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
PEPCO
DC · Credit union
Perennial Bank
MN · Bank
PERFECT CIRCLE
IN · Credit union
Peru Federal Savings Bank
IL · Bank
Petefish, Skiles & Co.
IL · Bank
Petit Jean State Bank
AR · Bank
PFCU
MI · Credit union
PFD FIREFIGHTERS CREDIT UNION INC.
VA · Credit union
P & G MEHOOPANY EMPLOYEES
PA · Credit union
PHB EMPLOYEES
PA · Credit union
Phelps County Bank
MO · Bank
Phenix-Girard Bank
AL · Bank
PHEPLE
PA · Credit union
P.H.I.
LA · Credit union
PHI BETA SIGMA
DC · Credit union
PHILADELPHIA
PA · Credit union
Philo Exchange Bank
IL · Bank
Phoenixville Federal Bank and Trust
PA · Bank
P.I.A.S.
TN · Credit union
PICATINNY
NJ · Credit union
Pickens Savings and Loan Association, FA
SC · Bank
P.I.E.
TX · Credit union
PIEDMONT ADVANTAGE CREDIT UNION
NC · Credit union
Piedmont Federal Savings Bank
NC · Bank
Piermont Bank
NY · Bank
Pike National Bank
MS · Bank
PIKES PEAK
CO · Credit union
Pikes Peak National Bank
CO · Bank
Pilgrim Bank
TX · Bank
PILGRIM BAPTIST
IL · Credit union
PILGRIM CUCC
TX · Credit union
PILLAR
OH · Credit union
Pillar Bank
WI · Bank
Pilot Grove Savings Bank
IA · Bank
PIMA
AZ · Credit union
PINAL COUNTY
AZ · Credit union
PINE
AR · Credit union
PINE BELT
MS · Credit union
Pine Country Bank
MN · Bank
Pineland Bank
GA · Bank
PINELLAS
FL · Credit union
Pine River State Bank
MN · Bank
Pinnacle Bank
IA · Bank
Pinnacle Bank
NE · Bank
Pinnacle Bank
GA · Bank
Pinnacle Bank
TX · Bank
Pinnacle Bank
AL · Bank
Pinnacle Bank
TN · Bank
Pinnacle Bank
CA · Bank
Pinnacle Bank, Inc.
KY · 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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