Ultima Bank Minnesota CD early withdrawal penalty

Ultima Bank Minnesota
CD early withdrawal penalty

TFS is an independent publisher, not this institution. View its financial health profile.

Published terms reviewed; calculation inputs still required

We have reviewed the published terms below. They do not establish every detail needed for a bank-specific dollar calculation, so the estimator requires your own agreement inputs. We do not fill those gaps with assumptions.

Personal certificates of deposit

Ultima Bank Minnesota states that CDs with terms of 12 months or less incur one month of interest if an early withdrawal occurs; longer terms incur three months. The page says additional deposits or withdrawals are not permitted during the term, so the charge is not a guarantee that early access will be approved. At maturity, CDs automatically renew and provide a 10-day period to withdraw without penalty.

The source is Ultima Bank Minnesota’s personal CD page. It describes daily balance interest accrual and different crediting schedules, but not the exact penalty-month convention or principal-loss treatment. Confirm the account’s applicable agreement and whether the bank will permit the requested early redemption.

TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source

What would closing your CD cost?

FREE · NO SIGN-IN

Estimate a full principal withdrawal before maturity. Amounts stay in this page and are not sent to TFS. Your institution must confirm eligibility and the final redemption quote.

Enter the terms from your disclosure

These are your inputs, not verified Ultima Bank Minnesota terms. This manual model supports simple days/months of interest or all interest earned. Percentage fees, tiered formulas, special minimums, and exceptions need an institution quote.

Penalty formulaPenalty daysInterest year basisCan the penalty reduce principal?

CD principal ($)Contractual annual interest rate (%)Use the interest rate on your CD agreement, not the advertised APY.Interest still on deposit and payable ($)Exclude interest already paid out. Use your institution’s current figure.

Compare holding this CD with reinvesting the proceeds until the same maturity date.I checked that these terms apply to my product, original term, and deposit date. This is a full withdrawal before maturity, outside any special withdrawal window. Any early-holding-period minimum has been accounted for.

Ultima Bank MinnesotaCD early withdrawal penalty

Published terms reviewed; calculation inputs still required

Personal certificates of deposit

What would closing your CD cost?

Located source pages

Ultima Bank Minnesota
CD early withdrawal penalty