CD Calculator

Calculate How Much Interest You Can Earn

Understanding compounding methods and interest rates on different CDs can be confusing. Use this CD calculator to find out how much interest is earned on a certificate of deposit (CD). Just enter a few pieces of information and this CD calculator will calculate the annual percentage yield (APY) and ending balance. Determining the interest earnings from a particular CD is helpful in evaluating potential investments, Compare CD rates below.




Definitions

Initial deposit

The starting balance for your CD.

Months

The total number of months for this CD to mature.

Interest Rate

The published interest rate for this CD. Make sure to enter the actual interest rate, not the annual percentage yield (APY).

Compounding

Interest earned on your CD's accumulated interest. This calculator allows you to choose the frequency that your CD's interest income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. You may wish to check with your financial institution to find out how often interest is being compounded on your particular CD.

Annual percentage yield (APY)

This is the effective annual interest rate earned for this CD. A CD's APY depends on the frequency of compounding and the interest rate. Since APY measures your actual interest earned per year, you can use it to compare CD's of different interest rates and compounding frequencies.

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