Certificate of Deposit (CD) Calculator
Calculate exactly how much interest your money will earn in a CD. Compare different APYs and term lengths to maximize your guaranteed returns.
Maturity Summary
Enter your CD details and click Calculate to see your guaranteed earnings.
Interest Growth Schedule
Track how your money grows via compound interest over the term of the CD.
| Period | Interest Earned | Total Interest | Ending Balance |
|---|---|---|---|
| Calculate to view schedule | |||
How This Calculator Works
This calculator uses the standard compound interest formula to determine the future value of your CD:
Variables: P is the initial principal, r is the annual interest rate (decimal), n is the compounding frequency per year, and t is the time in years.
Common CD Questions
What is a CD (Certificate of Deposit)?
A CD is a type of savings account that holds a fixed amount of money for a fixed period of time (the "term"), such as six months, one year, or five years. In exchange for locking up your money, the bank pays you a higher interest rate than a regular savings account. Unlike the stock market, your return is guaranteed and insured by the FDIC (up to $250,000).
What happens if I withdraw my money early?
If you need your money before the CD reaches "maturity" (the end of the term), you will usually have to pay an early withdrawal penalty. This penalty varies by bank but often equals several months' worth of interest. You should only put money in a CD if you are certain you won't need it before the term ends.
Are CD rates locked in?
Yes. The defining feature of a CD is that the interest rate is locked in for the entire term. If you buy a 5-year CD at 5% APY, you will earn 5% every year for 5 years, even if interest rates drop to 1% during that time. Conversely, if rates rise to 7%, you are still locked in at 5%.
Want to build a CD ladder?
Read our full guide to Certificates of Deposit, including how to structure a "CD Ladder" to get high rates while keeping your money accessible.