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
The Commercial Bank
GA · Bank
The Commercial Bank
MS · Bank
The Commercial Bank
SC · Bank
The Commercial Bank
TX · Bank
The Commercial Bank of Grayson
KY · Bank
The Commercial Bank Of Ozark
AL · Bank
The Commercial National Bank of Brady
TX · Bank
The Community Bank
OH · Bank
The Community Bank
KS · Bank
The Community Bank
TX · Bank
The Community State Bank
OK · Bank
The Converse County Bank
WY · Bank
The Conway National Bank
SC · Bank
The Cooperative Bank
MA · Bank
The Corn City State Bank
OH · Bank
The Corner Stone Bank
MO · Bank
THE COUNTY
ME · Credit union
The Covington Savings and Loan Association
OH · Bank
The Cowboy Bank of Texas
TX · Bank
THE CREDIT UNION FOR ALL
IL · Credit union
The Croghan Colonial Bank
OH · Bank
The Dart Bank
MI · Bank
The Delaware National Bank of Delhi
NY · Bank
The Denison State Bank
KS · Bank
The Dickinson County Bank
KS · Bank
The Dime Bank
PA · Bank
THE DISTRICT
CO · Credit union
The Dolores State Bank
CO · Bank
The Donley County State Bank
TX · Bank
The Eastern Colorado Bank
CO · Bank
The Ephrata National Bank
PA · Bank
The Equitable Bank, S.S.B.
WI · Bank
The Equitable Savings and Loan Company
OH · Bank
The Evangeline Bank and Trust Company
LA · Bank
The Exchange Bank
OK · Bank
The Exchange Bank of Alabama
AL · Bank
The Exchange State Bank
IA · Bank
The Exchange State Bank of St. Paul, Kansas
KS · Bank
The Fahey Banking Company
OH · Bank
The Fairfield National Bank
IL · Bank
The Fairmount State Bank
IN · Bank
The Falls City National Bank
TX · Bank
THE FAMILY
IA · Credit union
THE FAMILY FIRST
MT · Credit union
The Farmers and Merchants Bank
IN · Bank
The Farmers and Merchants Bank
OH · Bank
The Farmers and Merchants National Bank of Fairview
OK · Bank
The Farmers and Merchants National Bank of Nashville
IL · Bank
The Farmers and Merchants State Bank
SD · Bank
The Farmers Bank
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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