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
TAMPA POSTAL
FL · Credit union
TANDEM
MI · Credit union
TANGIPAHOA PARISH TEACHERS
LA · Credit union
TAPCO
WA · Credit union
Tarboro Savings Bank, SSB
NC · Bank
TARRANT COUNTY'S CREDIT UNION
TX · Credit union
TAUNTON
MA · Credit union
TAUPA LITHUANIAN
MA · Credit union
TAYCO EMPLOYEES
KY · Credit union
TAYLOR
WI · Credit union
Taylor County Bank
KY · Bank
Taylorsville Savings Bank, SSB
NC · Bank
TAYLORVILLE COMMUNITY
IL · Credit union
TAYLORVILLE SCHOOL EMPLOYEES
IL · Credit union
TBA
MI · Credit union
T Bank, National Association
TX · Bank
TBK BANK, SSB
TX · Bank
TBO Bank
MO · Bank
TCM Bank, National Association
FL · Bank
TCP
NC · Credit union
TCT
NY · Credit union
TD Bank, National Association
DE · Bank
TD Bank USA, National Association
DE · Bank
T E A
LA · Credit union
TEACHERS
NY · Credit union
TEACHERS
OK · Credit union
TEACHERS
WI · Credit union
TEAM FIRST
PA · Credit union
TEAM ONE
MI · Credit union
TEAMSTERS
MN · Credit union
TEAMSTERS COUNCIL #37
OR · Credit union
TEAMSTERS LOCAL #238
IA · Credit union
TEAMSTERS LOCAL 697
WV · Credit union
TEAMSTERS LOCAL UNION #270
LA · Credit union
TEANECK
NJ · Credit union
TECH
IN · Credit union
TECHNICOLOR
CA · Credit union
TECHNOLOGY
CA · Credit union
Tecumseh Federal Bank
NE · Bank
TEE-PAK
IL · Credit union
TEG
NY · Credit union
TELCO
NC · Credit union
TELCO COMMUNITY CREDIT UNION
NC · Credit union
TELCOE
AR · Credit union
TELCOMM
MO · Credit union
TELCO PLUS
TX · Credit union
TELCO TRIAD COMMUNITY
IA · Credit union
TELHIO
OH · Credit union
TEL-U-WATT
ND · Credit union
TEMPLE-INLAND
TX · 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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