Generally speaking, you cannot withdraw money from a CD before it reaches maturity. CDs are taken out for a specific term, which you choose. Terms will typically start from one month and go up to 6 years. Should you decide to withdraw money before the CD reaches a maturity date, you may be liable to pay an early withdrawal penalty. Some banks also offer what are called no-penalty CDs. These CDs will typically pay less but allow you to withdraw your money before the maturity date.