CD Calculator
See what a certificate of deposit is worth at maturity from its APY and term — total interest, a month-by-month growth curve, and an estimate of the early-withdrawal penalty.
$10,000 in a 12-month CD at 4.00% APY matures at $10,400 ($400 interest). For context, the federal funds rate is 3.6% as of Q2 2026.
$10,400
$10,000 at 4.00% APY after a 12-month term
Fixed APY
A CD locks its rate for the full term once opened
3.6% fed funds
Federal funds rate as of Q2 2026 (FRED) — rate-environment context, not a CD rate
What to know before locking in a CD
A fixed rate, compounding built into the APY, and a penalty for early access.
A CD trades access for a fixed rate
You agree to leave the money untouched for the term, and in return the rate is locked in. That certainty is the appeal — and the early-withdrawal penalty is the cost of breaking the deal.
APY already includes compounding
Because a CD is quoted in APY, you do not need to guess the compounding frequency — the advertised yield is what the deposit earns per year. Longer terms simply compound that yield over more years.
Know the early-withdrawal penalty
Most CDs charge a set number of months of interest if you cash out early. On shorter CDs this penalty can wipe out most of your earnings, so match the term to when you will actually need the cash.
How the CD Calculator Works
Formula
years = term (months) ÷ 12
maturityValue = deposit × (1 + APY)^years
totalInterest = maturityValue − deposit
monthlyRate = (1 + APY)^(1 ÷ 12) − 1
Early-withdrawal penalty (estimate):
penalty ≈ deposit × monthlyRate × penalty monthsEnter your deposit
The amount you will lock into the CD.
Enter the advertised APY
Banks quote CDs in APY, which already accounts for compounding.
Set the term
How many months the CD is held before it matures.
Set the penalty
Most CDs charge a number of months of interest for early withdrawal.
Review maturity and penalty
See the final value, interest earned, and what breaking it early would cost.
The CD APY here is a value you enter, so the tool works for any bank's offer. Early-withdrawal penalties are an estimate based on the common months-of-interest rule and vary by institution — always confirm with the CD's disclosure.
New CD rates move with the broader rate environment. For background, the federal funds rate is 3.6% as of Q2 2026 (source: St. Louis Fed, FRED). This is rate-environment context only; your CD's APY is locked for its term once opened.
Frequently Asked Questions
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