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
Penn Community Bank
PA · Bank
PennCrest Bank
PA · Bank
PENN EAST
PA · Credit union
PENN HILLS MUNICIPAL
PA · Credit union
Pennian Bank
PA · Bank
PENN SOUTH COOPERATIVE
NY · Credit union
PENNSTAR
PA · Credit union
PENN STATE
PA · Credit union
PENNSYLVANIA-AMERICAN WATER
PA · Credit union
PENNSYLVANIA CENTRAL
PA · Credit union
PENNSYLVANIA STATE EMPLOYEES
PA · Credit union
PENNTECH EMPLOYEES
PA · Credit union
PENN-TRAFFORD SCHOOL EMP.
PA · Credit union
PENTAGON
VA · Credit union
Pentucket Bank
MA · Bank
PEOPLE DRIVEN
MI · Credit union
PEOPLE FIRST
PA · Credit union
PeopleFirst Bank
IL · Bank
PEOPLE'S
LA · Credit union
PEOPLES
WV · Credit union
PEOPLES
IA · Credit union
PEOPLES
CO · Credit union
PEOPLES ADVANTAGE
VA · Credit union
PEOPLE'S ALLIANCE
NY · Credit union
Peoples Bank
KY · Bank
Peoples Bank
NC · Bank
Peoples Bank
WA · Bank
Peoples Bank
OH · Bank
Peoples Bank
LA · Bank
Peoples Bank
MS · Bank
Peoples Bank
TN · Bank
Peoples Bank
MO · Bank
Peoples Bank
IA · Bank
Peoples Bank
GA · Bank
Peoples Bank
IA · Bank
Peoples Bank
TX · Bank
Peoples Bank
IN · Bank
PeoplesBank
MA · Bank
PEOPLES BANK
AR · Bank
Peoples Bank and Trust Company
KS · Bank
Peoples Bank and Trust Company
OK · Bank
People's Bank and Trust Company of Pickett County
TN · Bank
Peoples Bank Co.
MO · Bank
Peoples Bank, Mt. Washington
KY · Bank
Peoples Bank of Alabama
AL · Bank
People's Bank of Commerce
OR · Bank
Peoples Bank of Deer Lodge
MT · Bank
Peoples Bank of East Tennessee
TN · Bank
Peoples Bank of Graceville
FL · Bank
Peoples Bank of Greensboro
AL · 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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