CD Calculator
Calculate the maturity value and interest of a certificate of deposit from the rate, term and compounding.
How it works
Maturity = deposit × (1 + r ÷ n)^(n × t) · APY = (1 + r ÷ n)^n − 1
A certificate of deposit locks in a fixed rate for a set term. The maturity value compounds the nominal rate at the chosen frequency, and the effective APY shows the true yearly yield once that compounding is counted. Because CDs are fixed and federally insured up to the limit, the trade-off for the guaranteed rate is that your money is tied up until maturity.
Worked example
A $10,000 CD at a 4.5% nominal rate compounded monthly for 12 months matures at $10,459.40 — $459.40 of interest, and an effective APY of about 4.59%.
Frequently asked questions
What is the difference between the rate and the APY?
The nominal rate ignores compounding; the APY includes it and is the number to compare across banks. A 4.5% rate compounded monthly is a 4.59% APY.
What if I withdraw early?
Most CDs charge an early-withdrawal penalty — commonly a few months of interest — which this calculator does not deduct. Only commit money you can leave until maturity.
Are CDs a good place for my emergency fund?
Usually not for the whole fund, since access is restricted. A high-yield savings account keeps emergency cash reachable; CDs suit money with a known future date.
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This is an educational estimate, not financial advice. Confirm figures with your lender, advisor or tax professional.