Q: What are the penalties for early withdrawal from a certificate?

The penalty varies based on term length and amount withdrawn:

• Terms of 12 months or less are assessed a 90-day dividends penalty.
• Terms greater than 12 months and less than 48 months are assessed a 180-day dividends penalty.
• Terms of 48 months or greater are assessed a 365-day dividends penalty.

The penalty is only applied to the amount being withdrawn from the certificate.

Learn more about certificates.