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Is there a penalty for withdrawing funds from a Business Time Deposit Account prior to the maturity date?

April 26, 2017account Business deposit funds maturity date penalty prior time WITHDRAWING

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Is there a penalty for withdrawing funds from a Business Time Deposit Account prior to the maturity date?

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Yes. When you invest in a Business Time Deposit Account, you agree to keep the principal on deposit with us for the term you have selected. If you withdraw all or a portion of the principal prior to the maturity date of the deposit, the bank may assess an Early Withdrawal or Compensating Fee, whichever is greater.