myCDcalculator.comCD Interest Calculator
CD Calculator 2026
CD Interest
Calculator
Calculate how much interest your certificate of deposit will earn. See maturity value, total interest, APY and a year-by-year growth table.
Maturity value
Total interest
APY
Year-by-year table
CD Calculator — Certificate of Deposit Interest
Enter your CD deposit, rate and term. Results update automatically.
Initial deposit
e.g. 4.5 for 4.50%
CD length
How often interest compounds
Maturity Value
—
Principal + interest
Total Interest
—
Amount earned
APY
—
Annual percentage yield
Stated Rate
—
Annual percentage rate
Year-by-Year Growth
| Year | Balance | Interest Earned |
|---|
CD Calculator — How It Works
Compound Interest FormulaMaturity value = P(1 + r/n)^(nt) where P = principal, r = annual rate, n = compounding periods, t = years.
APY vs APRAPY (Annual Percentage Yield) includes compounding. APR does not. A 4.5% APR compounded monthly = 4.594% APY.
FDIC InsuranceCDs at FDIC-insured banks are protected up to $250,000 per depositor per ownership category.
Early WithdrawalBreaking a CD before maturity incurs a penalty, typically 3–6 months interest depending on the term.
CD vs HYSACDs lock in your rate for the full term. High-yield savings accounts offer flexibility but variable rates.
Laddering StrategySplitting deposits across multiple CDs with staggered maturities provides liquidity while maximizing yield.
CD Calculator FAQ
How does a certificate of deposit work? ▾
A CD is a savings account that earns a fixed interest rate for a fixed term. You deposit money and agree not to withdraw it until the CD matures. In return, the bank pays a higher interest rate than a standard savings account. At maturity, you receive your original deposit plus all interest earned.
What is the difference between APR and APY on a CD? ▾
APR (Annual Percentage Rate) is the stated interest rate before compounding. APY (Annual Percentage Yield) reflects the actual return after compounding is applied. A 4.5% APR compounded monthly produces an APY of 4.594%. When comparing CDs, always compare APY rather than APR, as compounding frequency affects your actual return.
What are current CD rates in 2026? ▾
CD rates vary by bank, term length, and the federal funds rate environment. Online banks and credit unions typically offer higher rates than traditional brick-and-mortar banks. Short-term CDs (3–12 months) and long-term CDs (3–5 years) often offer different rate advantages depending on the yield curve. Check Bankrate or NerdWallet for current top rates.
What is a CD laddering strategy? ▾
CD laddering means splitting your savings across multiple CDs with different maturity dates. For example: $10,000 split into four $2,500 CDs maturing at 6 months, 1 year, 2 years, and 3 years. As each CD matures, you can use the funds or reinvest at current rates. Laddering provides regular liquidity while still capturing higher long-term rates.
Are CDs FDIC insured? ▾
Yes. CDs at FDIC-member banks are insured up to $250,000 per depositor per ownership category per institution. Credit union CDs are insured by the NCUA up to the same limit. If you have more than $250,000 to deposit, consider spreading it across multiple FDIC-insured institutions or using different account ownership types.
What happens if I need to withdraw from a CD early? ▾
Breaking a CD before maturity typically incurs an early withdrawal penalty. Common penalties are 3 months of interest for CDs under 12 months, 6 months for 1–2 year CDs, and 12+ months for longer terms. Some banks offer no-penalty CDs that allow early withdrawal, but typically at lower interest rates. Read your CD agreement carefully before opening.
About This CD Calculator
This certificate of deposit calculator uses the compound interest formula A = P(1 + r/n)^(nt) to calculate your exact maturity value and total interest earned. Enter your deposit amount, the annual interest rate, CD term, and compounding frequency to see your results instantly.
The calculator also shows the APY (Annual Percentage Yield) which accounts for compounding, and a year-by-year growth table so you can see exactly how your balance grows over time. Results are calculated using standard compound interest formulas. Your actual CD return depends on your bank’s specific terms and compounding schedule.