CD Calculator
Project return on a certificate of deposit.
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Frequently asked questions
Banks quote CDs in APY (Annual Percentage Yield), which already includes compounding. Treating APY as an annual growth factor — A = P × (1 + APY)^(years) — gets you the maturity balance directly, without having to know the bank's internal compounding frequency.
No. The result assumes you hold the CD to maturity. If you take the money out early, most banks charge a penalty (often several months of interest) that this calculator does not model.
No. The interest figure is pre-tax. CD interest is typically taxed as ordinary income in the year it is paid — subtract your marginal tax rate to estimate the after-tax return.
Last updated 2026-06-03.