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
SISSETON-WAHPETON
SD · Credit union
SISTER'S HOSPITAL EMPLOYEES
NY · Credit union
SIU
IL · Credit union
SIUE
IL · Credit union
SIXTH AVENUE BAPTIST
AL · Credit union
SJN Bank of Kansas
KS · Bank
SJP
NY · Credit union
SKEL-TEX
TX · Credit union
Skowhegan Savings Bank
ME · Bank
SKY
MT · Credit union
SKYLA
NC · Credit union
SKYLINE
TN · Credit union
SKYLINE FINANCIAL
CT · Credit union
SKYLINE NATIONAL BANK
VA · Bank
SKYONE
CA · Credit union
SKYPOINT
MD · Credit union
SKYWARD
KS · Credit union
SLO
CA · Credit union
SLOAN PUBLIC SCHOOLS
NY · Credit union
Sloan State Bank
IA · Bank
Slovenian Savings and Loan Association of Canonsburg
PA · Bank
Slovenian Savings and Loan Association of Franklin-Conemaugh
PA · Bank
SM
KS · Credit union
Smackover State Bank
AR · Bank
SmartBank
TN · Bank
SmartBiz Bank, National Association
IL · Bank
SMART CHOICE
TN · Credit union
SMARTCHOICE
IL · Credit union
SMART FINANCIAL
TX · Credit union
SMBC MANUBANK
CA · Bank
SMW 104
CA · Credit union
SMW FINANCIAL
MN · Credit union
SNAKE RIVER
ID · Credit union
SNB Bank, National Association
OK · Bank
SNOCOPE
WA · Credit union
SNO FALLS
WA · Credit union
SOARION
TX · Credit union
SOCIAL SECURITY
AL · Credit union
SoFi Bank, National Association
UT · Bank
SOFTITE COMMUNITY
OH · Credit union
SOLARITY
WA · Credit union
Solera National Bank
CO · Bank
SOLIDARITY COMMUNITY
IN · Credit union
SOLON/CHAGRIN FALLS
OH · Credit union
Solon State Bank
IA · Bank
SOLUTIONS
NY · Credit union
Solutions Bank
IL · Bank
SOLUTIONS FIRST
AL · Credit union
SOLUTIONS NORTH BANK
KS · Bank
Solutions Plus Bank
AL · 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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