CD Calculator
Free · no sign-up · reviewed July 2026
A certificate of deposit (CD) is one of the safest ways to earn interest: you lock up a set amount for a set time, and the bank guarantees the rate. This calculator shows exactly how much a CD will earn and what it'll be worth when the term ends.
Set your deposit, the APY the bank is offering, and the term. Because banks quote CDs as an annual percentage yield, the compounding is already baked in, so the result is what you'll actually walk away with.
Drag to adjust
Value after 12 months
$10,425.00
$425 of guaranteed interest on your $10,000
💡 A 1-year CD at 4.25% APY turns your $10,000 into $10,425. That's $425 in interest, locked in and guaranteed, as long as you leave it alone until the term ends.
$10,425
At maturity
in 12 months
$425
Interest earned
guaranteed
4.25%
APY
locked-in rate
- Your deposit$10,000
- Interest earned$425
- Deposit
- $10,000
- Term
- 12 months
- APY
- 4.25%
- Interest earned
- $425
- Value at maturity
- $10,425
The 2-minute guide
The trade-off: rate for access
A CD usually pays more than a regular savings account because you promise to leave the money untouched. Take it out early and you'll typically pay a penalty of a few months' interest. So only put money in a CD that you're confident you won't need before the term ends.
APY already includes compounding
You don't need to worry about 'how often does it compound' with a CD. The APY is the true, effective yearly rate after compounding, which is why it's the number to compare between banks. A higher APY is simply a better deal, full stop.
Consider a CD ladder
Instead of locking everything into one long CD, split it across several with different terms (say 6, 12, 18 and 24 months). As each one matures you get access to some cash and can reinvest at current rates. That keeps money reachable while still earning more than savings.
Frequently asked questions
How much does a CD earn?
It depends on your deposit, the APY and the term. For example, $10,000 in a 12-month CD at 4.25% APY earns about $425 in a year. Longer terms and higher APYs earn more. Enter your own numbers above to see the exact figure.
What happens when a CD matures?
At maturity you get your original deposit back plus all the interest. Most banks give you a short grace period to withdraw the money or roll it into a new CD. If you do nothing, many banks automatically renew it into a new CD at the current rate, so pay attention to the maturity date.
Is there a penalty for withdrawing a CD early?
Usually yes. Cashing out a CD before its term ends typically costs you a penalty of several months' worth of interest, and sometimes more on longer CDs. That's why you should only commit money you won't need during the term.
Are CDs safe?
CDs at FDIC-insured banks (or NCUA-insured credit unions) are insured up to $250,000 per depositor, per bank, so your principal is about as safe as money gets. The main risk isn't losing money, it's locking in a rate and then watching rates rise while your money is committed.
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