As of June 2015, First National Bank offers certificates of deposit with terms ranging from 32 days to three years, according to the official website. All of the CDs require a $2,000 initial deposit and have an early withdrawal penalty ranging from one to nine months.
Shorter-term CDs with maturity terms of 32 days, 90 days or six months have a one-month penalty for early withdrawal of the deposits, and one-year CDs have a two-month penalty, explains First National Bank. Eighteen-month CDs have a three-month penalty, and two-year CDs have a six-month penalty. Three-year certificates have a nine-month penalty for early withdrawal of funds. Certificates for one year or more offer a step-up option, which allows a depositor to change the interest rate once during the term of the instrument.