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 State Bank of Faribault
MN · Bank
The State Bank of Geneva
IL · Bank
The State Bank of Pearl City
IL · Bank
The State Bank of Toledo
IA · Bank
The State Bank of Wynnewood
OK · Bank
The State Exchange Bank
OK · Bank
The State Exchange Bank
KS · Bank
The State National Bank of Big Spring
TX · Bank
The State Savings Bank of Manistique
MI · Bank
The Stephenson National Bank and Trust
WI · Bank
The St. Henry Bank
OH · Bank
The Stock Exchange Bank, Caldwell, Kansas
KS · Bank
The Stockgrowers State Bank
KS · Bank
The Stockgrowers State Bank of Ashland, Kansas
KS · Bank
THE SUMMIT
NY · Credit union
The Torrington Savings Bank
CT · Bank
The Tri-County Bank
NE · Bank
The Trust Bank
GA · Bank
The Turbotville National Bank
PA · Bank
The Twin Valley Bank
OH · Bank
The Union Bank
ND · Bank
The Union Bank Company
OH · Bank
The Union Banking Company
OH · Bank
The Union State Bank of Everest
KS · Bank
THE UNITED
WV · Credit union
The Upstate National Bank
NY · Bank
The Valley State Bank
KS · Bank
The Village Bank
MA · Bank
THE VINTON COUNTY NATIONAL BANK
OH · Bank
The Waggoner National Bank of Vernon
TX · Bank
The Walton State Bank
KS · Bank
The Wanda State Bank
MN · Bank
The Warrington Bank
FL · Bank
The Washington Trust Company, of Westerly
RI · Bank
The Waterford Commercial and Savings Bank
OH · Bank
The Watkins Savings Bank
IA · Bank
THE WAY
OH · Credit union
The Western State Bank
KS · Bank
THE WEST TENNESSEE
TN · Credit union
The Wilmington Savings Bank
OH · Bank
THE WRIGHT
GA · Credit union
The Yellowstone Bank
MT · Bank
The Yoakum National Bank
TX · Bank
Think Mutual Bank
MN · Bank
THINKWISE
CA · Credit union
THIOKOL ELKTON
MD · Credit union
Third Coast Bank
TX · Bank
Third Federal Savings and Loan Association of Cleveland
OH · Bank
Thomaston Savings Bank
CT · Bank
Thomasville National Bank
GA · 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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