CD calculator.
Use this free CD calculator to find the maturity value, total interest, and effective APY of a certificate of deposit — and compare what the same deposit would earn across common term lengths.
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Results update automatically as you type. No account is required.
Enter your CD details
Your deposit
How much you put in and the rate it earns. CDs take a single deposit at opening.
Term & compounding
How long the CD runs and how often interest is added.
A $10,000 CD at 4.5% compounded daily for 1 yr matures at $10,460 — $460 interest, an effective APY of 4.6%.
| Term | Maturity | Interest |
|---|---|---|
| 6 mo | $10,228 | $228 |
| 1 yr | $10,460 | $460 |
| 2 yr | $10,942 | $942 |
| 3 yr | $11,445 | $1,445 |
| 5 yr | $12,523 | $2,523 |
Balance growth
How the deposit compounds to maturity.
Amortization schedule
Every payment split into principal and interest, with your balance falling to zero. Switch between the month-by-month view and a yearly summary.
| Month | Interest | Balance |
|---|---|---|
| 1 | $37.57 | $10,037.57 |
| 2 | $37.71 | $10,075.28 |
| 3 | $37.85 | $10,113.13 |
| 4 | $37.99 | $10,151.12 |
| 5 | $38.14 | $10,189.26 |
| 6 | $38.28 | $10,227.54 |
| 7 | $38.42 | $10,265.96 |
| 8 | $38.57 | $10,304.53 |
| 9 | $38.71 | $10,343.24 |
| 10 | $38.86 | $10,382.10 |
| 11 | $39.00 | $10,421.10 |
| 12 | $39.15 | $10,460.25 |
About the CD Calculator
A certificate of deposit (CD) locks a single deposit for a fixed term at a fixed rate, paying interest that compounds until maturity. This calculator shows the maturity value, the total interest earned, and the effective APY for any deposit, rate, compounding frequency, and term — and compares what the same deposit would earn across common term lengths so you can shop with confidence.
Rate vs. APY
The nominal rate is the stated annual rate; the APY (annual percentage yield) is what you actually earn once compounding is included, and it is always equal to or higher than the nominal rate. Banks usually advertise CDs in APY, which makes it the fairest figure for comparing offers — especially when two CDs share a headline rate but compound differently.
How compounding and term affect returns
More frequent compounding (daily versus annual) nudges the return up at the same nominal rate, because interest starts earning sooner. Term length matters more: a longer CD gives compounding more time to build, which is why the maturity-by-term comparison usually rises steeply from one year to five. Banks also tend to pay higher rates on longer commitments.
Taxes, penalties, and safety
CD interest is generally taxable as ordinary income unless the CD sits inside an IRA or Roth IRA; entering a tax rate shows what you keep. Withdrawing before maturity usually triggers an early-withdrawal penalty — often several months of interest — so only commit money you will not need. CDs at FDIC-insured banks (or NCUA-insured credit unions) are protected up to the applicable limit, making them one of the lowest-risk ways to save.
Important disclaimer
⚠ Disclaimer: This CD calculator is for general education and planning only and is not financial advice. It estimates gross maturity value from one opening deposit and does not include early-withdrawal penalties, promotional terms, or bank-specific day-count methods. Tax figures are a simplified estimate. Confirm exact terms with the issuing bank or credit union.
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CD Calculator FAQ
How is a CD’s maturity value calculated?
The deposit grows by the rate, compounded at the chosen frequency, for the full term: maturity = deposit × (1 + rate ÷ n)^(n × years), where n is the number of compounding periods per year. The interest earned is the maturity value minus your deposit.
What is the difference between the rate and APY?
The nominal rate is the stated annual rate; APY is the effective yield once compounding is added. APY is equal to or higher than the nominal rate and is the best number for comparing CD offers.
Does compounding frequency change my return much?
Only slightly at the same nominal rate — daily compounding beats annual by a small margin. Term length and the rate itself have a far bigger effect on the maturity value.
Is CD interest taxable?
Yes, generally as ordinary income in the year it is earned, unless the CD is held in a tax-advantaged account like an IRA or Roth IRA. Enter your tax rate to see the after-tax interest you keep.
What happens if I withdraw before maturity?
Most CDs charge an early-withdrawal penalty, commonly several months of interest, which can erase earnings and sometimes touch principal. This calculator shows the full-term result, so plan to leave the money until maturity.
Are CDs safe?
CDs from FDIC-insured banks are protected up to the applicable limit (NCUA for credit unions), making them very low risk. The main trade-off is limited access to your money until the term ends.
Is this CD calculator free?
Yes. It is free, requires no sign-up, and runs entirely in your browser.