CD Calculator
Calculate your CD growth and total interest earned.
Calculator Inputs
Certificate of deposit (US)
US CDs are typically quoted in months (e.g. 6, 12, 24, 60).
Results
At maturity
Maturity Value
$10,500.00
Interest Earned
$500.00
Total Return (over term)
5%
Balance Over Time
Growth to maturity over 1 year
Principal vs Interest by Year
Interest earned each year (principal is fixed)
Yearly Breakdown
First 1 year. Download full schedule for all 1 year.
| Year | Balance | Interest (Year) | Cumulative Interest |
|---|---|---|---|
| 1 | $10,500.00 | $500.00 | $500.00 |
How It Works
Step-by-Step Guide:
- Enter Your Details
- Certificate of Deposit (US): Enter the amount you want to deposit (e.g., $10,000).
- Interest Rate (%): Enter the annual interest rate offered by your bank (e.g., 5).
- Term (Years): Enter how long you plan to keep your money in the CD (e.g., 10 years). Note: US CDs are often quoted in months, but this calculator uses years for simplicity.
- View Your Results
- Maturity Value: Shows your total balance at the end of the term, including interest.
- Interest Earned: The total interest paid over the CD’s life.
- Total Return: The percentage increase over your original deposit.
- Analyze Your Growth
- Balance Over Time: The chart illustrates how your CD grows each year, visually separating principal and interest.
- Principal vs. Interest by Year: See how much interest you earn each year, helping you understand compounding.
- Yearly Breakdown Table: Provides detailed figures for each year, useful for tracking progress or record-keeping.
- Export and Share
- Copy: Instantly copy your results to use elsewhere.
- Export PDF/Excel: Download your complete schedule for easy printing, sharing, or further analysis.
This calculator focuses on ease of use and practical results, helping you make confident decisions about your savings.
Understanding Certificates of Deposit (CDs)
A certificate of deposit (CD) is a type of savings account offered by banks and credit unions. When you open a CD, you agree to deposit a fixed amount of money for a set period, often measured in months or years. In return, the bank pays you interest, typically at a higher rate than regular savings accounts, as long as you leave your money in place until the CD matures.
People use CDs to safely grow savings for future needs, like buying a car, funding education, or building an emergency fund. Unlike stocks or mutual funds, CDs are low-risk and insured by the FDIC up to applicable limits. The main trade-off is reduced flexibility; withdrawing money early often incurs penalties. Understanding exactly how much you’ll earn by maturity helps you make informed choices about your savings goals.
How This Calculator Helps
This CD calculator takes the guesswork out of CD investing. By entering your initial deposit, annual interest rate, and the term (in years), you can instantly see:
- Maturity Value: The total amount your CD will be worth at the end of the term.
- Interest Earned: The total interest you’ll gain over the life of the CD.
- Total Return (%): The percentage growth over your original deposit.
- Balance Over Time: A visual chart showing how your funds grow each year.
- Yearly Breakdown: A table listing your balance, annual interest, and cumulative interest for each year.
These features help you compare options, plan for future expenses, and understand exactly how your money will grow without needing to do complicated math.