Certificate of Deposit

For illustration purposes only:
This calculator will determine how much interest you can earn on a Certificate of Deposit (CD). Enter a few pieces of information, and it will calculate your Annual Percentage Yield (APY) and ending balance. Click the View Report button to see a detailed schedule of balance and interest earned.

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Definitions
  • INITIAL DEPOSIT
    The starting balance for your CD.
  • MONTHS
    The total number of months for this CD to mature.
  • INTEREST RATE
    This is the published interest rate for the CD. Ensure that you enter the actual interest rate, not the Annual Percentage Yield (APY).
  • ANNUAL PERCENTAGE YIELD (APY)
    This is the effective annual interest rate earned for this CD. A CDs APY depends on the frequency of compounding and the interest rate. Since APY measures your actual interest earned per year, you can use it to compare CDs of different interest rates and compounding frequencies.
  • COMPOUNDING
    This is the frequency that your CDs interest is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. You may wish to check with your financial institution to find out how often interest is being compounded on your particular CD.