Early Withdrawals. You have contracted to keep your funds on deposit for the stated term. You may not withdraw all or part of a time deposit account except as provided in this Agreement. At our discretion, we may allow you to withdraw all or part of your funds at times other than the grace period. We withdraw interest before principal. Each time we permit you to make an early withdrawal of principal, we may charge you an early withdrawal penalty. If your account has not earned enough interest to cover an early withdrawal penalty, we deduct any interest first and take the remainder of the penalty from your principal. We calculate all early withdrawal penalties on the principal amount withdrawn at the interest rate in effect on the account on the withdrawal date. The early withdrawal penalty is: • For CDs with terms up to 12 months, the penalty is an amount equal to 30 days interest of the amount withdrawn • For CDs with terms longer than 12 months, the penalty is an amount equal to 90 days interest of the amount withdrawn Please note that the term of a CD is the specified period of time you agreed to leave your funds on deposit – not the time remaining until maturity of your CD. We add to the early withdrawal penalty the amount of any cash bonuses we paid you when you opened or reinvested the account. If we are required to pay an amount from your CD (e.g. levy or garnishment), we may charge you an early withdrawal penalty, calculated on the amount withdrawn from the CD. Closing or Redeeming a CD We may close or redeem an automatically renewable account at the end of the term. You may close or redeem your account during its grace period.
Early Withdrawals. Deposits may not be withdrawn prior to the original maturity date, or any renewal maturity date, except with our consent. When withdrawal of the entire account is permitted, we will pay accrued interest less any penalty. The penalty is calculated under the interest method indicated above and deducted from interest first and then principal if necessary. Both voluntary and involuntary withdrawals (such as for garnishments or setoff) are subject to early withdrawal penalties. Early withdrawals (except as in the case of the death or incompetence of any owner of this account, or the law permits, or in some cases requires, the waiver of the early withdrawal penalty) will be subject to a penalty equal to:
Early Withdrawals. 4.3.1 Any Withdrawals prior to the younger of the Participant and any Joint Participant reaching the withdrawal age as shown on the Data Pages, are Early Withdrawals. Early Withdrawals will reduce the Certificate Owner(s)’s Withdrawal Guarantee.
Early Withdrawals. Your CD has a maturity date. Any withdrawals before the maturity date require FSB’s consent. Unless otherwise noted in the Account Schedule, there is a penalty for withdrawing funds from your CD before the maturity date. Early withdrawal penalties are shown in the Service Fee Schedule. FSB, in its sole discretion, may waive an early withdrawal penalty as permitted by law. If FSB consents to an early withdrawal, FSB will withdraw interest before principal. If your account has not earned enough interest to cover the early withdrawal penalty, FSB will deduct any interest first and take the remainder of the penalty from your principal. If the withdrawal, including the penalty, will reduce the account below the required minimum balance, FSB may treat the request as a request to close the account and the penalty will be calculated based on the full account balance. For fixed rate and adjustable rate CDs, FSB will use the interest rate in effect to calculate the amount of the penalty. For variable rate CDs, FSB will use a weighted average of the interest rates paid on the account during the current CD term. FSB adds the amount of any cash bonuses paid to you when you opened or reinvested the account to the early withdrawal penalty.
Early Withdrawals. In our discretion, we may permit you to withdraw principal funds from the CD account at times other than the Grace Period. Each time we permit a withdrawal of principal funds outside of the Grace Period, we may apply an early withdrawal penalty, as shown in the Account and Service Fee Schedule. We generally withdraw interest before principal funds to pay the early withdrawal penalty. We may waive an early withdrawal penalty, as permitted by law. If a withdrawal, including the penalty, will reduce the account below the required minimum balance, we may treat the withdrawal request as a request to close the account.
Early Withdrawals. You agree to keep your funds on deposit for the stated term of the account. At our discretion, we may allow you to withdraw all or part of your funds at times other than your grace period. When we permit you to make an early withdrawal, we may charge you an early withdrawal penalty. See the Fee Schedule for Business Accounts for details. We may waive the penalty in limited circumstances. Interest compounded and credited during the term of a CD may be withdrawn without penalty prior to the maturity of the CD. If we are required to pay an amount from your time deposit (e.g., a levy or court order), we may charge you an early withdrawal penalty based on the amount withdrawn from the account.
