financial instruments , particularly time certificates of deposit issued primarily by banks in the form of a contract between the depositor and the financial depository to typically pay an fixed interest rate for a fixed period of time at which redemption may occur . in the u . s . these contracts are required by truth in savings regulation dd to state at the time of account opening the penalty for early withdrawal . these penalties can not be revised by the depository prior to maturity . the penalty for early withdrawal is the deterrent to allowing depositors to take advantage of subsequent enhanced investment opportunities during the term of the instrument . the withdrawal penalty is usually stated as a number of days / months of lost interest . in certain interest rate environments , this penalty may be insufficient to discourage depositors from redeeming their deposit despite the penalty . at present , if a depositor does redeem , they must purchase a new cd for a fixed term which will tend to lengthen the term of deposit . the present invention overcomes this handicap by formulating a shorter term cd to make up the remainder of the term of the original cd .