CD Calculator
Calculate how much your certificate of deposit will be worth at maturity.
Frequently Asked Questions
What is APY vs APR for CDs?
APR is the stated rate. APY includes compounding. A 5% APR compounded monthly gives about 5.12% APY. Compare APY between CDs.
What happens if I withdraw a CD early?
Most banks charge a penalty of 3-12 months of interest depending on the term. Some offer no-penalty CDs with slightly lower rates.
Are CDs safe?
FDIC-insured CDs are guaranteed up to $250,000 per depositor per bank. Principal and interest are protected.
What is a CD ladder strategy?
A CD ladder splits savings across multiple CDs with staggered maturities — for example, 1, 2, 3, and 5-year CDs. When each matures, you reinvest at the longest term. This balances higher rates from longer-term CDs with the liquidity of regular maturities.
How does compounding frequency affect my earnings?
More frequent compounding produces slightly higher returns. A $10,000 CD at 4.5% APR: annual compounding = $450; monthly = $459; daily = ~$460. Most CDs quote APY, which already reflects compounding — compare APY directly when choosing.