Early Withdrawals a. You do not have a right to make early or partial withdrawals from, or additional deposits to, an existing TDA. If we permit an early withdrawal from a TDA, we may impose the following penalty: For deposits with a term of seven (7) to 31 calendar days, an amount equal to the greatest of:
Early Withdrawals. You may withdraw a CD before maturity, subject to a substantial early withdrawal penalty. A penalty applies to any early withdrawal, except that a penalty will not be charged for early withdrawal on the death of an individual who is the sole owner or a joint owner of the funds or the sole current mandatory or discretionary income beneficiary of a trust, including the sole current beneficiary of a unitrust or annuity trust. Written verification acceptable to the Destination Institution that issued the CD may be required to invoke the exception. For a CD with a term of 4 or 13 weeks, the early withdrawal penalty is equal to 28 or 90 days, respectively, of simple interest calculated at the Interest Rate. The penalty for early withdrawal of such a CD is equivalent to substantially all the interest that would have been earned over the full term and will invade principal. For a CD with a term of 26 weeks or longer, the early withdrawal penalty is equal to simple interest calculated at the Interest Rate for approximately one- half the number of days in the full term. The penalty for early withdrawal of such a CD is equivalent to approximately one-half of the interest that would have been earned over the full term and may invade principal. The schedule of early withdrawal penalties may be viewed at xxx.XXXXX.xxx/xxxxxxxx or a successor website address. Pursuant to the Internal Revenue Code of 1986, as amended, the beneficiary of an Individual Retirement Account (“IRA”) (but not a Xxxx XXX) may incur a tax penalty if the beneficiary does not begin making withdrawals from the IRA after age 72. A CD held in an IRA is not exempt from early withdrawal penalty merely because the beneficiary must withdraw the CD to avoid a tax penalty. Early withdrawal of a CD may be made only in whole, not in part. You may request early withdrawal by contacting us, at which time you may specify the one or more of the CDs for which you request early withdrawal. If you choose not to specify one or more of the CDs to withdraw, early withdrawals will be made using an automated process that generates random selections based on amount. Early withdrawal proceeds ordinarily will be available to you within two Business Days after we receive your early withdrawal request. Early withdrawal proceeds will not be available, however, until they are paid to us by the Destination Institution that issued the CD being withdrawn. Neither we nor any other person or entity will be obligated to advance funds ...
Early Withdrawals. Your certificate has a maturity date. Any withdrawals before the maturity date require Sun East’s consent. Unless otherwise noted in the Account Schedule, there is a penalty for withdrawing funds from your certificate before the maturity date. Penalties are listed in the table below: Term Early Withdrawal Policies Less than 6 months 45 days dividends 6 through 11 months 90 days dividends 12 through 60 months 180 days dividends Penalty pertains to the amount withdrawn and may result in a reduction of principal. Partial withdrawals are not permitted.
Early Withdrawals. Time deposit customers agree to keep funds on deposit for the agreed upon fixed period of time. Unless otherwise provided, partial withdrawals and additional deposits are not permitted. If we permit an early withdrawal of principal from a time deposit, we may impose an early withdrawal penalty. If we permit a Certificate of Deposit to be withdrawn before the maturity date, the following penalty will be imposed as applicable: • A Certificate of Deposit with a maturity of 31 days or less will forfeit all interest earned from the date of deposit. There is a minimum penalty of seven days’ simple interest at the rate being paid on the time deposit at the time of withdrawal on the full amount of the deposit. • A Certificate of Deposit with a maturity of 32 days up to and including one year will forfeit an amount equal to 31 days’ simple interest at the rate being paid on the time deposit at the time of withdrawal on the full amount of the deposit. • A Certificate of Deposit with an original maturity of more than one year will forfeit an amount equal to 90 days’ simple interest at the rate being paid on the time deposit at the time of the withdrawal on the full amount of the deposit. The disclosed Annual Percentage Yield (APY) assumes interest will remain on deposit until maturity. An early withdrawal will reduce earnings. In addition, an early withdrawal penalty may reduce a portion of the principal deposit to satisfy penalty requirements.
