Calculate a certificate of deposit’s estimated maturity value, total interest and effective APY using your deposit, rate, term and compounding method. You can use terms in months or years for short- or long-term CDs.
Compound interest, APY, future value and long-term savings-growth calculations.
Enter the opening deposit, choose whether your advertised rate is an APY or a nominal annual rate, enter the rate and term, and select the compounding frequency when applicable. The result estimates maturity value, interest earned and effective APY.
APY already includes the effect of compounding over a year. A nominal rate does not, so the compounding frequency matters. If your bank quotes APY, choose APY to avoid compounding the advertised yield a second time.
A one-year CD grows according to the quoted yield for one year. A five- or ten-year CD compounds for a longer period, so small rate differences can create larger differences in maturity value.
| CD term | Equivalent term | Calculator input |
|---|---|---|
| 1-year CD | 12 months | 1 year or 12 months |
| 5-year CD | 60 months | 5 years or 60 months |
| 10-year CD | 120 months | 10 years or 120 months |
Use the institution’s quoted APY when available. If you only have a nominal annual rate, select the nominal-rate option and choose the stated compounding frequency.
Use the APY calculator to convert a nominal rate to APY, the future value calculator for a general investment projection, or read compound interest vs. simple interest.
A $12,000 deposit earning a constant 4% APY for two years grows to $12,000 × 1.04² = $12,979.20. Switch the rate type to see how a nominal annual rate with periodic compounding differs.
What to check: A CD may have an early-withdrawal penalty, minimum deposit, and renewal rules. Quoted rates can vary by term, and income taxes are not deducted from this estimate.
Compare with the Apy calculator when that better matches the question you are trying to answer.
It is the estimated account balance at the end of the CD term before taxes, penalties or account-specific adjustments.
No. Penalties vary by institution and are not included.
See how formulas, sources and limitations are handled across ERICH Calculators.