CD Calculator
A certificate of deposit locks your money for a fixed term in exchange for a guaranteed annual percentage yield (APY). Enter your principal, the quoted APY, and the term length to find out exactly what your CD will be worth on its maturity date.
Year-by-year breakdown
| Period | Contributions | Interest | Balance |
|---|---|---|---|
| Year 1 | $10,000 | $460 | $10,460 |
| Year 2 | $10,000 | $942 | $10,942 |
| Year 3 | $10,000 | $1,445 | $11,445 |
APY vs APR on a CD
The rate banks advertise for CDs is the APY — the annual percentage yield — which already accounts for compounding. That makes APY the right number to enter in this calculator's "annual interest rate" field, since the engine treats it as a nominal rate and compounds it at the frequency you choose. Set the compounding to daily, which is how most US CDs accrue interest.
Unlike the savings and investment calculators, a CD is a single-deposit product: you cannot add money mid-term, so this page hides the recurring contribution field.