CD Calculator
Estimate what your Certificate of Deposit will be worth at maturity based on your deposit amount, APY, and term length.
Reviewed by the CalcCafe editorial team · Last updated 1 July 2026 · How we test our tools
Example
Deposit $10,000 into a 12-month CD at 4.5% APY. Maturity value = 10,000 × (1 + 0.045)^(12/12) = $10,450.00, so you earn $450.00 in interest. Hold it for 24 months and it grows to $10,920.25 ($920.25 interest).
How it works
Enter your deposit amount, the CD's APY, and the term in months. The tool computes maturity value as deposit times (1 + APY)^(months/12) and shows the interest earned plus the equivalent nominal rate for your compounding choice.
Good to know
The CD Calculator estimates what a Certificate of Deposit will be worth when it matures, using just three inputs: your deposit amount, the advertised APY, and the term in months. It returns the maturity value, the total interest you'd earn, the APY restated for clarity, and the equivalent nominal (stated) interest rate for your chosen compounding frequency. It's built for savers comparing CD offers, anyone weighing a CD against a high-yield savings account, or people deciding between a 6-, 12-, or 24-month term.
Reach for it before locking up money: plug in a bank's quoted APY and the term you're considering to see the dollar figure you'd actually walk away with, then repeat with a competing offer to compare side by side. The bar chart splits your ending balance into principal versus interest, which makes it easy to see how much of the maturity value is your own money returned versus what the CD actually added.
One detail trips people up: changing the compounding selector will not change your maturity value. Because APY already accounts for compounding within the year, the math here depends only on APY and term. The compounding choice only changes the "equivalent nominal rate" figure, which is the simpler stated rate a bank would have to quote at that frequency to arrive at the same APY. If a bank advertises a nominal rate instead of an APY, expect your real earnings to be slightly higher than that nominal number suggests.
A practical caveat: this tool models a clean hold-to-maturity scenario and does not subtract early-withdrawal penalties, account for taxes on the interest, or factor in what you'd do with the money once the CD matures. Treat the result as a before-tax, no-penalty estimate, and always confirm the exact APY, term, and penalty schedule in the bank's disclosures before committing.
Frequently asked questions
Does the compounding setting change my CD's maturity value?
No. Because APY already bakes in the compounding effect, the maturity value depends only on the APY and term. The compounding selector just shows the equivalent nominal (stated) interest rate a bank would quote for that frequency to produce the same APY.
How is APY different from the CD's interest rate?
The interest rate (nominal/APR) is the simple stated rate, while APY (Annual Percentage Yield) is the effective rate after compounding within the year. APY is always equal to or higher than the nominal rate, and it is the number that determines your actual earnings.
Is my data uploaded anywhere?
No — this calculator runs entirely in your browser; nothing is uploaded.
Is this financial advice?
No. These are educational estimates — consult a qualified financial professional before making decisions.
People also ask
How do you calculate the maturity value of a CD?
With APY, the formula is deposit x (1 + APY)^(months/12). For example, $10,000 at 4.5% APY for 12 months matures at $10,450, and over 24 months it grows to about $10,920.25 because interest compounds on the prior year's balance.
Are CD interest earnings taxed?
Interest earned on a standard (non-retirement) CD is generally treated as taxable income in the year it is credited, and banks typically report it on Form 1099-INT once it reaches the reporting threshold. This calculator shows pre-tax figures only.
What happens if I withdraw money from a CD before it matures?
Most CDs charge an early-withdrawal penalty, often expressed as a number of months of interest, which reduces or can even exceed the interest you've earned. This tool assumes you hold the CD to maturity and does not subtract any penalty.
Is a CD a good place to keep my money?
A CD generally offers a fixed, predictable return in exchange for locking up funds for a set term, while options like high-yield savings keep money accessible but with variable rates. Which fits depends on your timeline and goals; this is general information, not advice.
What is a CD ladder?
A CD ladder is a strategy of splitting money across several CDs with staggered maturity dates so that one matures at regular intervals. It aims to balance access to cash with the typically higher rates on longer terms, and you can model each rung separately in this calculator.
Does a higher compounding frequency mean I earn more on a CD?
More frequent compounding produces a higher APY for the same nominal rate, but once a bank quotes you the APY, the frequency no longer changes your earnings. Since this calculator works from APY, the maturity value stays the same regardless of which compounding option you pick.
Are CDs insured?
CDs at banks are generally covered by FDIC insurance and those at credit unions by NCUA insurance, each up to applicable limits per depositor, per institution, per ownership category. Confirm coverage details with the issuing institution.
How much will $10,000 make in a 6 month CD?
At a 4.5% APY, a $10,000 6-month CD earns about $222.52, since 10,000 × 1.045^(6/12) = $10,222.52. At 4% APY the interest is about $198, and at 5% APY about $247. Because APY is an annual figure, a 6-month CD earns a bit less than half the annual amount ($225 at 4.5%), which the exponent in the formula accounts for. The interest is taxable in the year it is paid.
How do I calculate how much money my CD will make?
Multiply your deposit by (1 + APY)^(months ÷ 12) to get the maturity value, then subtract the deposit to get the interest. For $10,000 at 4.5% APY for 12 months, that is 10,000 × 1.045 = $10,450, so $450 of interest; for 24 months it is 10,000 × 1.045^2 = $10,920.25. Because APY already includes the effect of compounding, you do not need to know the bank's compounding frequency to use this formula.
Is it smart to put $100,000 in a CD?
It can be if you want a guaranteed return and will not need the money before maturity. At a 4.5% APY, $100,000 in a 12-month CD earns 100,000 × 0.045 = $4,500, and the deposit is insured up to the FDIC or NCUA limit per depositor, per institution, per ownership category, so check that your total at one bank stays under it. The downsides are early-withdrawal penalties, the risk that rates rise after you lock in, and the fact that CDs rarely beat inflation by much over the long run. Splitting the money into a CD ladder with staggered maturities is a common compromise; this is general information, not advice.
What not to do when your CD matures?
The main mistake is doing nothing: most banks automatically roll a matured CD into a new one at whatever rate they currently offer, which may be far below the best available, and the new term locks your money up again. Banks usually give a short grace period, often around 7 to 10 days, to withdraw or move the funds without penalty, so note the maturity date and act within it. Compare current CD rates and your own cash needs before deciding whether to renew, ladder or move the money.
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Sources & references
These tools follow our methodology and provide educational estimates only — verify important figures with a qualified professional.