First Bank Elk River CD Early Withdrawal Penalty

First Bank Elk River
CD early withdrawal penalty

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Published terms reviewed; calculation inputs still required

We have reviewed the published terms below. They do not establish every detail needed for a bank-specific dollar calculation, so the estimator requires your own agreement inputs. We do not fill those gaps with assumptions.

What the published disclosure says

Regular Certificates of Deposit

First Bank Elk River’s CD rate table links the 91-day term to a possible loss of three months of interest, the 182-day and one-year terms to six months of interest, and the 18-month, two-, three-, and four-year terms to 12 months of interest for early withdrawal. The same footnote markers apply across each displayed balance band.

Limits to check in your own agreement

The footnotes say the penalty “may be” the stated loss, rather than supplying a complete withdrawal formula. This institution is First Bank Elk River, not the separate Bank of Elk River. The rate table was marked current as of August 25, 2026; individual agreements and any exceptions still need confirmation.

TFS assisted source review: Aug 31, 2026 · Last source check: Oct 5, 2026 · Read the official source ↗

Need a dollar estimate? Use the terms that apply to your CD in the calculator below. See a worked break-or-hold example first if you are comparing rates.

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Estimate a full principal withdrawal before maturity. Amounts stay in this page and are not sent to TFS. Your institution must confirm eligibility and the final redemption quote.

Enter the terms from your disclosure

These are your inputs, not verified First Bank Elk River terms. This manual model supports simple days/months of interest or all interest earned. Percentage fees, tiered formulas, special minimums, and exceptions need an institution quote.

Penalty formulaPenalty daysInterest year basisCan the penalty reduce principal?

CD principal ($)Contractual annual interest rate (%)Use the interest rate on your CD agreement, not the advertised APY.Interest still on deposit and payable ($)Exclude interest already paid out. Use your institution’s current figure.

Compare holding this CD with reinvesting the proceeds until the same maturity date.I checked that these terms apply to my product, original term, and deposit date. This is a full withdrawal before maturity, outside any special withdrawal window. Any early-holding-period minimum has been accounted for.