See how much your certificate of deposit (CD) will earn at maturity. Enter your deposit amount, APY, term, and compounding frequency to calculate total interest earned. Also see the cost of early withdrawal.
A Certificate of Deposit (CD) is a savings product that locks money in for a fixed term in exchange for a guaranteed interest rate, usually higher than a savings account. CDs are FDIC-insured up to $250,000 per depositor per bank, making them one of the lowest-risk places to park cash you don't need for the term length.
This calculator computes the value of a CD at maturity given a deposit amount, APY, term length, and compounding frequency. It also estimates the cost of an early withdrawal, which is typically a few months of interest depending on the term.
CDs make sense for money with a known timeline: a planned car purchase next year, a tuition payment in 18 months, an emergency-fund overflow you want to earn more on. They're less useful for money you might need on short notice (the penalty erases gains) or money with a 5+ year horizon (stock-market returns historically beat CDs over those periods).
$10,000 at 4.5% APY, 12 months, daily compounding. Final value: $10,460 Interest earned: $460 After-tax (22% federal bracket): ≈ $360 actual gain. Slightly above-inflation in a 3% inflation environment.
Split $50,000 into five $10,000 CDs maturing at 1, 2, 3, 4, and 5 years. At maturity, reinvest each into a new 5-year CD. After year 5, you have a "ladder" where one CD matures every year — providing liquidity, while the bulk earns 5-year rates. This balances higher long-term rates against having some money accessible each year.
Use CDs for money with a known timeline that you want guaranteed and FDIC-insured. They work especially well for: - Emergency-fund overflow (the portion above 3 months you wouldn't touch in a small emergency) - House down payment savings 12–36 months out - College tuition payments 1–4 years out - Anyone uncomfortable with stock market volatility
CDs are NOT ideal for: - Truly emergency money (penalty erases gains) - Long-term retirement savings (stocks/index funds beat CDs over decades) - Money you might need on short notice
Compare CD rates across at least 3 banks and credit unions. Online banks consistently offer higher CD rates than traditional brick-and-mortar; brokered CDs through Fidelity/Vanguard/Schwab offer even higher rates but with secondary-market complexity.
For maximum flexibility, consider "no-penalty CDs" (lower rate, but withdraw any time after 7 days) or money market funds (slightly lower rate, fully liquid).
Find out how much to save each month to reach your financial goal.
See how your money grows over time with compound interest and regular contributions.
Calculate how your savings grow with regular deposits and compound interest.
Project your 529 plan growth and see if you'll have enough for college tuition.
Project future college costs with inflation and savings growth.
Build a CD ladder strategy for optimal liquidity and returns.
Month of the term when an early withdrawal would happen
Value at Maturity
$10,460.25
Total Interest Earned
$460.25
Effective APY
4.602%
Early Withdrawal Penalty
$113.77