Mild Early Withdrawal Penalties

deskandchairs | Sep 21, 2023 | 117 posts since 2015

In Ken's Sept 2023 commentary on the FED meeting, he suggests that one tactic for dealing with the uncertainty of the direction of long term rates is to seek CD's with "mild" EWPs, six months of less for longer term CDs'.

Any interest in using this forum to post any such CD/EWP you've found that meet this test?

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MineSweeper | Sep 26, 2023 | 68 posts since 2021

Check out ALL In Once Federal Credit Union. EWP is 90 days for all CD's regardless of the term. Rates are competitive as well.

https://allincu.com/rates/share-rates.html

JtAlmond | Sep 26, 2023 | 132 posts since 2020

Texas State Bank EWP is 3 months interest on all CDs.

Ally6770 | Sep 27, 2023 | 4,310 posts since 2010

I had a 5 year Roth at Achieva credit union in Florida and was able to close it
early with no penalty at all. I wanted to close it before it went over the insurance amount and split it. So was able to get a higher rate and split it before the 5 years were up this summer.

111 | Sep 27, 2023 | 672 posts since 2019

GTE CU has a 6-month EWP on its 3, 4 and 5-year CDs, and they've had that policy since at least as early as 2019. The bad news is that they dropped their rates on 4 and 5-year CDs at the end of August. If they raise them again they might be worth looking at.

FawnDoberman | Oct 9, 2023 | 15 posts since 2010

Depending on the term, Andrews, ColoradoFSB, Connexus and Spectra disclose "EWP 90 d."
I closed a CD at Bellco Colorado, EWP 90 d. without any problem.
Maple Mark Bank charged an EWP of 120 d.
Ag Fed, Langley, Latino and MSFCU all charged an EWP of 180 d.

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