Calculators

CD Calculator

Calculate a certificate of deposit's value at maturity from the deposit, CD rate and term in months.

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About this tool

A certificate of deposit (CD) pays a fixed rate for a set term, and this CD rate calculator shows what your deposit will be worth when it matures. Enter the deposit, the term in months and the CD rate. Banks usually quote CDs by APY, which already includes compounding, so APY is the default: the balance is deposit × (1 + APY)^(months ÷ 12). If you only have the interest rate, switch the rate type to interest rate and choose how often it compounds (annually to daily); the tool converts it to APY first. The result shows the balance at maturity, the interest earned, the APY and the equivalent rate, and for terms longer than a year a table lists the balance at the end of each 12 months and at maturity. It assumes the interest stays in the CD until maturity, with no early withdrawal penalties or taxes. Calculations run in your browser.

Why use it

  • Matches how CDs are quoted: enter the APY directly, or an interest rate with its compounding.

  • Any term in months, including odd terms such as 7, 13 or 18 months.

  • Yearly balance table for multi-year CDs.

  • Shows the formula and the APY, so you can compare CDs from different banks.

  • No sign-up and no data stored.

How to use

  1. Enter your deposit and the CD term in months (for example 6, 12, 18 or 60).
  2. Enter the CD rate and choose whether it is the APY or the interest rate.
  3. If you chose interest rate, pick the compounding frequency.
  4. Read the balance at maturity, interest earned and the yearly table.

When it helps

  • Comparing CD offers with different terms and rates before opening one.
  • Deciding between a CD and a high-yield savings account.
  • Planning a CD ladder by checking each rung's maturity value.
  • Estimating interest for budgeting or tax planning.

Examples

12-month CD

Input

10,000 at 4.5% APY for 12 months

Expected result

Balance 10,450.00; interest 450.00

18-month CD

Input

10,000 at 4.5% APY for 18 months

Expected result

Balance 10,682.54; interest 682.54

Interest rate with daily compounding

Input

25,000 at a 4.25% interest rate, daily, 60 months

Expected result

APY 4.3413%; balance 30,918.77; interest 5,918.77

Tips

  • Compare CDs by APY and term; a higher rate on a longer term locks your money up for longer.
  • Some CDs pay interest out instead of compounding it; in that case total interest is lower than shown here.
  • Use the APY calculator to convert between an advertised interest rate and APY.

Frequently Asked Questions

How is CD interest calculated?
With an APY, the balance at maturity is deposit × (1 + APY)^(months ÷ 12). 10,000 in a 12-month CD at 4.5% APY grows to 10,450.00, earning 450.00.
Should I enter the APY or the interest rate?
Use the APY if the bank shows one, which is usual for CDs in the US, because it already includes compounding. Enter the interest rate only if that is all you have, and choose its compounding frequency.
How does compounding affect a CD?
More frequent compounding raises the APY for the same interest rate. A 4.25% rate compounded daily is an APY of 4.3413%, so 25,000 for 60 months grows to 30,918.77.
What about terms shorter than a year?
The APY is scaled by months ÷ 12. 5,000 in a 6-month CD at 4% APY grows to 5,099.02.
Does it include early withdrawal penalties or taxes?
No. It assumes you keep the money and interest in the CD until maturity. Penalties for early withdrawal and tax on interest are not included.
Is this financial advice?
No. It is an educational calculator. Check the exact terms with your bank, since rates, compounding and crediting rules vary.

Explore the category

APY Calculator Convert APR to APY (and APY to APR) for any compounding frequency and see what a deposit earns. Compound Interest Calculate compound interest growth FD Calculator Fixed deposit maturity, interest and post-tax yield (India) Savings Goal Calculator Calculate the monthly contribution required to reach a savings goal with compound interest and inflation adjustment. Annuity Calculator Calculate an annuity's future value, present value or payment for ordinary annuities and annuities due. Inflation Calculator Calculate the real value of money over time using historical CPI data — find what a past dollar amount is worth today.

Glossary

Certificate of deposit
A savings product that pays a fixed rate for a fixed term.
Maturity
The date a CD term ends and the deposit plus interest becomes available.
CD ladder
Splitting savings across CDs with staggered maturity dates.
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