CD Calculator — Certificate of Deposit Maturity Value
A Certificate of Deposit (or fixed/term deposit) locks your money away for a set term in exchange for a guaranteed rate — usually higher than a regular savings account. Enter your deposit amount, the APY and the term to see exactly how much interest you'll earn and your balance at maturity.
How to use this tool
- Enter your deposit amount and the CD's advertised APY.
- Enter the term length and choose months or years.
- Pick the compounding frequency the bank uses (check your CD's disclosure — monthly is common).
- Press Calculate to see the exact interest earned and value at maturity.
Frequently asked questions
What's the difference between APY and interest rate?
APY (Annual Percentage Yield) already includes the effect of compounding, while a plain 'interest rate' does not. Two CDs advertising the same rate but different compounding frequencies will have slightly different APYs — always compare APY, not the raw rate, when shopping around.
What happens if I withdraw from a CD early?
Most CDs charge an early withdrawal penalty — commonly a forfeiture of some months of interest (e.g. 3 months for short terms, up to 12 months for longer terms). Read the specific terms before locking in money you might need early; a high-yield savings account may be better if there's a chance you'll need access.
Is a CD better than a savings account?
CDs typically pay a higher rate in exchange for locking up your money for the term — good for money you're certain you won't need until a specific date. A savings account trades some yield for instant access. Many people ladder CDs (staggering maturity dates) to get better rates while keeping some liquidity.
Are CDs insured?
In the US, CDs at FDIC-member banks are insured up to $250,000 per depositor, per bank, per ownership category — among the safest places to put money. Check your specific institution's deposit insurance coverage (FDIC for banks, NCUA for credit unions).