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
Points West Community Bank
CO · Bank
POINT WEST
OR · Credit union
POINTWEST BANK
TX · Bank
POLAM
CA · Credit union
POLAM
CA · Credit union
POLICE
MD · Credit union
POLICE
WI · Credit union
POLICE CREDIT UNION OF CONNECTICUT
CT · Credit union
POLICE & FIRE
PA · Credit union
POLICEMEN'S
IN · Credit union
POLISH-AMERICAN
MI · Credit union
POLISH NATIONAL
MA · Credit union
POLISH & SLAVIC
NY · Credit union
POLK COUNTY
IA · Credit union
POLY SCIENTIFIC EMPLOYEES
VA · Credit union
POMPANO BEACH CITY EMP.
FL · Credit union
Ponce Bank, National Association
NY · Bank
PONTIAC DWIGHT PRISON EMPLOYS
IL · Credit union
Pony Express Bank
MO · Bank
POPA
CA · Credit union
Poppy Bank
CA · Bank
Popular Bank
NY · Bank
Portage Bank
WA · Bank
Portage Community Bank
OH · Bank
PORT ARTHUR COMMUNITY
TX · Credit union
PORT ARTHUR TEACHERS
TX · Credit union
PORT CITY
MI · Credit union
PORT CONNEAUT
OH · Credit union
PORT OF HAMPTON ROADS ILA
VA · Credit union
PORT OF HOUSTON
TX · Credit union
PORT OF HOUSTON WAREHOUSE
TX · Credit union
Portrait Bank
FL · Bank
Port Richmond Savings
PA · Bank
PORT TERMINAL
TX · Credit union
PORT WASHINGTON
NY · Credit union
POSTAL & COMMUNITY
MO · Credit union
POSTAL EMPLOYEES
NJ · Credit union
POSTAL FAMILY
ND · Credit union
POSTEL FAMILY
TX · Credit union
POST GAZETTE
PA · Credit union
POST OFFICE EMPLOYEES
LA · Credit union
POST OFFICE EMPLOYEES'
LA · Credit union
POTLATCH NO. 1 FINANCIAL
ID · Credit union
Potomac Bank
WV · Bank
POWELL SCHOOLS
WY · Credit union
Powell Valley National Bank
VA · Bank
POWER
CO · Credit union
POWER CO-OP EMPLOYEES
IA · Credit union
POWER FINANCIAL
FL · Credit union
POWERNET
FL · Credit union
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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