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Certificate of Deposit Calculator
Use this calculator to find out how much interest you can earn on a Certificate of Deposit (CD). Just enter a few pieces of information and we will calculate your Annual Percentage Yield (APY) and ending balance. Click on the "View Report" button to see a detailed schedule of your CD's balance and interest earned.
Definitions
- Initial deposit
- The starting balance for your CD.
- Months
- The total number of months for this CD to mature.
- Interest rate
- The published interest rate for this CD. Make sure to 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 CD's 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 CD's of different interest rates and compounding frequencies.
- Compounding
- This is the frequency that your CD's 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.
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