Are there penalties for early withdrawal on certificates of deposit?

Yes, there are penalties for early withdrawal on certificates of deposit (CDs) at First California Bank. If you withdraw funds from your CD before the maturity date, you may be subject to an early withdrawal penalty. The specific penalty amount may vary depending on the term of the CD and the amount withdrawn prematurely. We recommend reviewing your account terms and conditions or contacting our customer service for more information on the penalties associated with early withdrawal. These penalties serve to discourage early withdrawals and ensure the stability and profitability of deposit accounts. It is important to carefully consider the term of your CD before making any early withdrawal decisions to avoid any unnecessary penalty charges.