CD Calculator
See what a certificate of deposit will be worth when it matures. Enter your deposit, the APY the bank is offering, and the term, and the calculator shows your maturity value and exactly how much interest you earn.
Because a CD locks in a fixed rate for a fixed term, the result is a precise number rather than a projection — useful for comparing CD offers or a CD against a high-yield savings account.
Value at maturity
$10,450.00
- Deposit
- $10,000
- Interest earned
- $450.00
Calculation Formulas
P is your deposit, APY is the annual percentage yield as a decimal, and t is the term in years (months ÷ 12). Because APY already includes the effect of compounding, this gives an exact maturity value.
Example:
$10,000 at a 5% APY for 24 months → A = 10,000 × 1.05² = $11,025, i.e. $1,025 of interest.
The maturity value minus your original deposit is the interest the CD pays over its term.
Key Figures
| Figure | Value | Description |
|---|---|---|
| APY vs. interest rate | APY includes compounding | APY is the effective annual yield; using it avoids needing the separate compounding schedule. |
| Early-withdrawal penalty | Often 3–12 months interest | Withdrawing before maturity typically forfeits some interest; results assume you hold to maturity. |
Note: Results are estimates for planning purposes. Rates, fees, taxes, and insurance vary by lender and location — confirm exact figures with a licensed professional before making financial decisions.
Standards & Sources
Last verified: July 2026
- Truth in Savings Act (Regulation DD)
Requires banks to disclose APY using a standardized formula, so the APY you enter is directly comparable across CD and savings offers.
- FDIC / NCUA insurance
CDs at insured banks (FDIC) or credit unions (NCUA) are protected up to the applicable limits — a key reason CDs are treated as low-risk savings.
How to Use This Calculator
- Enter your initial deposit amount.
- Enter the APY (annual percentage yield) the bank quotes for the CD.
- Enter the term in months (common terms are 6, 12, 24, and 60 months).
- Read your maturity value and the total interest earned over the term.
Frequently Asked Questions
What is APY on a CD?
APY (annual percentage yield) is the effective annual rate of return including the effect of compounding. Because it already accounts for how often interest compounds, entering the APY gives an accurate maturity value regardless of the compounding schedule.
How is a CD’s maturity value calculated?
Maturity value = deposit × (1 + APY)^(term in years). For example, $10,000 at a 5% APY for 2 years grows to 10,000 × 1.05² = $11,025, for $1,025 of interest.
What happens if I withdraw from a CD early?
Most CDs charge an early-withdrawal penalty — commonly a set number of months of interest — if you take the money out before maturity. This calculator shows the value if you hold to maturity; a penalty would reduce your interest earned.
Is a CD better than a high-yield savings account?
A CD locks in a fixed rate for the term, which is valuable when rates are expected to fall, but your money is committed. A high-yield savings account stays liquid but its rate can change. Compare the CD’s fixed APY here against current savings rates and your need for access.
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