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.