CD Calculator
CD ending balance + interest earned for any APY and term.
Value at maturity
$10,410
- You deposit
- $10,000
- Interest earned
- $410.00
- Effective APY
- 4.10%
Locking $10,000 away for 12 months earns $410.00. Most CDs charge 3–12 months of interest if you withdraw early — keep money you might need in a high-yield savings account instead.
Try a what-if
Today's CD rates
Live rates coming soon
Top online-bank 12-month CD APY currently around 4.10%. Rates change frequently — once our real-time rate feed is wired up, this panel will show current top offers across terms.
Source: FDIC + reported top online CD rates (May 2026). See sources panel.
Your numbers
Next steps
The CD Calculator computes the maturity value of a Certificate of Deposit from initial deposit, APY, and term. Banks quote CDs in APY (Annual Percentage Yield), which is already the effective annual return after compounding — so the math is independent of compounding cadence. Top online banks currently offer 4–5% APY on 6–18 month CDs in 2026; brick-and-mortar bank rates are meaningfully lower.
How this calculator works
- Enter the deposit amount. CDs typically require $500–$2,500 minimum; some online banks have no minimum.
- Enter the APY the bank is offering. Comparison-shop — top online banks meaningfully outpace local bank rates.
- Choose the term length. Short-term CDs (3–18 months) currently pay similar or higher rates than long-term CDs.
- Compare with a high-yield savings account before locking in. If HYSA rates are within 0.5% of the CD, the savings flexibility usually wins for sub-2-year horizons.
A = P × (1 + APY)^tCompound interest with the APY directly — no need to convert to a nominal rate because APY is already the effective annual yield. Term in years. Early withdrawal forfeits 3–12 months of interest, depending on the bank's terms.
- A
- Maturity value
- P
- Principal (initial deposit)
- APY
- Annual Percentage Yield (effective annual return)
- t
- Term in years
Frequently asked questions
What's a typical CD rate?
Top online banks offer 4-5% APY on short-term CDs (3-12 months) in 2026. Long-term CDs (3-5 years) typically pay slightly less, reflecting the bank locking in your money. Compare top online rates — they meaningfully exceed brick-and-mortar bank CD rates.
Early withdrawal penalty?
Most CDs charge a penalty of 3-12 months of interest if you withdraw before maturity. Always check the early-withdrawal terms before opening — if there's any chance you'll need the cash, a no-penalty CD or HYSA is usually better.
CD ladder strategy?
Buy CDs that mature in staggered intervals (e.g., 1, 2, 3, 4, 5 years). As each matures, reinvest at the longest rung. You capture average rates over time and always have liquidity in the near term. Useful when you don't want to time the rate market.
Sources used in this calculator
Reviewed by the Money Scale editorial team. How we source our data
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