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
SELECT
TX · Credit union
Select Bank
VA · Bank
SELECT EMPLOYEES
IL · Credit union
SELECT SEVEN
TN · Credit union
SELF-HELP
NC · Credit union
SELF-HELP
NC · Credit union
SELF MEMORIAL HOSPITAL
SC · Credit union
SELFRELIANCE
IL · Credit union
SELF RELIANCE FINANCIAL
NY · Credit union
SEMINOLE PUBLIC SCHOOLS
TX · Credit union
SENECA NATION OF INDIANS
NY · Credit union
Seneca Savings Bank, National Association
NY · Bank
SENTINEL
SD · Credit union
SENTRY
WI · Credit union
Sentry Bank
MN · Bank
Servbank, National Association
IL · Bank
SERVE
IA · Credit union
SERVICE
NH · Credit union
SERVICE
WI · Credit union
SERVICE 1
MI · Credit union
SERVICE 1ST
PA · Credit union
SERVICE 1ST
TX · Credit union
SERVICE FIRST
SD · Credit union
SERVICE ONE
KY · Credit union
SERVICE PLUS
IL · Credit union
SERVICE STATION DEALERS
PA · Credit union
ServisFirst Bank
AL · Bank
SERVU
NY · Credit union
SESLOC
CA · Credit union
SETTLERS
MI · Credit union
SEVENFOLD
LA · Credit union
SEVEN SEVENTEEN
OH · Credit union
SEVIER COUNTY SCHOOLS
TN · Credit union
SEWERAGE & WATER BOARD EMPLOYEES
LA · Credit union
Sewickley Savings Bank
PA · Bank
SHAKER HEIGHTS
OH · Credit union
Shamrock Bank, N.A.
OK · Bank
SHARE ADVANTAGE
MN · Credit union
SHARED RESOURCES
TX · Credit union
SHAREFAX
OH · Credit union
SHAREPOINT
MN · Credit union
Sharon Bank
PA · Bank
SHARON & CRESCENT UNITED
MA · Credit union
SHARONVIEW
SC · Credit union
SHAWNEE TVA EMPLOYEES
KY · Credit union
SHAW-ROSS EMPLOYEES
FL · Credit union
SHEBOYGAN AREA
WI · Credit union
SHELBY/BOLIVAR COUNTY
MS · Credit union
SHELBY COUNTY
TN · Credit union
Shelby County State Bank
IL · 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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