Certificate of deposit comparison
CD early-withdrawal versus reinvestment calculator
Compare keeping a CD with withdrawing it, subtracting your disclosed penalty, and reinvesting through the original maturity date.
Compare leaving a certificate of deposit (CD) in place through its original maturity date with withdrawing it now, paying the penalty disclosed by your bank, and placing the proceeds in another account until that same date.
Enter the current balance, remaining term, disclosed penalty amount, and new APY to compare the two estimates.
How the comparison works
Keep: current balance × (1 + current APY)months remaining ÷ 12. Withdraw and reinvest: (current balance − penalty) × (1 + new APY)months remaining ÷ 12. The displayed difference is the reinvestment scenario minus the keep scenario at the original maturity date.
Example: with $10,000, six months remaining, a 4% current APY, a $100 quoted penalty, and a 5% new APY, the model gives about $10,198.04 to keep and $10,144.48 after withdrawing and reinvesting. The higher new APY does not recover the assumed penalty within this six-month period.
The FDIC's Truth in Savings examination guidance says time-account disclosures must state whether an early-withdrawal penalty may apply, how it is calculated, and the conditions for assessing it. It describes different possible forms, including a dollar amount or lost interest. Read your account disclosure and request an exact current withdrawal quote; this tool does not infer a standard penalty. Source checked November 3, 2026: FDIC Consumer Compliance Examination Manual: Truth in Savings.
This estimate assumes the entered APYs remain fixed, monthly timing can be represented as a fraction of a year, the full penalty is deducted from today's balance, and there are no additional deposits, fees, or taxes. It does not model the bank's day-count, crediting, accrued-interest recovery, withdrawal conditions, or new-account terms. The exact penalty and account contract control. This is an educational comparison, not individualized financial advice.
Related savings tools
Estimate a CD's balance if it stays in place with the CD maturity calculator. For other user-entered savings assumptions, see the compound savings planner.
How it works
Enter today's CD balance, current APY, whole months to the original maturity date, the penalty amount from your disclosure or current bank quote, and the new account APY. The calculator compares both modeled values at the same date.
Good to know
Does this calculator assume a standard CD penalty?
No. Enter the penalty amount shown in your account disclosure or confirmed by your bank. Early-withdrawal terms and calculations can differ by account; this tool does not infer one.
How does it compare the two choices?
It projects today's balance at the current APY through the remaining months, then compares that with today's balance minus the entered penalty projected at the new APY for the same period. It uses effective APY growth over a fraction of a year.
Does the estimate include taxes or the bank's exact calculation?
No. It excludes taxes, fees, account-specific day-count and crediting rules, and any penalty amount not entered. Ask the institution for a current withdrawal quote and review the account disclosure.
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