Outwit These 13 Banking Fees in The Most Legal Way Possible

12. CD Early Withdrawal Fee

Certificates of deposit usually offer higher interest rates than savings accounts, but require you to leave your money in the account for a specific period. You’ll owe a penalty if you take out your money early, which varies depending on the length of the CD. For example, Bank of America charges the following fees for CD withdrawals:

• CDs maturing in less than 90 days: All interest or seven days’ interest, whichever is greater
• CDs maturing in 90 days to 12 months: 90 days’ interest
• CDs maturing in 12 months to 60 months: 180 days’ interest
• CDs maturing in 60 months or more: 365 days’ interest