CD Rate Calculator

Estimate certificate of deposit maturity value from an initial deposit, interest rate, term in months, and compounding frequency. The calculator reports final balance, total interest, APY, and average monthly interest.

How to use this calculator

Enter the initial deposit, interest rate, term, and compounding frequency. The term is entered in months, while compounding can be daily, weekly, monthly, quarterly, or annually. To compare CD growth with broader savings assumptions, use the compound interest calculator or savings goal calculator.

Formula

The final balance is based on compound interest:

$final\ balance = principal \times (1 + rate \div compounds) ^ (compounds \times years)$

APY converts the stated annual rate and compounding schedule into an effective annual yield.

$APY = ((1 + rate \div compounds) ^ compounds - 1) \times 100$

Example

A 10,000 dollar CD at 4.5 percent for 12 months with monthly compounding grows to about 10,459 dollars. Total interest is about 459 dollars, and the APY is about 4.59 percent.

Interpreting results

More frequent compounding slightly increases interest when the stated rate is the same. The calculator does not subtract early withdrawal penalties, taxes, or account fees. If you are comparing cash flow needs, the budget calculator can help separate money that should remain accessible from money that can be locked until maturity.