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- Shows how much a certificate of deposit is worth at maturity.
- Uses your deposit, rate, term in months and compounding.
- Gives the APY, total interest and the balance over time.
- Can subtract tax on the interest.
How to use the CD calculator
Enter the deposit
For example $10,000.
Enter the rate and term
The APR and the term in months, such as 12.
Choose the compounding
Daily is common for CDs.
Add tax (optional)
Enter your tax rate to see the balance after tax.
How CD interest is calculated
A CD pays a fixed rate for a fixed term. Interest compounds and stays in the CD until it matures, so you earn interest on your interest. Taking money out early usually costs a penalty.
CD formula
Balance = deposit × (1 + rate ÷ n)^(n × months ÷ 12)
APY = (1 + rate ÷ n)^n − 1
n is the number of compounding periods per year.
Example 1: $10,000 at 4.5% for 12 months
Compounded daily.
- Balance at maturity $10,460.25
- Interest earned $460.25
- APY 4.602%
With a 22% tax rate, the tax is $101.25, leaving $10,358.99.
Example 2: $10,000 at 4% for 60 months
Compounded monthly.
- Balance at maturity $12,209.97
- Interest earned $2,209.97
- APY 4.074%
When a CD calculator helps
Comparing CD offers
See which rate and term pay the most.
Choosing a term
Compare 6, 12, 24 and 60-month CDs.
CD ladders
Plan several CDs that mature at different times.
Savings goals
Know exactly what you will have on a date.
Convert rates with the APY calculator, plan monthly saving with the savings goal calculator, or check growth with the compound interest calculator.
CD calculator FAQ
How much will a $10,000 CD earn in a year?
At 4.5% compounded daily, about $460.25.
What is the difference between APR and APY on a CD?
APR is the base rate; APY includes compounding. Banks usually advertise the APY.
Is CD interest taxable?
In most countries, yes, as ordinary income in the year it is earned.
Can I withdraw money from a CD early?
Usually, but most banks charge an early withdrawal penalty.
How often does CD interest compound?
Often daily or monthly; check your bank’s terms.
What happens when a CD matures?
You can withdraw the money or roll it into a new CD.