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CD Calculator
Free CD calculator. Estimate the interest and final balance of a certificate of deposit.
Deposit vs. Interest
Frequently Asked Questions
How much interest will a CD earn?
Multiply your deposit by (1 + APY) raised to the term in years. A $10,000 CD at 4.25% APY for one year earns $425, and longer terms earn more because interest compounds.
What is the difference between APY and interest rate?
The interest rate is the base rate, while APY folds in how often interest compounds. Because APY already reflects compounding, comparing CDs by APY is an apples-to-apples comparison.
What is an early withdrawal penalty?
Cashing out before maturity usually costs a set number of months of interest, often three to twelve depending on term. Enter the number of months and the calculator shows the dollar cost.
Is CD interest taxable?
Yes. CD interest is generally taxed as ordinary income in the year it is credited, even if the CD has not matured, unless it is held in a tax-advantaged account. The calculator shows pre-tax figures.