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.
Early Withdrawal Penalties. Creating conditions for avoiding early withdrawal penalties for CDs is a worthwhile task. Banks can charge penalties up to seven days' interest if you withdraw funds within six days of getting your CD. After that period, banks can set their own individual penalties.