CD Calculator: Interest Earned & Value at Maturity

Your estimate

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estimated value at maturity

Interest earned—
Interest after tax (estimate)—
Average interest per month—

Same APY at common terms

Interest earned by CD term
Term	Interest	Value

Estimates only. Figures are rounded and assume the inputs stay the same for the whole period.

Estimates only: Results are based on the numbers you enter and simplified assumptions. They are not a loan offer, rate quote or financial advice. Actual terms depend on the lender and your situation.

How to use the CD calculator

Enter the amount you plan to deposit, the annual percentage yield (APY) the bank or credit union is offering and the term in months. The calculator shows what the certificate will be worth at maturity and how much interest it will earn. Add your marginal tax rate to see a rough after-tax figure.

Is a CD right for your money?

A certificate of deposit pays a fixed rate for a fixed term in exchange for leaving the money untouched. That makes CDs useful for savings with a known date — a down payment next year, a tuition bill, a planned purchase — and for locking in a rate if you expect rates to fall.

Pros: predictable return, federal deposit insurance, no market risk.
Cons: early withdrawal penalties, and your rate will not rise if market rates go up.

Many savers build a CD ladder — splitting money across several terms so a portion matures regularly. Learn more in how CDs work, compare options on our CD accounts comparison, or weigh CDs against a high-yield savings account.

Frequently asked questions

How is CD interest calculated?

Banks quote CDs by APY, which already includes the effect of compounding over a year. The value at maturity is approximately deposit × (1 + APY)^(months ÷ 12). Interest is typically compounded daily or monthly and credited to the CD or paid out on a schedule you choose.

What happens if I withdraw from a CD early?

Most CDs charge an early withdrawal penalty, commonly a set number of months of interest. The penalty can exceed the interest earned if you withdraw very early. No-penalty CDs exist but usually pay a lower rate.

Is CD interest taxable?

Yes. CD interest is generally taxed as ordinary income in the year it is credited to your account, even if the CD has not matured. Your bank reports it on Form 1099-INT.

Are CDs FDIC insured?

CDs at FDIC-member banks are insured up to $250,000 per depositor, per insured bank, for each ownership category. Credit union share certificates have equivalent NCUA coverage.

Learn more

How Does a CD Work? Certificates of Deposit Explained — How certificates of deposit work: fixed rates and terms, early withdrawal penalties, maturity, CD ladders and how CDs compare with high-yield savings.
How Compound Interest Works (With Formula and Examples) — How compound interest works: the formula explained step by step, how time and compounding frequency affect growth, and how it works against you on debt.
What Is APY? Annual Percentage Yield Explained With Examples — What APY means, how annual percentage yield is calculated, how it differs from APR and interest rate, and how to use APY to compare savings accounts and CDs.