CD Calculator
Use our free CD Calculator to estimate how much your Certificate of Deposit could be worth when it reaches maturity. Enter your initial deposit, APY, CD term, and compounding frequency.
Calculate CD Growth
CD Value Breakdown
What Is a CD?
A Certificate of Deposit, commonly called a CD, is a type of deposit account offered by banks and credit unions. In exchange for keeping money deposited for a specific period, the account may provide a fixed interest rate.
CD terms can range from a few months to several years. Generally, withdrawing money before the maturity date may result in an early withdrawal penalty, depending on the financial institution and account terms.
How a CD Calculator Works
This calculator estimates the maturity value of a CD using the starting deposit, annual percentage yield, term length, and compounding frequency. The calculation assumes the stated rate remains unchanged throughout the CD term.
The actual amount you receive may differ if the bank uses a different calculation method, charges fees, changes terms, or applies an early withdrawal penalty.
Why Compare CD Rates?
Comparing CD APYs can help you evaluate potential interest earnings before choosing an account. However, APY should not be the only consideration. You should also review minimum deposit requirements, maturity options, withdrawal penalties, and whether the CD automatically renews.
Frequently Asked Questions
What happens when a CD matures?
At maturity, the bank generally returns the principal plus earned interest, or may automatically renew the CD depending on the account agreement.
Can I withdraw money before maturity?
Many CDs allow early withdrawal subject to penalties. Check your financial institution's specific terms before withdrawing funds.
Is CD interest taxable?
Interest from many taxable CD accounts can be subject to federal and potentially state income taxes. Consult a qualified tax professional for your circumstances.