Overview
Enter an initial deposit, a nominal annual interest rate (APR), a term in years, and how often interest compounds - daily, monthly, quarterly, semi-annually, or annually - to calculate a Certificate of Deposit's ending balance at maturity: balance = deposit × (1 + APR/n)^(n × years), where n is the number of compounding periods per year. This is the same compounding formula behind apy-calculator, extracted into a shared helper so both tools stay consistent, but applied here to project a balance forward over a chosen term rather than just converting a rate. The rate you enter should be the nominal APR the CD compounds at, not an already-annualized APY - if a CD's rate is quoted as APY, selecting "Annually" as the compounding frequency treats it correctly, since an APY by definition already represents one full year's compounding. Useful for comparing CD offers with different terms, rates, or compounding schedules before committing funds. Runs entirely client-side, and this is an informational estimate, not financial advice - actual CDs may have early-withdrawal penalties, minimum balance requirements, or other terms this calculator doesn't model.
Best for: Comparing how much a Certificate of Deposit will be worth at maturity across different rates or terms
How to use this tool
- Enter the deposit, APR, and term. The initial deposit, the nominal annual interest rate, and the term length in years.
- Choose the compounding frequency. Daily, monthly, quarterly, semi-annually, or annually - matching how the CD actually compounds.
- Read the ending balance. The maturity balance and total interest earned, using balance = deposit × (1 + APR/n)^(n × years).
Frequently asked questions
Enter the nominal APR - the rate before compounding is applied. If your CD's rate is quoted as an already-annualized APY instead, select "Annually" as the compounding frequency, since an APY by definition compounds exactly once per year - entering an APY and then compounding it again at a different frequency would overstate the result.
No - this calculator models the pure compound-interest math (deposit, rate, term, and compounding frequency) assuming the CD is held to maturity with no withdrawals. Real CDs often carry early-withdrawal penalties, minimum opening balances, or other terms that this tool doesn't account for - check the specific CD's disclosure terms for those details.
More frequent compounding means interest is calculated and added to the balance more often, so each new calculation earns interest on a slightly larger base sooner. Daily compounding at a given APR will always produce a slightly higher balance than annual compounding at that same APR, though the difference is usually small for typical CD rates and terms.