Certificates of deposit — published penalty schedule
Quontic’s Truth-in-Savings disclosure describes its three-month CD as a 91-day deposit with a penalty equal to 91 days of interest. The six-month CD carries a six-month-interest penalty, and the twelve-month CD carries a twelve-month-interest penalty. For the listed twenty-four-, thirty-six-, and sixty-month CDs, the stated penalty is twenty-four months of interest. Each listed product has a ten-calendar-day grace period after maturity. The transaction-limit language says deposits and withdrawals are not allowed before maturity; arrange any early redemption with the bank rather than assuming the penalty creates a right to withdraw.
Matched the official disclosure to Quontic Bank (FDIC 57807). The source gives penalty periods but does not specify the full numerical penalty convention or all principal-reduction conditions in these product sections. No 365-day basis or simple monthly convention is inferred. Confirm your applicable agreement and any additional fees before using the manual estimator.
TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source