the way and I'm happy to be here!

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Answers

SouthernGirl | Jul 28, 2023 | 210 posts since 2022

Hello and welcome! All in Credit Union, Daleville AL. EWP is 90 days for all CD terms. GTE Financial, Tampa FL. EWP is 180 days for CD's between 18 and 60 months.

Janicefr48 | Jul 28, 2023 | 40 posts since 2022

Jacky, I actually created a spreadsheet with EWP's for about 60 of the financial institutions that I have seen reviewed on this site. If you would like to send me your email, I will be glad to send you a copy. I tried to send it in a private message to you through this page but couldn't find away to upload it. In addition to All In and GTE that Southern Girl mentioned, some of the lowest are DOCFCU (180 days on 12 to 120mo and they also have some of the highest interest rates on all of their CD's right now), Ally, and Elements Financial. I love working with Elements but their CD rates are not the highest. They have a 5% reward checking guaranteed for 12mo on up to $20k and it doesn't require a auto deposit. I also like working with MACU. They have some of the best add on CD rates but their EWP are higher.

Gena19 | Jul 28, 2023 | 2 posts since 2019

Hi Janice,
Can you please send me a spreadsheet for EWP's.
Thank you!
Jenny

Janicefr48 | Jul 31, 2023 | 40 posts since 2022

Gena, I haven't found a way to upload it on this website. If you want to send me an email address, text number, FB messenger address etc by personal message on here I will be glad to send it to you.

Janicefr48 | Jul 31, 2023 | 40 posts since 2022

Jenny, I think I figured out how to attach the spreadsheet after I posted earlier. Check your private messages for it.

choice1 | Jul 27, 2023 | 370 posts since 2023

Novel Q. It was suggested before that posting CD rates in this day and age to show THE EFFECTIVE RATE of return at various price/term points and factoring in the EWP would be most helpful. Treasury Direct does it. DA, hello!

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