Early Withdrawal Penalties definition

Early Withdrawal Penalties. If funds are withdrawn from your STC before the maturity date, an early withdrawal penalty may be charged. The penalty equals 90 days’ interest on the principal amount or the actual interest earned, whichever is less.
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Early Withdrawal Penalties. The penalty for early withdrawal on the Super Saver Certificate will be 90 days interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty. 12-MONTH YOUTH CERTIFICATE OF DEPOSIT: Compounding and Crediting: Interest on the 12-Month Youth Certificate of Deposit will be compounded and credited monthly. Interest earned can be received as follows:
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Early Withdrawal Penalties. The penalty for early withdrawal on the one-year certificate will equal 90 days of interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five-year certificate will be equal to one (1) year interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the credit union may deduct from the principal amount to cover the penalty.
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Examples of Early Withdrawal Penalties in a sentence

  • Exceptions to Early Withdrawal Penalties: At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: (i) When an account owner dies or is determined incompetent by a court or other body of competent jurisdiction.

  • Exceptions to Early Withdrawal Penalties: At our discretion, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: (i) When an account owner dies or is determined incompetent by a court or other body of competent jurisdiction; or (ii) When you withdraw funds to purchase products from SELCO Investment and Retirement Services or SELCO Services Group with seven days’ advance notice of the early withdrawal.

  • Early Withdrawal Penalties: For certificate terms less than 18 months, you will incur a 90-day dividend penalty on the principal amount withdrawn if completed prior to maturity.

  • Early Withdrawal Penalties - We may impose a substantial penalty if you withdraw any of the principal before the maturity date, or the renewal date, if this is a renewable account.

  • Early Withdrawal Penalties: The penalty for early withdrawal on the 24 month certificate will be equal to 180 days of interest on your deposit.

  • As part of the Radar System Simulator (RSS) project initiated at IRAS in 2015, multiple orbit determina- tion algorithms have been implemented and tested [8].

  • You may withdraw all of the principal from your CD before maturity, subject to the Early Withdrawal Penalties described below.

  • For b and c above, the CONTRIBUTOR shall submit the required supporting documents together with his termination instruction to the ADMINISTRATOR so as not to subject his termination to Early Withdrawal Penalties.

  • In addition to the list of charges found in this brochure, the following specific fees and charges may be assessed against your Certificate of Deposit: Early Withdrawal Penalties - If you withdraw any principal before the maturity date of the Certificate, you will be assessed a penalty of sixty (60) days of dividends.

  • Exceptions to Early Withdrawal Penalties - We may choose to pay the account before maturity with no early withdrawal penalty when:• An account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.• An IRA account owner dies, reaches 70 and a half, becomes disabled or elects to take prearranged periodic payments under an IRA account.


