CD Calculator
CD calculator: see how much a certificate of deposit earns at your rate and term, with the APY, interest earned and ending balance.
Editorial review: Farrow (pseudonym; identity and professional credentials are not disclosed). This page is for educational purposes, not professional advice.
Your inputs
Results update as you type. Nothing you enter leaves your device.
Results
- Interest earned
- $460.25
- APY
- 4.602%
Example with the starting values
These results use the calculator's initial inputs. Change the values above to calculate your own estimate.
Inputs
- Deposit
- 10000 $
- Interest rate
- 4.5 %
- Term
- 12 months
- Compounding
- Daily
Results
- Ending balance
- $10,460.25
- Interest earned
- $460.25
- APY
- 4.602%
How to estimate a CD balance
Enter the deposit and rate
Enter the initial deposit and annual interest rate.
Choose a term and compounding frequency
Enter the CD term in months and select daily, monthly, quarterly or yearly compounding.
Review the estimate
Review the estimated ending balance, interest earned and APY. The estimate does not subtract early-withdrawal penalties or taxes.
How does the CD Calculator work?
A CD pays a fixed rate for a fixed term. The ending balance is P × (1 + r/m)^(m × t), where P is the deposit, r the annual rate, m the compounding periods a year and t the years. $10,000 at 4.5% compounded daily for one year grows to about $10,460.
APY is the real yearly yield after compounding, (1 + r/m)^m − 1. Early withdrawal normally costs several months of interest, which this calculator does not subtract.
Sources
Frequently asked questions
How much will $10,000 earn in a 1-year CD?
At 4.5% compounded daily, about $460 of interest, for a balance of roughly $10,460.
What is the difference between APY and the interest rate?
The rate ignores compounding. APY includes it, so APY is slightly higher than the stated rate when interest compounds more than once a year.
Is CD interest taxable?
Yes, as ordinary income, even if you leave it in the CD. Banks report it to the IRS on Form 1099-INT.
Can I lose money in a CD?
Not from market moves, and FDIC or NCUA insurance covers up to $250,000 per depositor per bank. Early withdrawal penalties can cut into interest.