Certificates of deposit — penalty and uncredited interest
Wilson State Bank lists an early-withdrawal penalty of 90 days of interest. It also says that closing the account before interest is credited means accrued interest is not paid, and describes annual interest crediting. That additional statement matters when assessing an early closure; the 90-day amount alone may not describe the full cost. The CD automatically renews, with 10 calendar days after maturity to withdraw without a penalty.
The bank’s page uses actual days over 365 for ordinary interest but does not fully establish the penalty calculation balance, collection from principal, or the interaction between the 90-day charge and unpaid accrued interest. Obtain a closure quote instead of assuming a simple 90-day calculation captures everything. Confirm applicability to the specific opening or renewal agreement.
TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source