🏦 CD Calculator
See exactly how much a certificate of deposit will be worth at maturity, and how much of that is interest — so you can compare CD offers and other safe savings at a glance.
How a CD earns interest
A certificate of deposit locks up a fixed amount for a fixed term at a fixed rate. In return you typically get a higher, guaranteed rate than a regular savings account. Because banks quote CDs as an APY — annual percentage yield, which already bakes in compounding — the maturity value is simply your deposit growing at that yield for the length of the term.
When a CD makes sense
CDs shine for money you won't need until a known date and want to keep completely safe: a house deposit two years out, an emergency backstop, or cash you're parking while rates are high. The trade-off is access — pull the money out early and you'll usually pay an early-withdrawal penalty of several months' interest.
Getting the best CD deal
- Shop online banks and credit unions — they often pay noticeably higher APYs than big brick-and-mortar banks.
- Consider a CD ladder: split money across several terms so a portion matures regularly, balancing rate and access.
- Check the penalty before committing, and confirm the CD is FDIC- or NCUA-insured (it almost always is, up to the limits).
- Compare to high-yield savings: if rates are similar, a savings account keeps your money accessible.
Frequently asked questions
How much will my CD be worth at maturity?
Enter your deposit, the APY and the term. Because CDs are quoted in APY (which includes compounding), the calculator grows your deposit at that yield over the term and shows both the interest earned and the total maturity value.
What's the difference between APY and interest rate?
The interest rate is the base rate; APY (annual percentage yield) reflects the effect of compounding and is always equal to or higher than the stated rate. Comparing CDs by APY is the fair, apples-to-apples way.
Can I withdraw from a CD early?
Usually yes, but you'll typically pay an early-withdrawal penalty of a few months' interest. Only put money in a CD if you're confident you can leave it until maturity.
Are CDs safe?
CDs at FDIC-insured banks or NCUA-insured credit unions are protected up to the applicable limits, making them one of the safest places to earn a fixed return.
These calculators provide general estimates for educational purposes and do not constitute financial, tax, or legal advice. Figures are approximate; verify with a qualified professional and your lender before making decisions.