Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Don't Forget to Consider CD Early Withdrawal Penalties

Thursday, May 6, 2010 - 7:09 PM
With the possibility that interest rates will sharply rise in the next few years, the early withdrawal penalty of a CD is an especially important feature to note. This is even more important for long-term CDs. I have a list of early withdrawal penalties from many popular internet banks and credit unions in this early withdrawal survey post. The bank with the smallest penalty continues to be Ally Bank with 60 days interest penalty on all CDs. The worst is CNB Bank Direct which does not allow any early withdrawal.
1
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
Rep Points: 125,634
Reply