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
TORRINGTON MUNICIPAL AND TEACHERS
CT · Credit union
TOTAL CHOICE
LA · Credit union
TOTAL COMMUNITY
MI · Credit union
Touchmark National Bank
GA · Bank
TOWER
MD · Credit union
Tower Community Bank
TN · Bank
TOWN AND COUNTRY
ND · Credit union
Town Bank, National Association
WI · Bank
Town Center Bank
IL · Bank
TOWN & COUNTRY
ME · Credit union
Town & Country Bank
NE · Bank
Town & Country Bank
MO · Bank
Town & Country Bank
NV · Bank
Town & Country Bank and Trust Company
KY · Bank
Town & Country Bank Midwest
IL · Bank
TowneBank
VA · Bank
TOWN OF CHEEKTOWAGA
NY · Credit union
TOWN OF HEMPSTEAD EMPLOYEES
NY · Credit union
Toyota Financial Savings Bank
NV · Bank
T & P LONGVIEW
TX · Credit union
TPNB Bank
MO · Bank
TRADEMARK
ME · Credit union
TRADES & LABOR
MN · Credit union
Traditional Bank, Inc.
KY · Bank
Tradition Capital Bank
MN · Bank
Traditions Bank
AL · Bank
Traditions First Bank
TN · Bank
TRAILHEAD
OR · Credit union
TRAILNORTH
NY · Credit union
TrailWest Bank
MT · Bank
Transact Bank, National Association
CO · Bank
TRANSCEND
KY · Credit union
TRANSFIGURATION PARISH
NY · Credit union
TRANSIT
NY · Credit union
TRANSIT AUTHORITY DIVISION B
NY · Credit union
TRANSIT EMPLOYEES
MD · Credit union
TRANSIT OPERATIONS
MN · Credit union
TRANSIT WORKERS
PA · Credit union
Transpecos Banks, SSB
TX · Bank
TRANSPORT
FL · Credit union
TRANSPORTATION
VA · Credit union
Transportation Alliance Bank, Inc. d/b/a TAB Bank
UT · Bank
TRANS TEXAS SOUTHWEST
TX · Credit union
TRAVERSE CATHOLIC
MI · Credit union
TRAVIS
CA · Credit union
TRAVIS COUNTY
TX · Credit union
TRAX
FL · Credit union
TREASURY DEPARTMENT
DC · Credit union
TREASURY EMPLOYEES
MS · Credit union
TREMONT
MA · 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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