Understand the cost of an early exit

CD early withdrawal penalty calculator

Use your CD agreement or bank quote to estimate a full withdrawal. See the penalty, remaining payout and whether the charge would reduce your original principal.

Estimated full-withdrawal payout(Example)

$9,976.71

View result

Your assumptions

How your contract states the penalty

Day-count basis for daily estimates

Full withdrawal only. Principal: $0.01–$1 billion; earned interest and quoted penalty: $0–$1 billion; nominal rate: 0–100%. Enter whole days or months. Bank rules are not inferred.

Estimated full-withdrawal payout

$9,976.71

Example only — edit inputs for your own estimate

Estimated penalty: $123.29
Interest after penalty: -$23.29
Principal lost to penalty: $23.29
Additional simple interest forgone: $246.58
Simple-interest estimate if held: $10,346.58
Penalty + additional interest forgone: $369.86

The hold comparison adds simple interest on principal for the remaining days. It is not a compound-interest bank quote and assumes no reinvestment after exit.

Full withdrawal; penalty uses principal × nominal rate × days/day basis, principal × nominal rate × months/12, or your bank quote. Excludes taxes and other fees. Confirm the actual payout with your bank.

Amounts display to cents. Calculations and CSV retain full precision, so rounded rows may differ by a cent. All amounts are USD.

Your inputs stay in this page. Calculator inputs are not sent to analytics or stored in the URL.

Read the calculation method

How the early-withdrawal estimate works

Bank contracts differ. Use actual interest earned and the contractual penalty; a quoted dollar penalty is preferable when the agreement uses a different formula.

Penalty units and nominal annual rate

Days: penalty = P × r × days / basis; months: penalty = P × r × months / 12

Here r is the nominal annual interest rate divided by 100, not APY. Choose a 365- or 360-day basis only if it matches your contract. A quoted-dollar penalty is used directly. We do not select a bank policy automatically, cap penalties at earned interest or assume partial withdrawals are allowed.

Ally: CD terms and early-withdrawal penalties

Payout and principal reduction

Payout is principal plus actual earned interest minus penalty. When penalty exceeds earned interest, the difference reduces principal. A penalty exceeding the entire balance is rejected so you can confirm the contract. Real bank settlement can differ because of rounding, credited interest, waived penalties or other contract terms.

A deliberately simple hold comparison

The hold estimate adds simple interest on original principal over the remaining days using the selected day basis. It excludes future compounding, reinvestment, tax effects, fees and changes in contract rates. Cost of exit here is the penalty plus that simple foregone interest, not a recommendation to withdraw or hold.

Common questions

Can an early-withdrawal penalty reduce principal?

Yes, depending on the contract. If the penalty is greater than the actual interest earned, this estimate shows the shortfall as principal reduction. Confirm the payout with your bank.

Does this price a brokered CD sale?

No. Brokered CDs sold before maturity can have market-price gains or losses and commissions. This calculator models a contractual full withdrawal, not a secondary-market sale.

Methodology