How is a CD early withdrawal penalty calculated?

Penalty = P × r × (penalty months ÷ 12), where P is the principal, r is the CD's nominal rate as a decimal, and the penalty months come from your disclosure. It is simple interest on the full principal, not on the interest you happened to earn, and it does not shrink because you left near the end of the term. Take $25,000 in a five-year CD at 4.00%, closed after 18 months with a six-month penalty: 25,000 × 0.04 × 0.5 gives $500.00. You had earned $1,545.83, so you keep $1,045.83 of it and walk away with $26,045.83. Typical schedules run around three months of interest on terms under a year, six months on one-to-three-year terms, and nine to twelve months beyond that — but a minority of institutions charge a flat fee or a percentage of principal instead.

Can you lose money by withdrawing from a CD early?

Yes. Federal rules permit an early withdrawal penalty to reduce principal, so if you close the CD before it has earned enough interest to cover the penalty, you get back less than you deposited. This is the one circumstance in which an insured CD loses money. The risk is highest early in the term and on long CDs with heavy penalty schedules, because the penalty is calculated on the full principal regardless of how little time has passed. Take $10,000 at 4.50% with a six-month penalty, closed after six months: you have earned $227.54 and the penalty is $225.00, leaving $10,002.54 — essentially break-even, and closing a few weeks earlier would have put you underwater. Run the numbers before you commit rather than after, because the shortfall is entirely predictable from the disclosure.

Is it ever worth paying the CD penalty?

Sometimes, and the test is arithmetic rather than instinct. Breaking early makes sense when the interest you would earn elsewhere over the remaining term exceeds the penalty plus the interest you forfeit. Rates having risen sharply since you opened is the usual trigger. Take $25,000 in a five-year CD at 4.00%, closed at 18 months: the penalty is $500.00 and you keep $26,045.83. If you can reinvest that at a materially higher rate for the remaining 42 months, the switch can pay for itself well inside the term. The other legitimate reason is need — an emergency where the penalty is simply the cost of access. What does not justify it is a small rate improvement, since the penalty is charged on the full principal and is often larger than a year of the difference.

Are CD early withdrawal penalties tax deductible?

Generally yes. An early withdrawal penalty is reported separately by your bank on Form 1099-INT and can usually be deducted as an adjustment to income, which means you do not need to itemise to claim it. The mechanism matters: you are still taxed on the full interest credited, then the penalty is subtracted separately, rather than the two being netted before they reach you. So on a $25,000 CD at 4.00% closed after 18 months, you report the $1,545.83 of interest as income and claim the $500.00 penalty as the adjustment. The deduction can exceed the interest earned in the same year, which is what makes it useful in exactly the case where the penalty ate into principal. This is general information rather than tax advice — confirm the treatment for your circumstances with a professional.

CD Early Withdrawal Penalty Calculator

CD를 중도에 해지하면 얼마를 잃는지 정확히 확인하십시오.

Find out exactly what breaking your CD early costs — and whether the penalty eats into your principal.

부과된 수수료: −US$500.00
실수령액: US$26,045.83

예금증서와 중도해지

최초 예치금

이자율

최초 기간

개월

5 년

해지 시점(개월)

개월

1 년 6 개월 into a 5 년 term

해지 수수료 (이자 개월 수)

복리 주기

현재까지 이자: US$1,545.83
부과된 수수료: −US$500.00
실수령액: US$26,045.83

Your principal is safe. After the US$500.00 penalty you still keep US$1,045.83 of interest, walking away with US$26,045.83.

What you give up by leaving early

Held to maturity (5 년)US$5,534.73

Withdrawn at month 18, after penaltyUS$1,045.83

Leaving early costs you US$4,488.91 in interest you would otherwise have earned.

Penalty modelled as N months of simple interest on principal — the most common bank structure. Check your disclosure: some banks charge a flat fee or a percentage of principal instead.

무료 — 가입 불필요
입력 즉시 반영
브라우저에서 실행

공식과 내용 최종 검토일 2026년 7월 21일. 은행 금리는 자주 바뀝니다. 현재 금리는 거래 기관에 직접 확인하십시오.

짧은 답변

CD 중도해지 수수료는 어떻게 계산하나요?

A CD early withdrawal penalty is normally quoted as a number of months of interest — commonly around 3 months on terms under a year and 6 to 12 months on longer terms — and computed as Penalty = P × r × (penalty months ÷ 12). Take $25,000 in a 5-year CD at 4.00%, closed after 18 months: you have earned $1,545.83, the 6-month penalty is $500.00, and you walk away with $26,045.83. The figure to watch is the relationship between those first two numbers. Federal rules permit the penalty to reduce principal, so closing early enough that the penalty exceeds the interest earned returns less than you deposited — the one scenario in which an insured CD loses money. Penalty structures vary: a minority of institutions charge a flat fee or a percentage of principal instead, so check your disclosure.

