The minimum penalty for early withdrawal on a certificate of deposit account is the equivalent of fourteen days' interest.

The statement about the minimum penalty for early withdrawal on a certificate of deposit (CD) being equivalent to fourteen days' interest is false. Generally, the penalties for early withdrawal of funds from a CD can vary depending on the financial institution's specific policies and the terms set forth at the time of investment.

Many banks or credit unions typically calculate early withdrawal penalties based on a higher proportion of the interest earned—often ranging from a few months’ worth of interest, depending on the duration and terms of the CD. This variance is important because it reflects the institution's effort to discourage early withdrawals and to manage the funds they have locked in through CDs.

Therefore, it's essential for individuals considering a CD to review the penalty structure specified in the disclosure documents provided by the institution to fully understand the financial implications of early withdrawal.