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 Farmers Bank
OK · Bank
The Farmers Bank
GA · Bank
The Farmers Bank
KY · Bank
The Farmers Bank and Savings Company
OH · Bank
The Farmers Bank of Appomattox
VA · Bank
The Farmers Bank of Milton
KY · Bank
The Farmers Bank of Willards
MD · Bank
The Farmers & Merchants Bank
AL · Bank
The Farmers & Merchants Bank
WI · Bank
The Farmers & Merchants Bank
AR · Bank
The Farmers & Merchants State Bank
OH · Bank
The Farmers National Bank of Canfield
OH · Bank
The Farmers National Bank of Danville
KY · Bank
The Farmers National Bank of Lebanon
KY · Bank
The Farmers State Bank
OK · Bank
The Farmers State Bank
IA · Bank
The Farmers State Bank
KS · Bank
The Farmers State Bank
OH · Bank
The Farmers State Bank
KS · Bank
The Farmers State Bank
KS · Bank
The Farmers State Bank
KS · Bank
The Farmers State Bank
KS · Bank
The Farmers State Bank and Trust Company
IL · Bank
The Farmers State Bank of Aliceville, Kansas
KS · Bank
The Farmers State Bank of Blue Mound
KS · Bank
The Farmers State Bank of Bucklin, Kansas
KS · Bank
The Farmers State Bank of Oakley, Kansas
KS · Bank
The Farmers State Bank of Turton
SD · Bank
The Farmers State Bank of Waupaca
WI · Bank
The Farmers State Bank of Westmoreland
KS · Bank
The Fayette County National Bank of Fayetteville
WV · Bank
The Federal Savings Bank
IL · Bank
The Fidelity Bank
NC · Bank
The Fidelity Deposit and Discount Bank
PA · Bank
The Fidelity State Bank and Trust Company
KS · Bank
THE FINEST
NY · Credit union
The First Bank and Trust Company
VA · Bank
The First Bank and Trust Company of Murphysboro
IL · Bank
The First Bank of Celeste
TX · Bank
The First Bank of Greenwich
CT · Bank
The First Bank of Okarche
OK · Bank
The First Central National Bank of St. Paris
OH · Bank
The First Farmers National Bank of Waurika
OK · Bank
THE FIRST FINANCIAL
CA · Credit union
The First National Bank and Trust
AL · Bank
The First National Bank and Trust Co., Chickasha, Oklahoma
OK · Bank
The First National Bank and Trust Company of Broken Arrow
OK · Bank
The First National Bank and Trust Company of Miami
OK · Bank
The First National Bank at St. James
MN · Bank
The First National Bank in Amboy
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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