Savings
CD Calculator
Estimate the maturity value and interest earned on a certificate of deposit based on the rate, term, and compounding.
Enter a deposit, rate, and term to see what a CD grows to at maturity and the effective annual yield behind the headline rate.
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Example
A $10,000 CD at 4.5% compounded monthly for two years grows to roughly $10,940 at maturity.
Results
Value at maturity
$10,940
Interest earned
$940
Effective APY
4.6%
Projection
Distribution view
Milestones
Decision cues
Breakdown
Cost mix
Result reading
The visual trend is moving up, with an approximate change of $481 across the period shown.
Planning cue
Use the output as a scenario test rather than a promise. Small input changes can materially change the result.
Assumes the CD is held to maturity at a fixed rate. Early withdrawal penalties are not modeled.
How it works
What the result is showing you
These sections explain what the calculator measures, which assumptions matter most, and where the number can be misleading.
How a CD grows
A certificate of deposit pays a fixed rate for a set term. Interest compounds on a schedule, often monthly or daily, so the effective annual yield is slightly higher than the stated rate. At maturity you get your deposit back plus the interest.
Rate, APY, and the lock-up tradeoff
The APY reflects compounding and is the fairer number to compare across banks. In exchange for a fixed rate, your money is locked for the term, and withdrawing early usually triggers a penalty.
Where a CD fits
CDs suit money you will not need until a known date and want kept safe and predictable. For an emergency fund you may want easier access, and for long-term growth, investing has historically outpaced CD rates.
FAQ
Frequently asked questions
Quick answers to the questions people ask most about this calculator.
What is the difference between rate and APY?
The interest rate is the base figure, while APY (annual percentage yield) includes the effect of compounding over a year. APY is the better number for comparing CDs across banks.
What happens if I withdraw early?
Most CDs charge an early-withdrawal penalty, often several months of interest, if you take the money out before the term ends. This calculator assumes you hold the CD to maturity.
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