Complete guide
CD calculator for interest, APY and maturity value
Enter deposit, stated annual rate, term and compounding frequency. Calculator24 reports maturity value, interest earned, equivalent APY and optional tax and inflation estimates.
How a CD earns interest
A fixed-rate CD generally pays interest while money remains deposited for an agreed term. More frequent compounding adds earned interest to the balance sooner.
CD compound-interest formula
The nominal annual rate is divided by the number of compounding periods.
A=P(1+r/n)^(nt)APY=(1+r/n)ⁿ−1Rate versus APY
The stated rate is the nominal input. APY incorporates compounding and provides a one-year comparison measure under the same balance assumptions.
Early withdrawal and renewal
FDIC guidance recommends reading the deposit agreement. Withdrawing before maturity can trigger a penalty, and automatic renewal may use a new rate or term.
Deposit insurance and tax
Certificates of deposit at FDIC-insured banks are deposit products, but coverage depends on bank and ownership category. Interest tax treatment depends on the saver; the entered tax rate is only a scenario.
Compounding choices
| Frequency | Periods/year |
|---|---|
| Daily | 365 |
| Monthly | 12 |
| Quarterly | 4 |
| Annually | 1 |
Frequently asked questions
Is a CD the same as a savings account?
Both are deposits, but a CD normally requires leaving funds for a specified term.
What is APY?
It is the annual percentage yield after compounding.
Are early-withdrawal penalties included?
No. Apply the institution's stated penalty separately.
Does FDIC insurance cover every CD?
Coverage requires an FDIC-insured bank and depends on ownership category and balances.
Is interest tax included?
Only as an optional estimate using the rate you enter.
What to keep in mind
Assumes a fixed rate and no withdrawals. Early-withdrawal penalties, renewal terms and bank-specific day counts are excluded.
Results display up to 8 decimal places; exported numbers preserve calculation precision. This is a calculation summary, not an official certificate.