I have a joint ten year CDaccount with my wife. If one of us expires before the maturity date, can the other account holder withdraw the principle and interest without penalty?
Review the deposit contract, which may include language that answers your question. Federal regulations on early withdrawal penalties are essentially meaningless in such situations (the worst case mandatory penalty applies only for six days from a deposit or withdrawal date). If the deposit contract doesn't answer your question, you'll need to obtain the answer from the bank's customer service personnel.
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