CD Calculator

Maturity value and interest for a certificate of deposit. Results update as you type.

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Cost breakdown

How this calculator works

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Results are estimates for education only and are not financial advice.

Is APY the same as the interest rate?

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CD maturity formula

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How the maturity value is calculated, step by step

1. Convert the APY from a percentage to a decimal by dividing by 100.
2. Raise (1 + APY) to the power of months divided by 12 to get the growth factor for the term.
3. Multiply the deposit by the growth factor to get the maturity value, then subtract the deposit to get interest earned.
4. Divide interest earned by the number of months for the average interest per month.

Worked example

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What happens if I withdraw early?

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Is CD interest taxed?

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