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
PriorityOne Bank
MS · Bank
PRIORITYONE CREDIT UNION OF FLORIDA
FL · Credit union
PRIORITY PLUS
DE · Credit union
PRIORITY TRUST
TX · Credit union
Prism Bank
OK · Bank
Private Bank & Trust
GA · Bank
Producer Bank of Texas
TX · Bank
Producers Bank & Trust
AR · Bank
Produce State Bank
MN · Bank
PROFED
IN · Credit union
PROFESSIONAL FIRE FIGHTERS
LA · Credit union
Profile Bank
NH · Bank
PROFINANCE
IN · Credit union
Profinium, Inc.
MN · Bank
PROGRESSIONS
WA · Credit union
Progressive National Bank
LA · Bank
Progressive Ozark Bank
MO · Bank
ProGrowth Bank
MN · Bank
PROMEDICA
OH · Credit union
PromiseOne Bank
GA · Bank
PROPONENT
NJ · Credit union
Prospect Bank
IL · Bank
PROSPERA
WI · Credit union
Prosperity Bank
TX · Bank
Providence Bank
NC · Bank
Providence Bank & Trust
IL · Bank
PROVIDENT
DE · Credit union
PROVIDENT
CA · Credit union
Provident Bank
NJ · Bank
Provident Savings Bank, F.S.B.
CA · Bank
PRR SOUTH FORK
PA · Credit union
P & S
UT · Credit union
PS Bank
PA · Bank
P S E
NJ · Credit union
P.S.E. & G. NUCLEAR EMPLOYEES
NJ · Credit union
PUBLIC SAFETY
MO · Credit union
PUBLIC SERVICE
NJ · Credit union
PUBLIC SERVICE
MI · Credit union
PUBLIC SERVICE
WI · Credit union
PUBLIC SERVICE #3
IN · Credit union
PUBLIC SERVICE E.D. TRENTON
NJ · Credit union
PUBLIC SERVICE EDWARDSPT PL E
IN · Credit union
PUBLIC SERVICE H C EMPLOYEES
NJ · Credit union
PUBLIC SERVICE PLAZA
NJ · Credit union
PUBLIX EMPLOYEES
FL · Credit union
PUD
WA · Credit union
PUEBLO GOVERNMENT AGENCIES
CO · Credit union
PUERTO RICO
PR · Credit union
PUERTO RICO EMPLOYEE GROUPS
PR · Credit union
PUGET SOUND COOPERATIVE
WA · 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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