CD Calculator
See the maturity value and interest on a certificate of deposit at a fixed rate.
A certificate of deposit locks a fixed rate for a set term, so its value at maturity is known up front. A $10,000 CD at a 4.5% APY for 2 years matures at about $10,920, earning roughly $920 in interest. Withdrawing early usually forfeits several months of interest as a penalty. Enter your deposit, rate, and term to see the maturity value.
These results are estimates for informational purposes only and are not financial, tax, or legal advice. Your actual figures from a lender or the IRS may differ. Consult a qualified professional before making decisions.
Future value after 2 years
$10,939.90
What you put in vs. interest earned
Balance by year
| Year | You put in | Interest | Balance |
|---|---|---|---|
| 1 | $10,000 | $459 | $10,459 |
| 2 | $10,000 | $940 | $10,940 |
About the CD Calculator
A certificate of deposit trades access for certainty: you agree to leave a lump sum untouched for a fixed term, and in return the bank guarantees a fixed rate for the whole period. Because both the rate and the term are locked, the maturity value is knowable the day you open it, which this calculator shows along with the interest earned. The rate is quoted as an APY, so it already includes compounding. The cost of that certainty is liquidity. Take the money out before the term ends and you typically pay an early-withdrawal penalty — often several months of interest, and on longer CDs sometimes a year's worth — which can eat into or even exceed what you earned. CDs are FDIC-insured up to the legal limit, making them very low risk, and they tend to pay more than a regular savings account precisely because your money is committed. A common tactic is a CD ladder: splitting the money across several terms so a portion matures each year, keeping some always within reach while still capturing longer-term rates.
Frequently asked questions
How is a CD different from a savings account?+
A CD locks a fixed rate for a fixed term and penalizes early withdrawal, while a savings account has a variable rate and lets you withdraw anytime. CDs usually pay more in exchange for committing the money.
What happens if I withdraw from a CD early?+
You generally pay an early-withdrawal penalty, commonly a set number of months of interest. On longer terms the penalty is larger and can exceed the interest earned so far, reducing your principal.
What is a CD ladder?+
Splitting your money across CDs of different terms — say one, two, and three years — so one matures each year. It keeps part of your money regularly accessible while still earning longer-term rates.
Is CD interest guaranteed?+
Yes, for the term. The rate is fixed when you open the CD, so the maturity value is fixed too, and the deposit is FDIC-insured up to $250,000 per depositor, per bank.