공식과 방법

계산 방법

Penalty = P × r × (penalty months ÷ 12)

Penalties are charged as simple interest on the principal, not on the accrued balance.

P: Principal — your original deposit
r: The CD's annual rate as a decimal
penalty months: Months of interest forfeited, from your disclosure

단계별 계산

1
Find the penalty in your CD disclosure, stated as N months of interest.
2
Multiply your principal by the annual rate to get a full year of interest.
3
Multiply by penalty months ÷ 12 to scale it to the penalty period.
4
Calculate the interest actually earned up to the withdrawal date.
5
Subtract the penalty from that interest. A negative result means the shortfall is taken from your principal.

가이드

이 계산기 사용법

네 가지 값만 넣으면 결과가 바로 나옵니다. 제출할 것도, 가입할 것도 없습니다.

1
Enter the CD's details
Deposit, rate and the original term — the same values from when you opened the account.
2
Set when you would withdraw
Drag the withdrawal month. The tool computes interest earned to that point and applies the penalty against it.
3
Enter the penalty in months
Take this from your disclosure. Three months is typical for short terms, six to twelve for multi-year CDs.
4
Check the warning
If the penalty exceeds interest earned, the tool flags that your principal will be reduced — you would get back less than you deposited.

예시

계산 예시

실제 숫자로 끝까지 풀어 본 예시입니다. 직접 넣으신 값과 대조해 계산기가 맞는지 확인해 보십시오.

Breaking a 5-year CD at month 18

Deposit: $25,000
Rate: 4.00%
Original term: 60 months
Withdraw at: Month 18
Penalty: 6 months of interest

Interest earned: $1,545.83
Penalty charged: −$500.00
Net proceeds: $26,045.83

You keep $1,045.83 of interest. Painful, but principal is untouched because 18 months of accrual exceeded the 6-month penalty.

Breaking the same CD at month 3

Withdraw at: Month 3
Penalty: 6 months of interest

Interest earned: $251.24
Penalty charged: −$500.00
Net proceeds: $24,751.24

Here the penalty is larger than the interest earned, so $248.76 comes straight out of the $25,000 principal.

계산 방법

정확성과 가정

모든 계산기는 어떤 가정 위에서 움직입니다. 이 숫자가 무엇을 반영하고 무엇을 반영하지 않는지 그대로 밝혀 둡니다.

The penalty is quoted as months of simple interest on the principal — the most common structure, but some banks use a flat fee or a percentage of principal instead.
The bank permits early withdrawal at all. Some CDs are non-negotiable before maturity.
No partial withdrawal is modelled; the calculation assumes closing the full CD.
Grace periods after maturity, during which you can withdraw penalty-free, are not included.

계산 관행은 미국 금융기관이 예금 계좌의 APY를 공시하는 방식을 규정한 Regulation DD(12 CFR 1030)를 따릅니다. 예금자보호 대상 기관의 예금은 예금자별, 은행별, 소유 형태별로 $250,000까지 FDIC의 보호를 받습니다.

1차 자료

이 규칙은 어디에서 왔나

이 계산기가 따르는 관행은 저희가 아니라 규제 기관이 정합니다. 각 항목은 해당 기관으로 연결되므로 저희 말을 믿는 대신 직접 확인하실 수 있습니다.

세부 사항

핵심 내용과 규칙

CD에 가입하거나 재예치하기 전에 알아 둘 만한 사실을 한눈에 정리했습니다.

Federal rules permit the penalty to reduce principal — 'you can lose money on a CD' is only true in this scenario.
Typical schedule: terms under 12 months carry about 3 months of interest; 1–3 years around 6 months; 4+ years 9 to 12 months.
No-penalty (liquid) CDs exist and let you withdraw after the first week, usually at a lower rate.
Penalties are deductible on your federal return as an adjustment to income — they appear in Box 2 of Form 1099-INT.
If a higher rate is available elsewhere, breaking a CD can still be net-positive. Compare the penalty against the extra interest from switching.

서로의 관계

이 계산기가 필요한 분

Savers who need cash early
An unexpected expense has come up and you need to know the real cost of accessing the money.
Rate switchers
Rates have risen since you locked in and you want to know if breaking out is worth it.
Pre-purchase researchers
You are comparing CD terms and want to price the downside before you commit.

모든 CD 계산기

정기예금(CD)의 모든 측면을 다루는 아홉 개의 계산기입니다.

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