CD calculator (fixed-term deposit)
Interest and maturity value of a certificate of deposit or fixed-term savings bond.
About the cd calculator (fixed-term deposit)
Interest and maturity value of a certificate of deposit or fixed-term savings bond.
Part of SmartCalcy’s investing & savings tools. It runs in your browser with no account, uses your own currency and units (change them at the top of the page), and gives estimates for information only, so check official guidance before you rely on a result.
How to use the cd calculator (fixed-term deposit)
What it calculates and when to use it
Calculates the interest and maturity value of a certificate of deposit or a fixed-term savings bond.
How to use it, step by step
- Enter the deposit, interest rate and term in months.
- Choose how often interest compounds.
- Add a tax rate if interest is taxable.
What each input means
- Compounding – How often interest is added to the balance.
- Term – The months you agree to leave the money in.
How to read the results
- Value at maturity – Deposit plus interest after tax.
- APY – The yield over a full year, including compounding.
The formula
Maturity = deposit × (1 + rate ÷ m)^(m × years). APY = (1 + rate ÷ m)^m − 1. m is the compounding periods per year.
A worked example
10,000 at 4.5% compounded daily for 12 months matures at 10,460.25, earning 460.25. The APY is 4.602%.
Assumptions and limits
- The rate is fixed for the term.
- Early withdrawal penalties are not modelled.
Common mistakes
- Comparing nominal rates with different compounding. Compare APY.
Frequently asked questions
Are CDs safe?
Deposits are protected up to national limits such as FDIC in the US and FSCS in the UK, subject to conditions.
Related tools
Details
- APY
- 4.602%what the rate yields over a full year
- Interest before tax
- £460.25
- Interest per month, on average
- £38.35