CD Calculator
Estimate your certificate of deposit growth, maturity value, total interest earned, after-tax return, and inflation-adjusted value using this free CD calculator.
What Is a CD Calculator?
A CD calculator helps you estimate how much your money could grow in a certificate of deposit account. It uses your initial deposit, interest rate, term length, and compounding schedule to estimate your final balance.
How CD Interest Is Calculated
Most CDs grow using compound interest. That means your balance earns interest, and then future interest is earned on that growing amount. Higher rates, longer terms, and more frequent compounding can increase your maturity value.
How to Use This Calculator
- Enter your starting deposit amount.
- Add your CD rate and term length.
- Select how often interest compounds.
- Optionally include recurring deposits, tax rate, and inflation rate.
CD vs Savings Account
A CD usually offers a fixed rate for a fixed term, while a savings account typically has more flexible access to your money. CDs may offer better rates, but early withdrawals can come with penalties.
FAQs
What is a CD calculator?
A CD calculator estimates your final balance and interest earned over a certificate of deposit term.
How accurate is a CD calculator?
It provides a strong estimate based on the values you enter, but actual bank terms and taxes may differ.
What does APY mean?
APY stands for annual percentage yield. It reflects the real yearly return including compounding.
Can I add monthly deposits to a CD?
Some CDs allow additional deposits, while many traditional CDs do not. This tool can estimate both scenarios.
What is the difference between APR and APY?
APR is the stated yearly rate, while APY includes the effect of compounding over time.