Certificates of deposit — published term tiers
First Citizens State Bank lists a penalty of 30 days of simple interest on the amount withdrawn for terms of at least 31 days but less than one year; 90 days for terms of at least one year but less than two years; and 180 days for terms of two years or longer. The rate used is the account’s rate at withdrawal. The bank says it can deduct the shortfall from principal when accrued interest does not cover the penalty. Its separate rule for terms shorter than one month forfeits the simple interest that could have been earned had the amount remained until maturity.
The source uses “less than one month” and “at least 31 days” for adjacent short-term categories, leaving a boundary that should be confirmed for a one-month contract. It does not specify the annual day basis or all early-withdrawal procedures. Death and judicial incompetence exceptions are stated, but eligibility and any IRA-specific conditions require confirmation. These published terms may differ from an older agreement.
TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source