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Certificate of Deposit - What Happens Your CD at MaturityA certificate of deposit typically earns higher interest than a traditional savings account. View Bank of America CD rates and account options. days (or months), the penalty is 3 months' interest,; Over 12 months through 24 months, the penalty is 6 months' interest, or; Over 24 months. For terms shorter than 1 year, the penalty is 90 days simple interest. For terms 12 months to 3 years, the penalty is days simple interest.
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