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
Solvay Bank
NY · Bank
SOMERSET
MA · Credit union
Somerset Regal Bank
NJ · Bank
Somerset Trust Company
PA · Bank
Somerville Bank
OH · Bank
SOMERVILLE MASS FIREFIGHTERS
MA · Credit union
SOMERVILLE MUNICIPAL
MA · Credit union
SOMERVILLE SCHOOL EMPLOYEES
MA · Credit union
Sonata Bank
TN · Bank
SONOMA
CA · Credit union
SOO CO-OP
MI · Credit union
Sooner State Bank
OK · Bank
SOOPER CU DBA CLIMB CU
CO · Credit union
SORG BAY WEST
OH · Credit union
SOUND
CT · Credit union
SOUND
WA · Credit union
Sound Banking Company
WA · Bank
Sound Community Bank
WA · Bank
SOUTH ATLANTIC
FL · Credit union
South Atlantic Bank
SC · Bank
SOUTH BEND FIREFIGHTERS
IN · Credit union
SOUTH BEND TRANSIT
IN · Credit union
SOUTHBRIDGE
MA · Credit union
SOUTH CAROLINA
SC · Credit union
SOUTH CAROLINA METHODIST CONF
SC · Credit union
SOUTH CAROLINA NATIONAL GUARD
SC · Credit union
SOUTH CENTRAL
MI · Credit union
South Central Bank, Inc.
KY · Bank
SOUTH CENTRAL MISSOURI
MO · Credit union
South Central State Bank
NE · Bank
SOUTH CHARLESTON EMPLOYEES
WV · Credit union
SOUTHCOAST
MA · Credit union
South Coast Bank & Trust
GA · Bank
SOUTH COAST ILWU
OR · Credit union
SouthEast Bank
TN · Bank
SOUTHEASTERN
GA · Credit union
SOUTHEASTERN ARIZONA
AZ · Credit union
Southeastern Bank
GA · Bank
SOUTHEAST FINANCIAL
TN · Credit union
Southeast First National Bank
GA · Bank
SOUTHEAST LOUISIANA VETERANS HEALTH
LA · Credit union
SOUTHEAST MICHIGAN STATE EMPLOYEES
MI · Credit union
SOUTHEAST MISSOURI COMMUNITY
MO · Credit union
SOUTHERN
TX · Credit union
SOUTHERN
TN · Credit union
Southern Bancorp Bank
AR · Bank
Southern Bank
GA · Bank
Southern Bank
MO · Bank
Southern Bank and Trust Company
NC · Bank
Southern Bank of Tennessee
TN · 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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