CD Calculator
How a CD calculator works
A certificate of deposit (CD) pays a fixed rate if you leave your money in for a set term. The APY already includes compounding, so this calculator grows your deposit by the APY for the fraction of a year you choose. It shows your balance at maturity and the interest earned.
Example
A $10,000 deposit at 4.5% APY for 12 months grows to $10,450, so you earn $450. Over 60 months at 4% APY, the same deposit grows to about $12,167.
Things to check before you open a CD
Early withdrawal usually costs a penalty, often several months of interest. Compare APYs across banks and credit unions, and confirm that the account is FDIC or NCUA insured. Interest from a CD is generally taxable in the year you earn it.
Frequently asked questions
What is the difference between APY and interest rate?
APY includes the effect of compounding, so it shows the real yearly return. The plain interest rate does not. Use the APY in this calculator.
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Estimates for education only, not financial advice.