If you are shopping for a longer term certificates of deposit the penalties for early withdrawal have to be considered.  Evaluating early withdrawal penalties when comparing CD rates is not just a concern for immediate cash needs.  Suppose you purchased a five year bank CD three years ago when interest rates were very low; is it worthwhile to take the early withdrawal penalty hit and use the proceeds to buy a new bank CD at today’s much better interest rates?  Assessing the costs and benefits may take a little and effort on your part, but it’s definitely worth the time if the results are a higher rate of return.

Tags: , , , ,

No user commented in " Evaluate Bank CD Early Withdrawal Penalties on Longer Term CDs "

Follow-up comment rss or Leave a Trackback

Leave A Reply

 Username (*required)

 Email Address (*private)

 Website (*optional)