1. Enter deposit and rate
Choose APY when the bank quotes annual percentage yield, or nominal rate when the contract specifies a compounding frequency.
Savings
CD calculator
Estimate a certificate of deposit maturity value using APY or a nominal rate, and model recurring deposits, withdrawals, interest payouts and tax.
Total value received
$10,500.00
Net interest
$500.00
Gross interest
$500.00
Estimated tax
$0.00
Total deposited
$10,000.00
Total withdrawn
$0.00
Effective annual rate
5%
Deposit schedule
Monthly opening balance, cash flows, interest and ending balance.
| Month | Starting balance | Deposit | Withdrawal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | $10,000.00 | $0.00 | $0.00 | $40.74 | $10,040.74 |
| 2 | $10,040.74 | $0.00 | $0.00 | $40.91 | $10,081.65 |
| 3 | $10,081.65 | $0.00 | $0.00 | $41.07 | $10,122.72 |
| 4 | $10,122.72 | $0.00 | $0.00 | $41.24 | $10,163.96 |
| 5 | $10,163.96 | $0.00 | $0.00 | $41.41 | $10,205.37 |
| 6 | $10,205.37 | $0.00 | $0.00 | $41.58 | $10,246.95 |
| 7 | $10,246.95 | $0.00 | $0.00 | $41.75 | $10,288.70 |
| 8 | $10,288.70 | $0.00 | $0.00 | $41.92 | $10,330.62 |
| 9 | $10,330.62 | $0.00 | $0.00 | $42.09 | $10,372.70 |
| 10 | $10,372.70 | $0.00 | $0.00 | $42.26 | $10,414.96 |
| 11 | $10,414.96 | $0.00 | $0.00 | $42.43 | $10,457.40 |
| 12 | $10,457.40 | $0.00 | $0.00 | $42.60 | $10,500.00 |
Early-withdrawal penalties, changing rates, bank-specific day counts and tax rules are not included. Verify the CD disclosure.
Calculation method
How CD growth is calculated
APY is converted to the monthly rate that produces the same annual yield. For a nominal rate, the selected compounding frequency is converted to a monthly equivalent. Each month the calculator adds interest and the entered cash flows.
Detailed guide
CD maturity value, APY and interest
A certificate of deposit earns interest for a stated term, usually with restrictions or penalties for early withdrawal. This calculator accepts APY or a nominal annual rate and estimates maturity value, gross interest, optional tax and monthly cash flows.
APY already represents the compounded one-year yield. A nominal rate requires a compounding frequency, so the calculator converts that frequency to an equivalent monthly rate.
Calculate CD growth
2. Set the exact term
Use years or months and add recurring deposits or withdrawals only when the product permits them.
3. Choose interest treatment
Model interest added to principal or paid out separately, and optionally estimate tax on gross interest.
APY and nominal-rate conversion
Monthly rate from APY = (1 + APY)^(1/12) − 1
For a nominal rate compounded m times per year, the monthly equivalent is (1 + nominal rate ÷ m)^(m/12) − 1.
Interest is calculated on the opening monthly balance. The modeled monthly contribution or withdrawal occurs afterward.
CD example
A $10,000 CD at 5% APY for one year grows by applying the monthly rate equivalent to 5% annual yield. Monthly deposits increase the contribution total, while optional tax reduces net interest at maturity.
Check the product disclosure
Early-withdrawal penalty
This calculator does not subtract a penalty. CDs can forfeit part of earned interest or principal when closed early.
APY versus interest rate
APY includes compounding. Do not select APY and then apply a separate compounding boost to the same quoted yield.
Renewal and rate changes
The model assumes one constant term and rate. Automatic renewal can start a new CD at a different rate.
Decision guide
Compare CDs by maturity value and access rules
Google’s CD results explain APY versus nominal rate, compounding frequency, early withdrawal, and laddering. The maturity value is only one part of the choice because access to the money and renewal terms can change the practical outcome.
Use APY and nominal rates consistently
APY incorporates the stated compounding effect for a year. A nominal annual rate requires the compounding interval to calculate the effective yield. Do not compound an APY again as though it were nominal. Compare products over the same holding period and deposit amount.
Read the early-withdrawal terms
A penalty can remove part of the interest and, in some products, affect principal. The calculator does not know an institution’s rules unless you model them separately. Emergency funds should remain accessible instead of depending on a CD reaching maturity.
Plan what happens at maturity
Auto-renewal may place the balance into a new term at a rate available later. Record the grace period and decide whether the money should be reinvested, spent, or moved. A ladder can spread maturity dates but does not guarantee future rates.
CD comparison
- Match rate type and compounding.
- Compare the same term.
- Review withdrawal penalties.
- Plan for the maturity date.
How to compare scenarios
Save a baseline, then change only one input at a time: amount, rate, term, or recurring payment. Record the supporting outputs as well as the headline result—contributions, interest, total cost, remaining balance, or target date. This isolates the assumption that actually changes the decision instead of hiding it inside several simultaneous edits.
Do not tune every assumption until the calculator produces a preferred answer. Start with a cautious case, follow with a central case, and treat the favorable case as an upside scenario. A calculator result is not a lender quote, market forecast, or tax determination; actual dates, rounding, fees, contract rules, and required payments must be checked in primary documents.
Keep enough precision in the inputs and round only the output used for a decision. If the estimate supports a transaction, loan, tax calculation, or long-term plan, repeat it with figures from the contract or official statement. Any difference helps identify the assumption that still needs verification.
CD calculator questions
What is the difference between APY and APR?
APY includes compounding over a year. A nominal annual rate does not until a compounding frequency is applied.
Can a CD accept monthly deposits?
Many traditional CDs do not. Use zero monthly deposits unless the specific add-on CD permits them.
Does the calculator include early-withdrawal penalties?
No. Review the bank disclosure and subtract the stated penalty separately.
Is CD interest taxable?
Tax treatment depends on account and jurisdiction. The optional tax rate is only a simplified estimate.
Data sources
Updated: July 28, 2026
Useful comparisons
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