More Definitions of Early Withdrawal Penalties

Early Withdrawal Penalties. The penalty for early withdrawal on the Super Saver Certificate will be 90 days interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the credit union may deduct from the principal amount to cover the penalty. IRA CERTIFICATE OF DEPOSIT: The interest rates to be earned on certificates are predetermined and may change daily. The interest rates will be available each business day in our offices. Once you purchase a certificate, your interest rate will not be changed or recalculated during the term of the certificate. The Annual Percentage Yield (APY) assumes that interest earned will remain on deposit until maturity. Earnings will be reduced if you have interest deposited in another account. Interest rates are calculated within a range approved by the Board of Directors. The minimum rate is the interest rate on your Classic Saving account. Compounding and Crediting: Interest paid on 18-month, one, two, three, four, and five year IRA Certificates will be compounded and credited monthly. Balance Computation Method: Interest is calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Minimum Balance Requirements: The minimum balance required to open an 18-month, one, two, three, four, or five year IRA Certificate is $1,000.00. Accrual of Interest: Interest will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account. Account Restrictions: Additional deposits, prior to maturity, other than the interest posted, are not allowed. When eligible, you can withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term of crediting and after they are credited to your account. Refer to your IRA disclosure provided to you at the time of opening your IRA for IRS restrictions that may pertain to your IRA account. Early Withdrawal Penalties: The penalty for early withdrawal on the one year IRA certificate will be 90 days interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year IRA certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five year IRA certificate will be equal to one (1) year interest on your deposi...
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Early Withdrawal Penalties. When you open a Certificate Account, you agree to keep your funds on deposit until maturity. You may make withdrawals of principal on a Certificate Account at the discretion and approval of USALLIANCE Financial. With the exception of No Penalty CDs, the Credit Union will impose a penalty if a withdrawal of principal is made prior to the maturity date. A withdrawal prior to maturity will reduce earnings and therefore your APY will be lower than the disclosed yield. The Credit Union will close the account if a withdrawal of principal reduces the balance below the minimum required account balance. • If your Certificate Account has an original maturity date of less than 18 months the early withdrawal penalty will equal 180 days dividends on the amount withdrawn. • If your Certificate Account has an original maturity date of 18 months or longer, the penalty amount will equal 360 days of dividends on the amount withdrawn. If earned dividends are not sufficient to cover the penalty, the early withdrawal penalty may affect principal. Early withdrawal penalties will be waived only upon the death of the primary account holder or upon the voluntary or involuntary liquidation of the Credit Union.
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Early Withdrawal Penalties. If funds are withdrawn from your STC before the maturity date, an early withdrawal penalty may be charged. The penalty equals 90 days’ interest on the certificate amount or the actual interest earned, whichever is less. Renewal/Maturity: You may choose whether you would like your STC to renew or transfer to another account at maturity. If you choose renewal, the STC will automatically renew into a new STC for the same term (except for Laddered STCs) at the then-offered interest rate for that term unless you specifically request in writing that the balance be transferred into another LGFCU account at maturity. This request must be made prior to maturity. Generally, 14 days prior to maturity or renewal, LGFCU will send you a notice indicating whether the STC will mature or automatically renew. If the STC matures, the STC funds will be paid into the account at LGFCU you selected.
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Early Withdrawal Penalties. We may impose a penalty if you withdraw any funds prior to the term maturity date. See your certificate for full disclosure specific to your tem.
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Early Withdrawal Penalties. Certificates with terms up to 24 Months: Withdrawal of principal funds from Your certificate Account before maturity will result in the loss of 182 days of dividends on the amount withdrawn or, if the funds withdrawn have been in the Account for less than 182 days, the loss of all dividends on the amount withdrawn. Certificates with terms greater than 24 months: Withdrawal of principal funds from Your certificate Account before maturity will result in the loss of 365 days of dividends on the amount withdrawn or, if the funds withdrawn have been in the Account for less than 365 days, the loss of all dividends on the amount withdrawn. If the funds withdrawn bring the balance below the required minimum, the certificate must be redeemed and dividends will be forfeited, in accordance with the term of the certificate. Penalties shall not be applied if the withdrawal is made: (1) subsequent to the withdrawal of an Individual Retirement Account (IRA) required minimum distribution (RMD). There are no penalties for withdrawing dividends paid on the Account. Upon renewal only the dividends earned after the renewal date are available for withdrawal without penalty. Renewal Policies: Upon maturity, Your certificate Account will automatically renew for the term disclosed at the certificate opening unless instructed otherwise. A renewal notice will be provided by the Credit Union at least 10 days prior to maturity. You will have a grace period of at least 10 calendar days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty. If You withdraw the funds, no dividends will be paid for the grace period.
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Early Withdrawal Penalties. We may impose a penalty if you withdraw any of the funds in your account before maturity. If your account has an original maturity of less than 181 days, the amount of the penalty will equal thirty days’ dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 181 days to 23 months, then the amount of the penalty will equal ninety days’ dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 24 months to 59 months, then the amount of the penalty will equal 180 days’ dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 5 or more years, then the amount of the penalty will equal 365 days’ dividends on the amount withdrawn subject to penalty.
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Related to Early Withdrawal Penalties

  • Free Withdrawal Amount ’ means an amount equal to the percentage, stated in the Data Pages, of the Annuity Account Value, minus the total of all prior withdrawals (and associated Withdrawal Charges) made as described in Section 5.01 in the current Contract Year that may be withdrawn each Contract Year without incurring a Withdrawal Charge. We have the right to change the Free Withdrawal Amount, but it will always be a percentage between 5% and 30% if so provided in the Data Pages.

  • Withdrawal Period as defined in Section 10.13(b).

  • Cash Withdrawal means a disbursement of funds in any currency from any Account out of the balance in your favour (whether or not in the form of cash) made or obtained through or in connection with any Citibank ATM/ Debit Card.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • EU withdrawal agreement means the withdrawal agreement within the meaning of the European Union (Withdrawal Agreement) Act 2020 (see section 39(1) and (6) of that Act).”,

  • Final Withdrawal Date Has the meaning specified in the Escrow Agreement.

  • Voluntary Withdrawal means a Member’s dissociation with the Company by means other than by a Transfer or an Involuntary Withdrawal.

  • Involuntary Withdrawal means, with respect to any Member, the occurrence of any of the following events:

  • Single Withdrawal Tranche means the amount of the Loan allocated to the category entitled “Single Withdrawal Tranche” in the table set forth in Part B of Section II of Schedule 1 to this Agreement.

  • Market Participant Energy Withdrawal means transactions in the Day-ahead Energy Market and Real-time Energy Market, including but not limited to Demand Bids, Decrement Bids, real-time load (net of Behind The Meter Generation expected to be operating, but not to be less than zero), internal bilateral transactions and Export Transactions, as further described in the PJM Manuals. Market Seller Offer Cap:

  • Withdrawal Value means a Participant's Account Value minus the applicable Withdrawal Charge. (transfer from original GRA VII NBR/GRA VI NBR -- Series I) P-14020(SBR)(MBR)(NBR)conv.6

  • Withdrawal Event means the earliest to occur of any event which causes a Partner to cease to be a Partner, and to become a Former Partner, as set forth in Section 1.29.

