CD
Date: Tue, 04/27/2010 - 14:37
I would like to know if there is a big penality for taking cd out before it matures
Yes, there would be a penalty for withdrawing the CD before matu
Yes, there would be a penalty for withdrawing the CD before maturity. The amount of the penalty is dependent on the amount of the CD and the Time period for the CD. It might be measured in months of interest, may be calculated to be equal to the institution's current cost of replacing the money, or may use another formula. May or may not reduce the principal???for example, if principal is withdrawn three months after opening a CD with a six-month penalty.
