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What are the penalties for early withdrawal of a certificate?

April 26, 2017Certificate early penalties withdrawal

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What are the penalties for early withdrawal of a certificate?

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A. The penalty is $125 or 180 days of dividends* (whichever is greater) for accounts with terms of 12 months or greater opened/renewed after July 2007, otherwise penalty is $75 or 90 days of dividends* (whichever is greater). * Based on the respective certificate rate on the principal amount withdrawn. Q.