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What are the penalties associated with redeeming my certificates before maturity?

April 26, 2017associated certificates maturity penalties redeeming

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What are the penalties associated with redeeming my certificates before maturity?

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Upon early liquidation of a term certificate, a penalty is assessed equal to three months of interest earned on the redeemed fixed rate certificate. The holder of a 30 day demand certificate may redeem the certificate at any time upon 30 days advance written notice to the Fund without penalty.