I have an $8000 CD, with a three month maturity, that I purchased about a month ago. I have an emergency and I need to redeem it. Will they let me? Do I have to wait weeks on the monies or can you usually get the monies the same day?
There are three possible answers. First, the bank could refuse to allow an early withdrawal at all. Second, the bank could permit the early withdrawal, but impose an early withdrawal penalty (the amount of the penalty should be included in your copy of the deposit contract). Third, the bank could permit the early withdrawal and reduce or waive its penalty. The only way to find out what the bank will do is to ask.
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There are three possible answers. First, the bank could refuse to allow an early 