CD Calculator
Calculate certificate of deposit growth to maturity with any compounding frequency — interest earned and effective APY.
Everyday Uses
Comparing bank offers
Banks quote rates with different compounding — compare on effective APY and maturity value, not the headline number.
Goal-dated savings
Money needed in exactly 18 months? See what a CD guarantees versus leaving it in savings.
Building a CD ladder
Model each rung's maturity value when spreading savings across staggered terms.
Lock-up decisions
The early-withdrawal warning is the point: see what you gain locking money away — then decide if you can.
Frequently Asked Questions
What is a certificate of deposit (CD)?
A CD (called a fixed or term deposit in many countries) locks your money with a bank for a fixed term — commonly 3 months to 5 years — in exchange for a guaranteed interest rate, usually higher than a regular savings account. In the US, CDs at insured banks are FDIC-protected up to the coverage limit.
What is the difference between APR and APY?
APR is the stated annual rate; APY includes the effect of compounding within the year. A 4.5% APR compounded monthly yields an APY of about 4.594%. Banks advertise whichever looks better, so this calculator shows the effective APY explicitly — compare offers on APY, not APR.
What happens if I withdraw early?
Most CDs charge an early-withdrawal penalty, typically 3–12 months of interest depending on the term. On short timelines a penalty can even eat into principal. If access matters, consider a no-penalty CD, a shorter term, or a CD ladder rather than breaking a long CD.
What is a CD ladder?
Splitting your money across CDs of staggered maturities — say equal parts in 1-, 2-, 3-, 4-, and 5-year CDs. Each year one matures, giving you access to cash or the chance to reinvest at current rates. Ladders balance the higher rates of long CDs with the flexibility of short ones.