Answers about CDs and Certificates of Deposit
What are the penalties for withdrawing money early from a Time Certificate of Deposit (CD)?
Federal law stipulates that all time certificates of deposit (CD) that are cashed out early are subject to a minimum penalty. If you withdraw an amount within the first six days after deposit, the penalty consists of at least seven days' simple interest. Other than that, national banks can set their own penalties; there is no maximum.
Additionally, you may want to review the Account Agreement that the bank provided when you opened the account, as it explains the early withdrawal penalties.