CD early withdrawal penalty calculator
Most banks charge a penalty of several months' interest for withdrawing a CD before maturity — commonly 3 months for terms under a year and 6–12 months for longer terms.
Interest earned so far: $297.79
Early withdrawal penalty: $225.00
You would walk away with: $10,072.79
Uses the most common penalty formula (N months of simple interest on the amount withdrawn). Check your CD agreement — banks define penalties differently, and some charge a minimum fee.
Informational estimate using the most common penalty formula. Your CD agreement controls the actual penalty — some banks use different formulas or minimum fees.