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
PUGET SOUND REFINERY
WA · Credit union
PURDUE
IN · Credit union
Putnam 1st Mercantile Bank
TN · Bank
Putnam County Bank
WV · Bank
Putnam County State Bank
MO · Bank
PUTNAM SCHOOL EMPLOYEES
WV · Credit union
PWC EMPLOYEES
VA · Credit union
PyraMax Bank, FSB
WI · Bank
PYRAMID
AZ · Credit union
QNB Bank
PA · Bank
QSIDE
NY · Credit union
Quad City Bank and Trust Company
IA · Bank
Quail Creek Bank
OK · Bank
Quaint Oak Bank
PA · Bank
QUAKER OATS
IA · Credit union
QUALSTAR
WA · Credit union
QUANTUM
KS · Credit union
QUAY SCHOOLS
NM · Credit union
Queensborough National Bank & Trust Company
GA · Bank
QUEST
OH · Credit union
QUESTA
NM · Credit union
QUINCY
MA · Credit union
QUINCY POSTAL EMPLOYEES
IL · Credit union
QUINDARO HOMES
KS · Credit union
Quoin Financial Bank
SD · Bank
Quontic Bank
NY · Bank
QUORUM
NY · Credit union
Rabun County Bank
GA · Bank
Raccoon Valley Bank
IA · Bank
RACINE MUNICIPAL EMPLOYEES
WI · Credit union
RADIANT
FL · Credit union
RADIFI
FL · Credit union
RADIO CAB
OR · Credit union
RADIUS
NY · Credit union
RAH
MA · Credit union
RAILROAD
AL · Credit union
RAILROAD EMPLOYEES
NM · Credit union
RAILS WEST
ID · Credit union
RAILWAY
ND · Credit union
RAILWAY EMPLOYEES
AL · Credit union
RAIZ
TX · Credit union
RALEIGH CO. EDUCATORS
WV · Credit union
RALEIGH COUNTY
WV · Credit union
RALLY
TX · Credit union
RANCHO
CA · Credit union
Randall State Bank
MN · Bank
RANDOLPH-BROOKS
TX · Credit union
Range Bank
MI · Bank
RAPIDES
LA · Credit union
RAPIDES GENERAL HOSPITAL EMPL
LA · 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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