CD Calculator
Calculate the maturity value and total interest earned on a certificate of deposit
Last updated: 2026-07-20
A certificate of deposit (CD) locks up a deposit for a fixed term in exchange for a fixed, guaranteed APY (Annual Percentage Yield) -- typically higher than a standard savings account, since the bank knows the money won't be withdrawn early. Because CD rates are advertised as APY, the compounding is already baked into the quoted rate, so growth over the term follows a simple compound-growth curve rather than needing a separate compounding-frequency input. This calculator shows the maturity value, total interest earned, and a month-by-month balance schedule for the life of the CD.
CD Maturity Value Formula
O(1) for maturity value, O(n) for the monthly scheduleA = maturity value, P = initial deposit, t = term in years (months ÷ 12)
Since the quoted APY already reflects the bank's compounding schedule, the maturity value is a straight compound-growth calculation over the term -- a 3-year CD at a 4% APY on a $10,000 deposit grows to $11,248.64, for example. This calculator doesn't model early-withdrawal penalties: most banks charge a penalty (commonly a number of months' interest, with a minimum set by federal law) for withdrawing before maturity, which would reduce the actual payout if the CD isn't held to term -- check your bank's specific penalty schedule before assuming the full maturity value is guaranteed on early withdrawal.
Use Cases
Comparing CD Offers
See the actual dollar maturity value and interest earned for a given deposit, APY, and term, rather than comparing rates alone.
Planning Around a Fixed-Income Goal
Work out how large a deposit (or how long a term) is needed to reach a target maturity value.
Tracking CD Growth Over Time
See the month-by-month balance schedule to know roughly how much interest has accrued at any point before maturity.
Choosing Between a CD and a High-Yield Savings Account
Compare a CD's guaranteed fixed APY against a variable-rate savings account's current APY (see our APY Calculator) to weigh the lock-up against flexibility.
Frequently Asked Questions
Why does this calculator only ask for APY, not a compounding frequency?
CD rates are advertised as APY specifically because it already accounts for the bank's internal compounding schedule -- there's no separate nominal rate to convert. If you have a nominal rate instead, use the APR to APY Calculator first to get the APY.
Does this calculator account for early withdrawal penalties?
No -- it shows the maturity value if the CD is held for its full term. Withdrawing early typically forfeits some interest as a penalty (federal law sets a minimum, but banks can charge more), so an early withdrawal would produce a lower payout than shown here.
Can I add money to a CD after opening it?
Most standard CDs don't allow additional deposits after opening (some "add-on" CDs do) -- this calculator assumes a single lump-sum deposit at the start of the term, which matches how most CDs work.
What happens when the CD matures?
At maturity you can withdraw the full balance, or many banks will automatically roll it into a new CD at the bank's then-current rate if you don't act within a grace period -- check your CD's specific maturity terms.
How is a CD different from a CD ladder?
This calculator models a single CD. A CD ladder splits a total investment across several CDs with staggered terms so portions mature (and can be reinvested or withdrawn) at regular intervals -- see our CD Ladder Calculator.
References
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