If you’re thinking of withdrawing money from a CD before it matures, you may be wondering if there’s a penalty for doing so. The good news is that in most cases, there is no penalty for withdrawing money from a CD before it matures. The bad news is that there are a few exceptions.

CDs typically come with a penalty for early withdrawal, which is typically a set number of months of interest that you would lose if you withdrew your money before the CD matured. However, many banks will waive this penalty if you are withdrawing the money for …