CD Calculator
Find the maturity value of a certificate of deposit.
Results update as you type.
How it works
A certificate of deposit, or CD, is a savings product that pays a fixed interest rate for a set term, and this calculator finds what your deposit will grow to. You enter the deposit amount, the annual percentage yield, and the term in years, and it returns the maturity value and the total interest earned. Because the APY already accounts for how often the CD compounds within a year, the calculation simply grows the deposit by one plus the APY each year over the term. CDs appeal to savers who want a guaranteed, predictable return and can lock up their money for the term: they typically pay more than regular savings accounts in exchange for you agreeing not to withdraw early. The longer the term and the higher the APY, the more your money grows, though longer terms tie up funds and carry more interest-rate risk. Knowing the maturity value helps you compare CD offers, plan for a savings goal with a known payout, and decide between CDs of different terms and rates. Most CDs charge an early-withdrawal penalty if you take the money out before maturity, which this calculator does not model, so only commit funds you will not need. It also assumes the rate is fixed for the whole term, which is standard for CDs. Enter your deposit, APY, and term to compute the CD's maturity value.
Maturity value = principal × (1 + APY)^years
A certificate of deposit's maturity value compounds the deposit at its annual percentage yield over the term. Because APY already reflects compounding within the year, the value grows by one plus the APY each year, raised to the number of years. The interest earned is the maturity value minus the original deposit.
Source:Savings products
We review all our tools from time to time to ensure accuracy.
Worked example
How to use this calculator
- 1
Enter your values
Enter deposit amount, annual percentage yield (apy) and term.
- 2
Adjust the options
Fine-tune any options to match your situation.
- 3
Read your result
Maturity value updates instantly as you type — no button to press.
Frequently asked questions
How is a CD's maturity value calculated?
Grow the deposit by one plus the annual percentage yield each year over the term. A $10,000 deposit at 5 percent APY for 3 years matures at about $11,576. Because the APY already includes compounding within the year, no separate compounding step is needed, which the calculator handles for you.
What is APY on a CD?
APY, annual percentage yield, is the effective annual rate of return on the CD including the effect of compounding within the year. It is the figure banks advertise so you can compare CDs directly. Using APY, the maturity value simply compounds annually, since APY already captures more frequent compounding.
Why do CDs pay more than savings accounts?
CDs pay more because you agree to leave your money untouched for a fixed term, giving the bank stable funds. In exchange for this commitment and the early-withdrawal penalty that discourages taking money out, banks offer a higher rate than easily accessible savings accounts. Longer terms usually pay even more.
What happens if I withdraw early?
Most CDs charge an early-withdrawal penalty, often several months of interest, if you take the money out before the term ends. This can reduce or eliminate your earnings. This calculator assumes you hold the CD to maturity, so only deposit money you are confident you will not need during the term.
How do I choose a CD term?
Balance the higher rates of longer terms against locking up your money and interest-rate risk. If rates may rise, a shorter term or a CD ladder lets you reinvest sooner; if you want to secure a good rate, a longer term locks it in. Match the term to when you will need the funds and your rate outlook.