Finance tools
CD calculator
Use this free CD calculator to estimate maturity value and interest earned on a certificate of deposit. Enter your opening deposit, the quoted APY, and your term in months or years—you get a growth chart, payment schedule, and optional Compare CDs view for two offers. Export to CSV or PDF; no sign-up. Also called a CD interest rate calculator or certificate of deposit calculator. We assume one deposit, interest stays in the CD, and you hold to maturity. Advanced options cover nominal rates, compounding, and taxes. Educational only—not deposit or tax advice.
What is a certificate of deposit (CD)?
A certificate of deposit (CD) is a bank or credit union savings product with a fixed term: you make one deposit, earn interest at the rate quoted when you open the account, and receive principal plus interest at maturity. Most disclosures show APY (annual percentage yield) so you can compare banks on equal footing.
Deposits at FDIC-member banks and NCUA credit unions are federally insured within limits. Credit unions may label the same product a share certificate. You usually cannot add money after opening, and cashing out early often triggers a penalty—this calculator focuses on holding the CD to maturity.
How to use this CD calculator
Choose Maturity to project one CD, or Compare CDs to line up two offers on the same deposit. Results, the chart, and the schedule update as you type—no submit button.
Enter deposit and APY
In Maturity mode, type your opening deposit and the APY shown on the CD disclosure or rate sheet.
Set the CD term
Choose months or years and enter the term (for example 12 months or 3 years). Term presets include 3, 6, 12, and 18 months and 5 years.
Read maturity balance and interest
Check total interest, maturity balance, the growth chart, and schedule. Switch to Compare CDs to weigh two APY offers, or export a CSV/PDF summary.
Maturity projection
Enter deposit, APY %, and term (months or years). Heroes show maturity balance, total interest, and effective APY.
Compare two CDs
Enter APY and term for CD A and CD B on the same deposit—see the interest difference, dual chart, and side-by-side schedule.
Presets & Advanced
Term chips (3–18 mo, 5 yr) and APY presets, plus optional nominal rate, compounding, tax, and monthly schedule.
CSV/PDF export
Download inputs and headline results for spreadsheets or sharing—no account required.
Related tools: APY calculator (HYSA and contributions), compound interest calculator (ongoing deposits), inflation calculator (purchasing power), and savings bond calculator (Treasury products).
What we assume
- Single deposit at opening (no monthly additions)
- Quoted APY held for the full term unless you use Advanced nominal-rate mode
- Hold to maturity—no early withdrawal penalty in the math
CD interest formula
When your bank quotes APY, use it directly—the number already reflects how often interest compounds. The calculator applies that APY across the full term you enter (after converting months to years). If you only see a stated interest rate plus a compounding frequency, open Advanced and we derive APY and maturity for you.
APY maturity formula
Convert your term to years (12 months = 1 year; 6 months = 0.5; 18 months = 1.5).
Maturity = Deposit × (1 + APY)yearsInterest earned = maturity balance − deposit.
Worked example: $10,000 at 4% APY for 1 year → $10,000 × 1.04 = $10,400 ($400 interest).
Nominal rate path: Maturity = Deposit × (1 + r ÷ n)n × years where r is the annual nominal rate (decimal) and n is compounding periods per year (365 daily, 12 monthly).
APY vs interest rate on CDs
APY (annual percentage yield) is the effective yearly return after compounding. A stated interest rate without APY may compound daily, monthly, or quarterly and produce a slightly different payoff at maturity.
Same nominal rate, different compounding (illustrative on $10,000 for one year):
- 5% nominal, daily → about 5.13% APY
- 5% nominal, monthly → about 5.12% APY
- 5% nominal, annually → 5.00% APY
Shop CDs using APY when both banks publish it. For high-yield savings, contributions, or rate conversion, use our APY calculator.
How much does $10,000 earn in a CD?
The amounts below match this calculator’s math for a $10,000 deposit (quoted APY, held to maturity)—common questions from search and bank rate pages:
- 4% APY, 1 year → about $400 interest ($10,400 maturity)
- 4% APY, 6 months → about $197 interest ($10,197 maturity)
- 4.5% APY, 12 months → about $450 interest ($10,450 maturity)
- 5% APY, 3 years → about $1,576 interest ($11,576 maturity)
Change deposit, APY, or term in the calculator above for your scenario—or use Compare CDs to test two bank offers.
Common CD terms
You will often see 3, 6, 12, and 18-month CDs, plus terms up to 60 months (5 years). Shorter CDs mature sooner (you can reinvest or spend—still watch early withdrawal rules). Longer CDs lock today’s quoted APY for more years.
- 3–6 months — short lock-in; useful when rates may change soon
- 12–18 months — common “sweet spot” for rate shopping
- 36–60 months — longer rate lock; less flexibility if market yields rise
Tap 3 mo / 6 mo / 12 mo / 18 mo / 5 yr presets in the calculator, or enter any term in months or years.
FDIC and NCUA insurance
Bank CDs are covered by FDIC insurance; credit union share certificates by NCUA coverage—typically up to $250,000 per depositor, per insured institution for each account ownership category.
Coverage rules and limits can change; confirm with your institution. Overview: FDIC deposit insurance · Investor.gov — bank products (external).
CDs vs savings accounts
CDs and savings accounts both hold cash at insured institutions, but they solve different jobs. A certificate of deposit locks your rate for a fixed term; a high-yield savings account (HYSA) stays liquid but the bank can change the APY when market rates move.
Quick comparison:
- CD — one opening deposit, fixed term, early withdrawal penalty; rate usually fixed until maturity
- HYSA — add or withdraw (within limits), variable APY, no maturity date
- Money market account — similar liquidity to savings; some offer checks or debit access (product rules vary)
Use this page for CD maturity math. For HYSA growth with optional monthly contributions, try the APY calculator or compound interest calculator. Flat-rate illustrations (no compounding) belong on the simple interest calculator. CDs use compound growth and APY.
