Early Withdrawal Penalties definition

Early Withdrawal Penalties. If funds are withdrawn from your STC before the maturity date, an early withdrawal penalty may be charged. The penalty equals 90 days’ interest on the principal amount or the actual interest earned, whichever is less.

Early Withdrawal Penalties. The penalty for early withdrawal on the Super Saver Certificate will be 90 days interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the Credit Union may deduct from the principal amount to cover the penalty. 12-MONTH YOUTH CERTIFICATE OF DEPOSIT: Compounding and Crediting: Interest on the 12-Month Youth Certificate of Deposit will be compounded and credited monthly. Interest earned can be received as follows:

Early Withdrawal Penalties. The penalty for early withdrawal on the one-year certificate will equal 90 days of interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five-year certificate will be equal to one (1) year interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the credit union may deduct from the principal amount to cover the penalty.

Examples of Early Withdrawal Penalties in a sentence

• Exceptions to Early Withdrawal Penalties: At our option, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: (i) When an account owner dies or is determined incompetent by a court or other body of competent jurisdiction.

• Exceptions to Early Withdrawal Penalties: At our discretion, we may pay the account before maturity without imposing an early withdrawal penalty under the following circumstances: (i) When an account owner dies or is determined incompetent by a court or other body of competent jurisdiction; or (ii) When you withdraw funds to purchase products from SELCO Investment and Retirement Services or SELCO Services Group with seven days’ advance notice of the early withdrawal.

• Early Withdrawal Penalties: For certificate terms less than 18 months, you will incur a 90-day dividend penalty on the principal amount withdrawn if completed prior to maturity.

• Early Withdrawal Penalties - We may impose a substantial penalty if you withdraw any of the principal before the maturity date, or the renewal date, if this is a renewable account.

• Early Withdrawal Penalties: The penalty for early withdrawal on the 24 month certificate will be equal to 180 days of interest on your deposit.

• As part of the Radar System Simulator (RSS) project initiated at IRAS in 2015, multiple orbit determina- tion algorithms have been implemented and tested [8].

• You may withdraw all of the principal from your CD before maturity, subject to the Early Withdrawal Penalties described below.

• For b and c above, the CONTRIBUTOR shall submit the required supporting documents together with his termination instruction to the ADMINISTRATOR so as not to subject his termination to Early Withdrawal Penalties.

• In addition to the list of charges found in this brochure, the following specific fees and charges may be assessed against your Certificate of Deposit: Early Withdrawal Penalties - If you withdraw any principal before the maturity date of the Certificate, you will be assessed a penalty of sixty (60) days of dividends.

• Exceptions to Early Withdrawal Penalties - We may choose to pay the account before maturity with no early withdrawal penalty when:• An account owner dies or is determined legally incompetent by a court or other body of competent jurisdiction.• An IRA account owner dies, reaches 70 and a half, becomes disabled or elects to take prearranged periodic payments under an IRA account.

More Definitions of Early Withdrawal Penalties

Early Withdrawal Penalties. The penalty for early withdrawal on the Super Saver Certificate will be 90 days interest on your deposit. If the early withdrawal reduces the principal below the minimum balance required to open this account, the certificate will be canceled. If the interest available at the time of early withdrawal is not sufficient to cover the applicable penalty, the credit union may deduct from the principal amount to cover the penalty. IRA CERTIFICATE OF DEPOSIT: The interest rates to be earned on certificates are predetermined and may change daily. The interest rates will be available each business day in our offices. Once you purchase a certificate, your interest rate will not be changed or recalculated during the term of the certificate. The Annual Percentage Yield (APY) assumes that interest earned will remain on deposit until maturity. Earnings will be reduced if you have interest deposited in another account. Interest rates are calculated within a range approved by the Board of Directors. The minimum rate is the interest rate on your Classic Saving account. Compounding and Crediting: Interest paid on 18-month, one, two, three, four, and five year IRA Certificates will be compounded and credited monthly. Balance Computation Method: Interest is calculated by the daily balance method, which applies a daily periodic rate to the balance in the account each day. Minimum Balance Requirements: The minimum balance required to open an 18-month, one, two, three, four, or five year IRA Certificate is $1,000.00. Accrual of Interest: Interest will begin to accrue on the business day you deposit non-cash items (e.g., checks) to your account. Account Restrictions: Additional deposits, prior to maturity, other than the interest posted, are not allowed. When eligible, you can withdraw interest credited in the term before maturity of that term without penalty. You can withdraw interest anytime during the term of crediting and after they are credited to your account. Refer to your IRA disclosure provided to you at the time of opening your IRA for IRS restrictions that may pertain to your IRA account. Early Withdrawal Penalties: The penalty for early withdrawal on the one year IRA certificate will be 90 days interest on your deposit. The penalty for early withdrawal on the 18-month, two, three and four year IRA certificate will be 180 days interest on your deposit. The penalty for early withdrawal on the five year IRA certificate will be equal to one (1) year interest on your deposi...

