Personal FinanceFree Tool

CD Interest Calculator

Provided byBankrate Calculatorsbankrate.com

Computes interest earned from a Certificate of Deposit from rate, term, and compounding frequency.

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Screenshot of CD Interest Calculator on Bankrate Calculators
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About this tool

What CD Interest Calculator does

A CD Interest Calculator that lets users determine how much money they will have in a Certificate of Deposit at maturity. By entering an initial deposit, term length, and annual percentage yield, the tool computes both the final balance and the total interest earned over the full term. This helps individuals planning investments or managing savings accounts predict potential returns before committing funds, and compare different deposit options to understand how varying rates and terms affect earnings.

Step by step

How to use the Bankrate Calculators CD Interest Calculator

  1. 1

    Enter the initial deposit amount you will put into the CD

  2. 2

    Input the length of the CD's term in months or years

  3. 3

    Enter the annual percentage yield (APY) the CD earns

  4. 4

    View the total final balance including initial deposit and interest earned, plus a separate view of interest earned by maturity

Is it right for you

Best for

Savers and investors who want to compare different CD options and predict potential returns before committing funds to a Certificate of Deposit.

Limitations

  • APY values are estimates based on current market rates
  • No unit switching between months and years for term input
  • Results do not account for early withdrawal penalties or tax implications
Questions

CD Interest Calculator FAQ

Can I use this calculator for any type of CD?
The tool works with standard Certificate of Deposits that specify an annual percentage yield, but it does not factor in variable rate CDs or promotional teaser rates that may change after an initial period.
What is the difference between the final balance and interest earned views?
The final balance shows your initial deposit plus all interest earned by maturity, while the interest earned view displays only the total profit accumulated over the CD term.
How accurate are the interest calculations?
Calculations use the APY you enter and assume interest compounds according to the CD's terms; actual earnings may vary based on the specific compounding frequency and any fees charged by the financial institution.
Can I save my calculation for later comparison?
The site mentions a coming feature to save calculator inputs and results, but as of now there is no permanent save function available on the calculator page.
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