  • Withdrawal Date Any day during the period commencing on the 18th day of the month of the related Distribution Date (or if such day is not a Business Day, the immediately preceding Business Day) and ending on the last Business Day prior to the 21st day of the month of such Distribution Date. The “related Due Date” for any Withdrawal Date is the Due Date immediately preceding the related Distribution Date.

  • Suspension/Withdrawal Event means, in respect of the Benchmark:

  • Benefit Distribution Date means the date upon which all or an objectively determinable portion of a Participant’s vested benefits will become eligible for distribution. Except as otherwise provided in the Plan, a Participant’s Benefit Distribution Date shall be determined based on the earliest to occur of an event or scheduled date set forth in Articles 4 through 9, as applicable.

  • Final Withdrawal Has the meaning specified in the Escrow Agreement.

  • Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.

  • Reserve Account Withdrawal Amount means, with respect to any Distribution Date, the lesser of (x) any shortfall in the amount of Available Funds available to pay the amounts specified in clauses (i) through (xvii) of Section 5.7(a) (taking into account application of Available Funds to the priority of payments specified in Section 5.7(a) and ignoring any provision hereof which otherwise limits the amounts described in such clauses to the amount of funds available) and (y) the amount on deposit in the Reserve Account on such Distribution Date prior to application of amounts on deposit therein pursuant to Section 5.8.

  • Excess Withdrawal is a withdrawal of Account Value that exceeds the Free Withdrawal Amount. This term may not apply to your Contract.

  • Supplemental Payment means any payments or transfers of things of value made to the District or to any person or persons in any form if such payment or transfer of thing of value being provided is in recognition of, anticipation of, or consideration for the Agreement and that is not authorized pursuant to Sections 313.027(f)(1) or (2) of the TEXAS TAX CODE, and specifically includes any payments required pursuant to Article VI of this Agreement.

  • Market Withdrawal means a Person’s Removal or Correction of a distributed product which involves a minor violation that would not be subject to legal action by the FDA or which involves no violation, e.g., normal stock rotation practices, routine equipment adjustments and repairs, etc.

  • Withdrawal Charge means a charge taken by AUL equal to a percentage of the Account Value withdrawn pursuant to "Withdrawal Benefits," where the percentage varies by the Participant Account Year in which the withdrawal is made. The first Participant Account Year begins on the date when AUL establishes a Participant Account and credits the initial Contribution for the Participant, and ends on the day immediately preceding the next anniversary of such date. Each Participant Account Year thereafter begins on such an anniversary date and ends on the day immediately preceding the next succeeding anniversary date. The Withdrawal Charge percentage is as follows: During Withdrawal Charge Participant Account Years Percentage However, for any Participant who also participates in the companion AUL Series III group annuity contract, the initial Withdrawal Charge percentage under the Contract shall be equal to the Withdrawal Charge percentage applicable to the Participant under the AUL Series I group annuity contract from which funds have been transferred to such Series III contract, determined by AUL immediately prior to the date of such transfer, rounded down to the next whole Withdrawal Charge percentage if the Withdrawal Charge percentage under such Series I contract is a fractional Withdrawal Charge percentage. However, the Withdrawal Charge percentage under this paragraph shall never be greater than 8%. The Withdrawal Charge percentage shall be decreased by 1% for each subsequent Participant Account Year until the Withdrawal Charge percentage equals 4%. (However, if the applicable Series I contract Withdrawal Charge percentage is less than 4%, it shall be rounded up to 4% in the Contract.) This 4% Withdrawal Charge percentage shall be in effect during the next 6 consecutive Participant Account Years. Thereafter, the Withdrawal Charge percentage shall be reduced to 0%. In no event will the cumulative total of all Withdrawal Charges, including those previously assessed against any amount withdrawn from a Participant Account, exceed 9% of total Contributions allocated to that Participant Account.

  • lump sum payment period means the period measured in weeks of salary, for which payment has been made to facilitate the transition to retirement or to other employment as a result of the implementation of various programs to reduce the size of the Public Service. The lump sum payment period does not include the period of severance pay, which is measured in a like manner.

  • Section 409A Payment Date means the earlier of (a) the date of Executive’s death or (b) the date that is six months after the date of termination of Executive’s employment with the Company.

  • Lump Sum Payment means, collectively, the lump-sum payments that may be payable to Executive pursuant to the first sentence of Subsection 6(b)(iii) and pursuant to Subsection 6(c)(ii)(B).

  • Premium payment plan means a benefit plan whereby state and