CD (Certificate of Deposit) Calculator
Estimate CD interest earned and ending balance at maturity with common compounding options. It’s useful for comparing APYs, terms, and compounding frequencies when deciding between savings options.
Inputs
$
%
Maturity value
Ending balance
$10,939.90
Interest earned$939.90
Term (years)2
Growth table
| Year | Balance | Interest earned |
|---|---|---|
| 1 | $10,459.40 | $459.40 |
| 2 | $10,939.90 | $939.90 |
How to use it
- Enter the initial deposit.
- Enter APY (or interest rate) and select a term length.
- Pick a compounding frequency (monthly is common).
- Review interest earned and maturity value.
Key formulas
- Compound growth (no contributions)
- FV = P × (1 + r/n)^(n×t)
- r = annual rate, n = compounds/year, t = years.
FAQ
APY already accounts for compounding over a year. If you have an APY, use it as your annual rate and keep compounding consistent with how the bank quotes the product.
More frequent compounding (monthly vs quarterly) slightly increases the ending balance when rates are positive. The difference is usually small compared to the impact of APY and term length.
Many CDs charge an early withdrawal penalty (often a number of months of interest). The penalty can reduce or even eliminate interest earned, depending on the terms.
Bank CDs are often FDIC insured up to applicable limits per depositor, per bank, per ownership category. Check your institution and account type to confirm coverage.
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Disclaimer
This is an estimate. Bank products, compounding, and penalties vary. Not financial advice.