💰 CD Calculator
Calculate your certificate of deposit earnings with our free CD calculator. Enter your deposit amount, APY, and term to see your potential returns and maturity date.
CD Details
Calculation Results
Maturity Amount
$0.00
Interest Earned
$0.00
Effective Annual Rate
0.00%
Maturity Date
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Frequently Asked Questions
A Certificate of Deposit is a time deposit offered by banks and credit unions that pays a fixed interest rate for a specific term. You agree to leave your money deposited for the entire term in exchange for a guaranteed return.
CD interest is calculated using compound interest formula: A = P(1 + r/n)^(nt), where P is principal, r is annual interest rate, n is compounding frequency, and t is time in years.
Most CDs have early withdrawal penalties that can eat into your earnings. The penalty varies by bank and term length, typically ranging from a few months to a year's worth of interest.
APY (Annual Percentage Yield) includes the effect of compounding, while the interest rate doesn't. APY gives you a more accurate picture of what you'll actually earn.
Yes, CDs from FDIC-insured banks are protected up to $250,000 per depositor, per bank. This makes them one of the safest investment options available.
Minimum deposits vary by bank, typically ranging from $500 to $2,500 for standard CDs. Some banks offer CDs with no minimum deposit requirement.
Most traditional CDs don't allow additional deposits after opening. However, some banks offer "add-on CDs" that permit additional deposits during the term.
Consider your financial goals, when you'll need the money, and interest rate environment. Longer terms typically offer higher rates but less flexibility. Consider CD laddering for better liquidity.
⚠️ Disclaimer
This CD calculator is for educational and informational purposes only. The results are estimates based on the information you provide and should not be considered as financial advice. Actual CD rates, terms, and conditions may vary by financial institution. Always consult with a qualified financial advisor and verify current rates with your bank or credit union before making investment decisions.