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#2071049 - 03/25/16 07:52 PM CD Interest Penalty
MiMi Offline
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MiMi
Joined: Mar 2002
Posts: 365
What is the maximum early withdrawal interest penalty that can be charged on CD's and IRA's? One year CD as well as over one year cd? Thank you
Last edited by MiMi; 03/25/16 07:54 PM.
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Deposits and Payments
#2071061 - 03/25/16 08:05 PM Re: CD Interest Penalty MiMi
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
There is no maximum under federal law.

Penalties on time deposits cannot be changed during the term of the instrument, only at maturity.
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#2071063 - 03/25/16 08:14 PM Re: CD Interest Penalty Elwood P. Dowd
MiMi Offline
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MiMi
Joined: Mar 2002
Posts: 365
Is there a maximum under state law (KY)

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#2071082 - 03/25/16 09:16 PM Re: CD Interest Penalty MiMi
Elwood P. Dowd Offline
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Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
No; Kentucky has no laws on the subject.
_________________________
In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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