Standard CDs and the separate No Penalty certificate
National Bank of Blacksburg describes a penalty of three months of interest earned or that could have been earned on principal withdrawn from CDs with a maturity term of 12 months or less; longer terms carry six months. It permits one principal withdrawal per maturity term, subject to the applicable charge. Renewing CDs have a 10-calendar-day maturity grace period. Its separate No Penalty certificate allows one withdrawal of the original amount after at least seven calendar days on deposit; earlier or subsequent withdrawals can incur a penalty. The disclosure also provides a death or mental-incompetence waiver.
The source states a 365-day interest accrual basis, but does not establish how penalty months are converted or every account-specific restriction. The No Penalty timing and one-withdrawal conditions must not be dropped. Current public terms do not prove the terms of an older certificate; no numerical model is approved by this summary.
TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source