Common use of Early Withdrawal Penalty Clause in Contracts

Early Withdrawal Penalty. If you withdraw any principal from a Certificate before the maturity date, you will be assessed a penalty. The penalty will be equal to three months’ dividends on the amount withdrawn if the original term of the Certificate is one year or less, otherwise it will be equal to six months’ dividends. If the penalty exceeds the interest due at the time of such early withdrawal, the difference shall be deducted from the principal amount. No early withdrawal penalty will be assessed if the principal is withdrawn due to the death of any party to the Certificate.

Early Withdrawal Penalty. If you withdraw any principal from a Certificate before the maturity date, you will be assessed a penalty. The penalty will be equal to three months90 days’ dividends interest on the amount withdrawn if the original term of the Certificate is one year or less, otherwise it will be equal to six months’ dividendsentire principal amount. If the penalty exceeds the interest due at the time of such early withdrawal, the difference shall be deducted from the principal amount. No early withdrawal penalty will be assessed if the principal is withdrawn due to the death of any party to the Certificate.

Early Withdrawal Penalty. If you withdraw any principal from a Certificate before the maturity date, you will be assessed a penalty. The amount of the penalty will be equal to three months’ dividends is dependent on the amount withdrawn if length of the original term of the Certificate is one year or less, otherwise it will be equal to six months’ dividendsCertificate. If the penalty exceeds the interest due at the time of such early withdrawal, the difference shall be deducted from the principal amount. No early withdrawal penalty will be assessed if the principal is withdrawn due to the death of any joint party to the Certificate. Please see the Rate page and Fee Schedule for a list of fees and early withdrawal penalties applicable to Certificates).

Early Withdrawal Penalty. If you withdraw any principal from a Certificate before the maturity date, you will be assessed a penalty. The penalty will be equal to three months90 days’ dividends interest on the principal amount withdrawn if the original term of the Certificate is one year or less, otherwise it will be equal to six months’ dividendswithdrawn. If the penalty exceeds the interest due at the time of such early withdrawal, the difference shall be deducted from the principal amount. No early withdrawal penalty will be assessed if the principal is withdrawn due to the death of any party to the Certificate.