Certificate of Deposit Early Withdrawal Penalty Calculator
Breaking into a CD before maturity usually triggers a penalty equal to a set number of days or months of interest. Use this calculator to see how much you'd lose and what you'd actually receive if you withdraw early.
About this calculator
Estimate the penalty you'll pay for withdrawing money from a certificate of deposit before its maturity date, based on your bank's penalty terms.
Frequently Asked Questions
How is the CD early withdrawal penalty calculated?
Most banks charge a penalty equal to a set number of months of interest on the withdrawn amount, calculated using your APY and the number of penalty days.
Does the penalty ever exceed the interest earned?
Yes, if you withdraw shortly after opening the CD, the penalty can exceed the interest you've earned, resulting in a loss of principal.
Are all CD penalties the same?
No, penalty terms vary by bank and CD term length. Always check your specific CD agreement for exact terms.