The document establishes tiered early withdrawal penalties for CDs based on term length: 90 days of interest for terms under 6 months, 180 days of interest for terms of 6 months to under 24 months, and 365 days of interest for terms of 24 months or more, with the penalty deducted from principal if insufficient interest has accrued. Early withdrawals within seven days of opening or a prior principal withdrawal carry a minimum penalty of seven days' interest.
This analysis describes what Chase's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision establishes that early CD withdrawals result in penalties that may reduce principal if accrued interest is insufficient to cover the penalty amount, with the penalty magnitude increasing based on CD term length up to 365 days of interest for long-term CDs.
Under this clause, consumers who withdraw CD principal before maturity are subject to penalties of up to 365 days of interest depending on the CD term, and if the account has not earned sufficient interest to cover the penalty, the shortfall will be deducted from the deposited principal. The document also specifies waiver conditions for death, disability, and certain legal determinations regarding CD owners.
Cross-platform context
See how other platforms handle CD Early Withdrawal Penalties and similar clauses.
Compare across platforms →"There is a penalty for withdrawing principal prior to the maturity date. If the term of the CD is less than 6 months, the early withdrawal penalty is 90 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD. If the term of the CD is 6 months to less than 24 months, then the early withdrawal penalty is 180 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD. For terms 24 months or more, the early withdrawal penalty is 365 days of interest on the amount withdrawn, but not more than the total amount of interest earned during the current term of the CD. The amount of your penalty will be deducted from principal.Excerpt from Chase's Fee Schedule
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This provision establishes that early CD withdrawals result in penalties that may reduce principal if accrued interest is insufficient to cover the penalty amount, with the penalty magnitude increasing based on CD term length up to 365 days of interest for long-term CDs.
Under this clause, consumers who withdraw CD principal before maturity are subject to penalties of up to 365 days of interest depending on the CD term, and if the account has not earned sufficient interest to cover the penalty, the shortfall will be deducted from the deposited principal. The document also specifies waiver conditions for death, disability, and certain legal …
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