CD CalculatorFree online financial calculator — instant results, no sign-up
Value of a certificate of deposit at maturity.
Estimates only, based on the inputs and assumptions shown. This is not financial, investment, tax, or legal advice. Prices, rates and local rules may change; crypto scenarios do not predict returns. Confirm important decisions with a qualified professional.
Sign in to save results and favorites.
About the CD Calculator
This calculator determines the total balance and interest earned on a certificate of deposit (CD) at the end of its investment term. It is designed for savers comparing fixed-term deposit offers across different maturity lengths and annual percentage yields (APY).
- Deposit
- The initial principal amount placed into the CD, entered in dollars (typically $500 to $100,000 or more).
- APY
- The annual percentage yield reflecting the total interest rate including annual compounding, entered as a percentage (typically 0.1% to 6.0%).
- Term
- The duration of the CD until maturity, entered in months (commonly 3 to 60 months).
Formula and method
Value at maturity = Deposit × (1 + APY / 100)^(Term / 12) Interest = Value at maturity − Deposit
- DepositInitial principal invested
- APYAnnual percentage yield as a percentage
- TermDuration of the certificate of deposit in months
- Value at maturityTotal ending balance when the CD reaches its maturity date
- InterestTotal earnings accrued over the term
The calculator converts the term in months into fractional years by dividing by 12. It applies annual compounding using the specified APY rate raised to the power of the term in years. The earned interest is determined by subtracting the original deposit from the final balance, with values formatted as currency.
Worked example
These are the calculator's starting values and the results it actually produces for them.
Inputs
- Deposit10000 $
- APY4.5 %
- Term18 months
Results
- Value at maturity$10,682.54
- Interest$682.54
How to use the CD Calculator
- 1Divide the term in months by 12 to determine the duration in years.
- 2Divide the APY percentage by 100 and add 1 to establish the annual growth factor.
- 3Raise the growth factor to the power of the term in years and multiply by the initial deposit to find the value at maturity.
- 4Subtract the initial deposit from the value at maturity to compute the total interest earned.
Reading your result
The 'Value at maturity' displays the total cash available once the CD term concludes, assuming all interest remains in the account. The 'Interest' figure reflects the dollar amount of your return on the principal deposit.
Limitations
This calculation assumes interest compounds within the CD rather than being disbursed periodically into an external checking or savings account. It does not account for income taxes owed on earned interest or early withdrawal penalties incurred if funds are removed before maturity.
Common questions
Why does this tool use APY instead of an APR interest rate?+
APY (Annual Percentage Yield) already accounts for how frequently interest compounds during a 12-month period, which standardizes earnings comparisons regardless of whether compounding occurs daily, monthly, or quarterly.
What happens if I withdraw my CD funds before the term ends?+
Banks typically charge an early withdrawal penalty, which usually equals several months of accrued interest and may reduce your final return or principal.
Do I have to pay income tax on CD interest before the CD matures?+
Yes, in most cases the IRS considers interest taxable in the calendar year it is credited to your account, even if you cannot withdraw it without penalty until the CD matures.
Does the calculator save my information?+
Calculations run in your browser. While signed in, inputs and results are automatically recorded in account history; saving a result creates a separate saved record.
Further reading
You might also like
Interest Calculator
Growth of savings with compound interest and regular deposits.
Investment Calculator
Project an investment with monthly contributions.
Finance Calculator
Solve for future value from present value, rate, periods and payment.
Compound Interest Calculator
Compare compounding frequencies and see the effective rate.
Interest Rate Calculator
Find the rate on a loan from amount, payment and term.
Savings Calculator
How savings grow with deposits, interest and tax.
Results are estimates for informational purposes and are not financial, medical or legal advice.