CD Calculator (Certificate of Deposit)
See what a CD will be worth when it matures.
How a CD works
A certificate of deposit holds your money for a fixed term at a fixed rate, usually higher than a regular savings account. The more often interest is added (compounded), the more you earn, though the difference is small. The APY shows the effective yearly rate after compounding.
Example
10,000 at 4.5% a year, compounded monthly for 12 months, is worth about 10,459.40, which is 459.40 of interest. The APY is about 4.594%.
Withdrawing early usually costs a penalty, often some months of interest. Tax on the interest is not included. Deposits are normally protected by deposit insurance up to a limit, so check the limit in your country.
Frequently asked questions
Is APY the same as the interest rate?
No. APY includes compounding, so it is slightly higher than the stated rate.
Can I add money to a CD?
Usually not. A CD is a single deposit for a set term.
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