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
SAINT VINCENT ERIE
PA · Credit union
SAKER SHOP RITE
NJ · Credit union
SALAL
WA · Credit union
Salem Co-operative Bank
NH · Bank
Salem Five Cents Savings Bank
MA · Bank
SALEM SCHOOL SYSTEM
IL · Credit union
SALEM VA MEDICAL CENTER
VA · Credit union
SALINA INTERPAROCHIAL
KS · Credit union
SALINA MUNICIPAL
KS · Credit union
Sallie Mae Bank
UT · Bank
SALT CITY
NY · Credit union
SALT EMPLOYEES
TX · Credit union
SAN ANGELO
TX · Credit union
SAN ANTONIO CITIZENS
FL · Credit union
Sanborn Savings Bank
IA · Bank
Sandhills State Bank
NE · Bank
SANDIA AREA
NM · Credit union
SAN DIEGO COUNTY
CA · Credit union
SAN DIEGO FIREFIGHTERS
CA · Credit union
S AND J SCHOOL EMPLOYEES
OH · Credit union
SAN FRANCISCO
CA · Credit union
SAN FRANCISCO LEE
CA · Credit union
Sanger Bank
TX · Bank
Sanibel Captiva Community Bank
FL · Bank
SAN JOAQUIN POWER EMPLOYEES
CA · Credit union
SAN JUAN
UT · Credit union
SAN JUAN MOUNTAINS
CO · Credit union
San Luis Valley Federal Bank
CO · Bank
SAN MATEO CITY EMPLOYEES
CA · Credit union
SANTA ANA
CA · Credit union
SANTA BARBARA COUNTY
CA · Credit union
SANTA BARBARA TEACHERS
CA · Credit union
SANTA CRUZ COMMUNITY
CA · Credit union
SANTA FE
TX · Credit union
SANTA MARIA ASSOCIATED EMPLOYEES
CA · Credit union
Santander Bank, N.A.
DE · Bank
SANTA ROSA COUNTY
FL · Credit union
SANTEE COOPER CREDIT UNION
SC · Credit union
SANTO CHRISTO
MA · Credit union
SARATOGA'S COMMUNITY
NY · Credit union
SARCO
PA · Credit union
SARGENT
DC · Credit union
Sauk Valley Bank & Trust Company
IL · Bank
Savannah Bank National Association
NY · Bank
SAVANNAH POSTAL
GA · Credit union
SAVANNAH SCHOOLS
GA · Credit union
Savers Co-operative Bank
MA · Bank
Savings Bank
IA · Bank
Savings Bank of Mendocino County
CA · Bank
Savings Bank of Walpole
NH · 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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