How does one calculate early withdrawal penalty on CD's ?

Answer 1

Call the lender and see what rules they have . All are different and if you leave the money with the bank and roll it over into another kind of instrument they sometimes will forego the penalty . Call and check .

Answer 2

Actually it is even easier. Call the bank and ask them to evaluate what the early withdrawal penalty is. Your bank should be able to tell you exactly what they would penalize. Standard penalties range from 90 to 180 days of interest calculated on the amount you plan to withdraw, usually tied to length of the CD.