There's a 10 year interest penalty for early withdrawal. and on the faq[1] it sa... | Hacker News

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		sigmar on June 30, 2023 \| parent \| context \| favorite \| on: Concord bank offers a 100-year CD There's a 10 year interest penalty for early withdrawal. and on the faq[1] it says: > Note that in the case that you withdraw the CD before 10 years, the penalty would reduce the principal value of the CD. Does that mean if they close within 10 years, the FDIC insurance would be below the principal? [1] https://www.waldenmutual.com/posts/coming-soon-our-100-year-...

lmm on June 30, 2023 [–]

> Does that mean if they close within 10 years, the FDIC insurance would be below the principal?

No? The FDIC insures the money in your account, not the money in your account minus some random estimate of your fees.

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