CD calculator
What a certificate of deposit is worth at maturity, and what breaking it early costs.
CD calculator
What a certificate of deposit is worth at maturity, and what breaking it early costs.
$10,425.00
At maturity
$425.00
Interest earned
$104.23
Penalty for breaking it early (about)
A CD pays a fixed rate for a fixed term; the price is that the money is locked in. A ladder (several CDs maturing a few months apart) keeps some of it reachable. Penalties differ by bank and can eat into the deposit itself if you break a CD very early.
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