Business CDs — account-disclosure penalty schedule
Peoples Trust Company’s business account disclosure lists a penalty of three months of interest on the amount withdrawn subject to penalty for an original CD maturity of six months or less. Original maturities longer than six months carry six months of interest on that amount. Credited interest from the current term may be withdrawn without penalty as described in the disclosure. Automatically renewing CDs have 10 calendar days after maturity for a penalty-free withdrawal.
This source is the business account disclosure, revised July 2025; it should not be generalized to every personal CD or an older contract. The document includes both automatic and nonautomatic renewal options, so the actual option matters. It does not fully establish the penalty’s month conversion, annual day basis, or principal shortfall treatment; applicable exceptions and final charges need bank confirmation.
TFS assisted source review: Aug 31, 2026 · Last source check: Aug 31, 2026 · Official source