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.
About CD early withdrawal fees. The earlier you withdraw money from your CD, the less interest youâll earn. And in most cases, youâll also have to pay some sort of penalty. That could be a specified number of monthsâ worth of interest. Say you have a two-year CD and you cash it after seven months. You might have to forfeit six months of interest for early withdrawal, leaving you with very little in the way of a return.