Early Withdrawal Penalties. When you open a Certificate Account, you agree to keep your funds on deposit until maturity. You may make withdrawals of principal on a Certificate Account at the discretion and approval of USALLIANCE Financial. With the exception of No Penalty CDs, the Credit Union will impose a penalty if a withdrawal of principal is made prior to the maturity date. A withdrawal prior to maturity will reduce earnings and therefore your APY will be lower than the disclosed yield. The Credit Union will close the account if a withdrawal of principal reduces the balance below the minimum required account balance. • If your Certificate Account has an original maturity date of less than 18 months the early withdrawal penalty will equal 180 days dividends on the amount withdrawn. • If your Certificate Account has an original maturity date of 18 months or longer, the penalty amount will equal 360 days of dividends on the amount withdrawn. If earned dividends are not sufficient to cover the penalty, the early withdrawal penalty may affect principal. Early withdrawal penalties will be waived only upon the death of the primary account holder or upon the voluntary or involuntary liquidation of the Credit Union.

Early Withdrawal Penalties. If funds are withdrawn from your STC before the maturity date, an early withdrawal penalty may be charged. The penalty equals 90 days’ interest on the certificate amount or the actual interest earned, whichever is less. Renewal/Maturity: You may choose whether you would like your STC to renew or transfer to another account at maturity. If you choose renewal, the STC will automatically renew into a new STC for the same term (except for Laddered STCs) at the then-offered interest rate for that term unless you specifically request in writing that the balance be transferred into another LGFCU account at maturity. This request must be made prior to maturity. Generally, 14 days prior to maturity or renewal, LGFCU will send you a notice indicating whether the STC will mature or automatically renew. If the STC matures, the STC funds will be paid into the account at LGFCU you selected.

Early Withdrawal Penalties. We may impose a penalty if you withdraw any funds prior to the term maturity date. See your certificate for full disclosure specific to your tem.

Early Withdrawal Penalties. Certificates with terms up to 24 Months: Withdrawal of principal funds from Your certificate Account before maturity will result in the loss of 182 days of dividends on the amount withdrawn or, if the funds withdrawn have been in the Account for less than 182 days, the loss of all dividends on the amount withdrawn. Certificates with terms greater than 24 months: Withdrawal of principal funds from Your certificate Account before maturity will result in the loss of 365 days of dividends on the amount withdrawn or, if the funds withdrawn have been in the Account for less than 365 days, the loss of all dividends on the amount withdrawn. If the funds withdrawn bring the balance below the required minimum, the certificate must be redeemed and dividends will be forfeited, in accordance with the term of the certificate. Penalties shall not be applied if the withdrawal is made: (1) subsequent to the death of any certificate account owner; or (2) subsequent to the withdrawal of an Individual Retirement Account (IRA) required minimum distribution (RMD). There are no penalties for withdrawing dividends paid on the Account. Upon renewal only the dividends earned after the renewal date are available for withdrawal without penalty. Renewal Policies: Upon maturity, Your certificate Account will automatically renew for the term disclosed at the certificate opening unless instructed otherwise. A renewal notice will be provided by the Credit Union at least 10 days prior to maturity. You will have a grace period of at least 10 calendar days after the maturity date to withdraw the funds in the Account without being charged an early withdrawal penalty. If You withdraw the funds, no dividends will be paid for the grace period.

Early Withdrawal Penalties. We may impose a penalty if you withdraw any of the funds in your account before maturity. If your account has an original maturity of less than 181 days, the amount of the penalty will equal thirty days’ dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 181 days to 23 months, then the amount of the penalty will equal ninety days’ dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 24 months to 59 months, then the amount of the penalty will equal 180 days’ dividends on the amount withdrawn subject to penalty. If your account has an original maturity of 5 or more years, then the amount of the penalty will equal 365 days’ dividends on the amount withdrawn subject to penalty.