CD Calculator
What your CD is worth at maturity.
- 100% free
- No sign-up
- Private — runs in your browser
- Instant results
How a CD grows your money
A certificate of deposit (CD) is a savings product that locks in a fixed interest rate for a set
term — anywhere from a few months to several years. In exchange for leaving the money untouched,
you earn a higher, guaranteed rate than a regular savings account. Interest compounds over the
term, so you earn interest on your interest. This calculator uses
Value = Deposit × (1 + APR ÷ n)^(n × years), where n is how many times
a year the interest compounds.
APR vs. APY
The APR is the stated annual rate. The APY (annual percentage yield) is what you actually earn once compounding is included, so it's always equal to or higher than the APR. Banks usually advertise CDs by APY because it's the larger, true number. This tool shows both: enter the APR and compounding frequency, and it reports the effective APY.
How to use this calculator
- Initial deposit — the amount you put into the CD up front.
- Interest rate (APR) — the bank's stated annual rate.
- Term — how long the money is locked in; switch between months and years.
- Compounding — how often interest is added; daily and monthly are most common.
Things to know before opening a CD
CDs trade flexibility for a guaranteed return. Withdrawing early usually triggers a penalty — often several months of interest — so only deposit money you won't need until maturity. When the term ends, the CD matures and you can withdraw or roll it into a new one. CD rates tend to rise and fall with central-bank rates, so it can pay to shop around.
FAQ
Does this account for early-withdrawal penalties?
No — it shows the full value if you hold the CD to maturity. If you withdraw early, subtract your bank's penalty (commonly 3 to 12 months of interest) from the interest earned.
Why is the APY higher than the rate I entered?
Because compounding adds interest on top of interest during the year. The more often it compounds (daily beats monthly beats annually), the larger the gap between the APR and the APY.
Are CD earnings taxed?
In the US, CD interest is generally taxable as ordinary income in the year it's earned, even before the CD matures. This calculator shows pre-tax figures.