CD Calculator
Calculate your Certificate of Deposit earnings with a month-by-month growth table.
Before you calculate
The entered nominal rate is compounded at the selected frequency. It is not an advertised APY; early-withdrawal penalties and taxes are excluded.
CD Interest Formula
A = final balance, P = principal, r = annual rate (decimal), n = compounding periods per year, t = term in years. APY reflects the true annual yield including compounding.
Maturity value = Principal × (1 + nominal annual rate / periods)^(periods × years)Example Scenarios
CD vs. Savings Account
A $10,000 CD at 4.5% for 1 year compounded monthly yields about $459 in interest. A typical high-yield savings account at 4% yields ~$408 — the CD wins if you can lock funds.
Longer Terms, Higher Yield
Locking $10,000 into a 5-year CD at 4.5% compounded monthly results in over $2,500 in interest, compared to just $459 for a 1-year CD at the same rate.
Sources & calculation notes
Maintained by MoneyCalc. Results are estimates based on the inputs and assumptions shown, not personalized financial advice or a lender quote. Default rates are examples unless a specific tax year or official table is identified.
References explain the underlying concepts or rules. They do not endorse or independently certify this implementation.
Calculations run in your browser. Some tools retain settings on this device. Displayed rounding can produce small differences from a statement or contract.