Before you break your CD
Find the terms.
See the dollar cost.
Search your bank or credit union for CD withdrawal sources and reviewed penalty rules. If we haven’t verified the applicable terms, the calculator requires your own disclosure inputs.
Find your institution
8,424 matching institutions · Reviewed rules appear first
MUNICIPAL EMPLOYEES
LA · Credit union
MUNICIPAL EMPS CU OF OKLAHOMA CITY
OK · Credit union
Municipal Trust and Savings Bank
IL · Bank
Murphy Bank
CA · Bank
Murphy-Wall State Bank and Trust Company
IL · Bank
MUSICIANS
TX · Credit union
MUSKEGON
MI · Credit union
MUSKEGON ST JOSEPH
MI · Credit union
MUSKOGEE
OK · Credit union
MUTUAL
MS · Credit union
Mutual Federal Bank
IL · Bank
MUTUAL FIRST
NE · Credit union
MutualOne Bank
MA · Bank
MUTUAL SAVINGS
AL · Credit union
Mutual Savings and Loan Association
LA · Bank
Mutual Savings Association
KS · Bank
Mutual Savings Bank
IN · Bank
MUTUAL SECURITY
CT · Credit union
MUW
MS · Credit union
MVB Bank, Inc
WV · Bank
MVP POSTAL AND PRINTING
MD · Credit union
M.W.P.H. GRAND LODGE OF ILLINOIS
IL · Credit union
MY
MN · Credit union
MY
TX · Credit union
MYCOM
MA · Credit union
MY COMMUNITY
TX · Credit union
MYGEORGIA
GA · Credit union
My Kind of Bank, National Association
MN · Bank
MY PENSACOLA
FL · Credit union
MYPOINT
CA · Credit union
N A E
VA · Credit union
NAFT
TX · Credit union
NAHEOLA
AL · Credit union
Nantahala Bank & Trust Company
NC · Bank
NASA
MD · Credit union
NASHVILLE FIREMEN'S
TN · Credit union
NASHVILLE POST OFFICE
TN · Credit union
Nashville Savings Bank
IL · Bank
NASSAU FINANCIAL
NY · Credit union
Natbank, National Association
FL · Bank
NATCHEZ EDUCATORS
MS · Credit union
NATCO
IN · Credit union
NATCO EMPLOYEES
RI · Credit union
National Advisors Trust Company
KS · Bank
National Bank of Commerce
WI · Bank
National Bank of St. Anne
IL · Bank
National Bank & Trust
TX · Bank
NATIONAL COOPERATIVE BANK, N.A.
OH · Bank
NATIONAL EMPLOYEES
WV · Credit union
National Exchange Bank and Trust
WI · Bank
What would closing your CD cost?
FREE · NO SIGN-INEstimate a full principal withdrawal before maturity. Amounts stay in this page and are not sent to TFS. Your institution must confirm eligibility and the final redemption quote.
The decision behind the calculator
Should you break a CD for a higher rate?
First, find the penalty in the agreement for your exact CD and opening date. A schedule published today may differ from the one that governs your account. Check whether the bank allows early withdrawal and whether the charge can reduce principal.
Then compare both choices at the same future date: what your current CD would be worth at maturity, and what the proceeds after its penalty could earn elsewhere by then. Use the contractual interest rate to estimate an interest-based penalty; use APY only for the future-growth comparison.
An illustrative $10,000 CD
Suppose your agreement specifies 180 days of simple interest as the penalty, a 365-day basis, and a 4% contractual rate. With no interest available on withdrawal, the estimated charge is $197.26 if the bank permits it to reduce principal.
With one year left, a current 4% APY would grow $10,000 to about $10,400. Reinvesting the $9,802.74 proceeds at 5% APY would grow to about $10,292.88. In this example, holding wins by about $107.12.
Illustration only, not a bank-specific rule or quote. It assumes constant APYs, immediate reinvestment, and no taxes, transfer delays, or other fees.
Why your exact product matters
Penalty periods, principal reductions, partial withdrawals, and maturity grace periods can differ within one bank. Current advertised terms may not apply to an older CD. We link to sources and withhold bank-specific defaults when verification expires or a source changes.
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