Early withdrawal penalties
Closing a CD before maturity usually triggers an early withdrawal penalty. Penalties vary by bank and term—often a number of months of interest on the amount withdrawn, and sometimes a minimum fee. Read the account agreement before you fund the CD.
Illustrative pattern (not your bank’s exact rule): a 12-month CD might charge 3 months of interest if you cash out early. On a $10,000 CD that earned $400 in interest over the full year, three months of interest might be roughly $100—reducing what you keep if you break the CD mid-term.
This calculator models hold-to-maturity growth only. Keep an emergency fund in a liquid account if you might need cash before the CD matures.
CDs and inflation
A CD pays a fixed nominal return if you hold to maturity. Inflation tracks how fast prices rise. When inflation runs higher than your after-tax CD yield, purchasing power on that cash can fall even though the dollar balance grows.
Example (illustrative): $10,000 at 4% APY for one year grows to about $10,400 in dollars. If prices rose about 3% over the same year, you would need roughly $10,300 to buy what $10,000 bought at the start—so purchasing power gained less than the full $400 interest figure.
Estimate purchasing power with our inflation calculator. CDs are for cash goals, not long-term stock-market growth.
When a CD makes sense in 2026
A CD can work well for money with a known spending date—a down payment, tuition bill, or other planned expense—when you want the bank’s quoted yield fixed for the whole term and you have other cash for emergencies.
Rates change over time; we do not list live offers on this page. Gather APY and term details from banks or credit unions you trust, then run them here. Weigh taxes, inflation, and penalties against your liquidity needs. This is general education, not a recommendation for your situation.
More free tools
Discover more calculators for time tracking, payroll, and HR.
Frequently asked questions about this CD interest rate calculator
How do you calculate CD interest?
Multiply your deposit by (1 + r)t, where r is APY as a decimal (4% → 0.04) and t is the term in years (6 months = 0.5). Interest = maturity balance − deposit.
Enter deposit, APY, and term in the calculator above—maturity value and interest update as you type.
What is the formula for CD interest?
For APY-quoted CDs: maturity = deposit × (1 + r)t, with r = APY as a decimal and t = years. Same as FV = P(1 + r)t in finance notation.
If you have a nominal annual rate and compounding frequency instead of APY, use Advanced in the calculator.
How much does $10,000 make in a 1-year CD at 4% APY?
About $400 in interest ($10,400 at maturity). Banks may credit interest on their own schedule; this tool applies the quoted APY for the full term.
How much does $10,000 make in 6 months at 4% APY?
About $197 in interest ($10,197 at maturity), using t = 0.5 years in the APY formula.
How much CD interest per month on $10,000?
Many CDs keep interest in the account until maturity rather than paying it to checking each month.
For a quick estimate, divide total interest by the number of months (for example $400 ÷ 12 ≈ $33 per month on a 1-year, 4% APY, $10,000 CD). Open the schedule in the calculator for period-by-period detail.
Is APY the same as the CD interest rate?
APY reflects compounding over a year. A nominal interest rate may compound daily or monthly and produce a slightly different payoff. U.S. banks usually quote APY on CDs so you can compare offers.
How often do CDs compound interest?
Many banks compound daily or monthly and publish APY so you can compare yields directly. Use Advanced if you only have a nominal rate and compounding frequency.
Are CDs FDIC insured?
Deposits at FDIC-member banks are insured up to $250,000 per depositor, per insured institution (per ownership category). Credit unions use NCUA insurance with similar limits.
What happens if I withdraw from a CD early?
You usually owe an early withdrawal penalty, often measured in months of interest. This calculator assumes you hold the CD to maturity with no penalty.
How does a CD compare to a high-yield savings account?
A CD locks your APY for a set term; a high-yield savings account lets you withdraw but the rate can change. For HYSA growth with optional monthly deposits, use our APY calculator.
Can I add money to a CD after opening?
Most CDs take one opening deposit. Some banks offer bump-up or add-on products; this calculator models a single deposit only.
What is a CD ladder?
A CD ladder spreads cash across CDs with different maturity dates so you can access money on a rolling schedule and reinvest when rates change. To compare two specific offers today, use Compare CDs mode.
Are CDs worth it in 2026?
They can be worth considering when you have a fixed timeline, will not need the cash early, and want the quoted yield for the full term. Compare APY, penalties, taxes, and inflation for your situation—this is general information, not advice.
What is a good CD interest rate?
A competitive rate depends on the term you choose, the institution, and how savings and Treasury yields look when you shop.
Compare APY (not nominal rate alone), read early-withdrawal rules, and stay within insurance limits. Enter two offers in Compare CDs to see the dollar difference on your deposit.
What is a certificate of deposit (CD)?
A certificate of deposit (CD) is a savings product with a fixed term: you deposit once, earn interest at the quoted rate (usually shown as APY), and withdraw principal plus interest at maturity.
Credit unions often call the same product a share certificate. This calculator estimates maturity value and interest for a single deposit held to term.
Does this calculator include taxes?
You can add an optional marginal tax rate in Advanced for a simplified after-tax estimate at maturity. It is not built for IRA-specific rules—ask a tax professional for personal guidance.
CD calculator vs compound interest calculator?
Use this page for one deposit and a fixed CD term. For ongoing contributions or long-horizon growth, try our compound interest calculator.
How do I compare two CD rates or APY offers?
Select Compare CDs, enter the same deposit with APY and term for each bank offer, and review the interest difference, chart, and schedule side by side.