Withdrawals within seven days of any prior withdrawal where the Bank's early withdrawal penalty is not applied.Withdrawals made during the grace period, when additional deposits are made during the grace period and the withdrawal exceeds the amount of the matured CD balance.Withdrawals made within seven days of account opening including the day the account was opened.The Regulation D Penalty is seven days' simple interest on the amount withdrawn and applies to: Penalties could reduce earnings on this account. You may pay an early withdrawal penalty or a Regulation D penalty if you withdraw funds from your account before the term is complete.