Certificates of deposit — first-six-day and percentage penalties
United Bank of Union publishes different early-withdrawal charges based on when the CD is closed or funds are withdrawn. During the first six days, it states a penalty equal to seven days of interest earned. After six days from account opening and before maturity, the charge is 4% of the amount withdrawn. That later charge is a percentage of the withdrawal itself, not a fixed number of months of interest.
The bank’s wording for the initial period is “seven days’ interest earned”; the page does not explain its exact day-count basis or how a shortfall is collected. Confirm the opening-date convention, partial-withdrawal conditions, and the applicable agreement before calculating a charge. A previous CD or subsequent renewal may have different contractual terms; obtain the bank’s final quote.
TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source