It started in 1997, when Alain de Botton turned away from writing novels and instead wrote a touching extended essay titled How Proust Can Change Your Life, which became an unlikely blockbuster in the self-helpcategory.
A sample penalty schedule might look like: 1  11 month CDs or shorter charge three monthsâ worth of interest. 2  12 to 59 month CDs charge six monthsâ worth of interest. 3  60 month or longer CDs charge 12 monthsâ worth of interest.
When you open a certificate of deposit (CD), you're agreeing to keep your money in the account for a specific period of time. If you want to withdraw your money earlier, you will be subject to the following penalties: For CDs with terms of less than 90 days: all interest earned on the amount withdrawn or seven days interest on the amount withdrawn, whichever is greater.