CD Calculator
Calculate how much a Certificate of Deposit (CD) will be worth at maturity. Enter your deposit amount, the APY, and the term to see your interest earned and final balance. APY already accounts for compounding.
Formula reviewed for accuracy. Our methodology & sources
CD Calculator
finance calculator
How It Works
Because APY already includes the effect of compounding over a year, the calculator simply grows your deposit by the APY for the fraction of a year your term covers. You lock in this fixed rate for the full term, so unlike a savings account the return will not drop if market rates fall. The trade-off is that your money is committed until maturity, and cashing out early typically triggers a penalty that this figure does not include.
Formula
Maturity Value = Principal × (1 + APY)^(months ÷ 12)
Examples
$10,000 at 4.5% APY for 12 months
Grows to $10,450 — $450 in interest.
Frequently Asked Questions
What is APY?
APY (Annual Percentage Yield) is the real rate of return including the effect of compounding over a year. Because it bakes in compounding, you can apply it directly to find your total growth.
Is a CD a good investment?
CDs are very low-risk and FDIC-insured (in the US) up to limits, making them good for money you won't need until the term ends. The trade-off is lower returns than stocks and an early-withdrawal penalty if you cash out early.
What happens if I withdraw early?
Most CDs charge an early-withdrawal penalty, often several months of interest. This calculator shows the value if you hold to maturity.
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