CD Calculator (Certificate of Deposit)
Find what a certificate of deposit (CD) will be worth at maturity from the deposit, the APY and the term in months or years, and how much interest it earns.
Last updated: October 2026
Balance at maturity
11,248.64 $
Formula below · 4 sources (CFPB, fdic.gov, IRS, fred.stlouisfed.org) · Updated Oct 2026
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About this calculator
A CD pays a fixed rate for a fixed term. Banks quote the rate as an APY (annual percentage yield), which already includes the effect of compounding, so the balance at maturity is:
Balance = deposit × (1 + APY)^years
For a term given in months, years = months ÷ 12. This matches how the Truth in Savings rules (Regulation DD) define APY: the interest earned over the term, restated as a yearly rate with compounding. Because of that, you do not need to know whether the bank compounds daily or monthly. Two CDs with the same APY and term pay the same amount.
With the defaults, $10,000 in a 3-year CD at 4% APY grows to 10,000 × 1.04³ = $11,248.64, so it earns $1,248.64 in interest.
The result assumes the interest stays in the CD until maturity and that you do not withdraw early. If the bank pays interest out to you instead of adding it to the balance, you earn slightly less. Withdrawing before maturity normally costs a penalty, often a few months of interest, so check the terms before you open the account.
CDs at FDIC-insured banks are covered up to $250,000 per depositor, per bank, per ownership category, and credit union CDs have the same limit through the NCUA. CD interest is taxable as ordinary income, so the amount you keep is lower than the figure shown. This is an estimate, not financial advice.
| APY | 6 months | 1 year | 2 years | 3 years | 5 years |
|---|---|---|---|---|---|
| 1.7% (about the FDIC national average for a 12-month CD, Sept 2026) | $10,085 | $10,170 | $10,343 | $10,519 | $10,879 |
| 3% | $10,149 | $10,300 | $10,609 | $10,927 | $11,593 |
| 4% | $10,198 | $10,400 | $10,816 | $11,249 | $12,167 |
| 4.5% | $10,223 | $10,450 | $10,920 | $11,412 | $12,462 |
| 5% | $10,247 | $10,500 | $11,025 | $11,576 | $12,763 |
How to use
Enter the amount you plan to deposit, the APY the bank quotes, and the term. Pick Months for terms such as 6 or 18 months, or Years for terms such as 3 or 5 years. Example 1: $10,000 for 3 years at 4% APY. 10,000 × 1.04³ = $11,248.64, so the CD earns $1,248.64. Example 2: $25,000 in an 18-month CD at 4.2% APY. Enter 18 and choose Months. 25,000 × 1.042^1.5 = $26,591.42, so it earns $1,591.42. Example 3: $5,000 in a 6-month CD at 4.25% APY. 5,000 × 1.0425^0.5 = $5,105.14. A 6-month CD earns about half a year's interest, not the full 4.25%.
Frequently asked questions
What is the difference between APY and the interest rate on a CD?
The interest rate is the nominal yearly rate before compounding. The APY includes compounding, so it is the better number for comparing CDs. A 3.92% rate compounded daily works out to about a 4.00% APY. Enter the APY in this calculator.
How much will a 6-month or 18-month CD earn?
Choose Months and enter the term. The calculator scales the APY to the term, so a 6-month CD at 4% APY earns about 1.98%, not 4%, because the money is only invested for half a year.
Is CD interest taxable?
Yes, as ordinary income. The bank reports it on Form 1099-INT. Under IRS Publication 550, interest on a CD with a term over one year is generally taxed a portion each year, even though you do not receive it until maturity. An early-withdrawal penalty you pay can be deducted.
What happens if I withdraw early?
Most banks charge a penalty equal to a set number of months of interest, and the number usually rises with the term. On a short CD the penalty can take most of the interest earned. A no-penalty CD or a high-yield savings account is a better fit if you might need the money.
What is a CD ladder?
A ladder splits your money across CDs that mature at different times, for example one, two, three, four and five years. Each year one CD matures and you can spend it or roll it into a new 5-year CD. You earn closer to long-term rates while some money becomes available every year.
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