Certificate of deposit interest calculator

A certificate of deposit, or CD, is a type of high-interest savings account that is closed for withdrawals or deposits for the length of time that you choose. Interest is calculated at a fixed rate, and any payments made while the term is in place are made to a separate account, allowing you to know precisely how much you earn.

If you have a particular goal in mind that you are trying to reach, a CD calculator can help you determine how much you need to deposit and for how long the terms should be in order to reach that goal. Being that the rates are fixed, and not subject to change while your money is locked up, it is easy to determine how much interest you’ll earn by using the calculator.

How do I use the CD calculator?

Fill in the relevant fields with the correct information to get the details you need to help you decide which certificate of deposit to choose.

• Deposit amount. This is the amount of money you plan to save in the CD.
• Interest rate. Input the listed interest rate for the certificate of deposit you’re investigating. Pay attention to the details, as in most cases that amount will be different depending on a number of factors, including the length of the term, how much you deposit and how often you’re receiving interest payments.
• Length of time. This is the number of years you’ll be saving for. You can enter a fraction of a year if your CD term is something like 6 months or 18 months.

Use current CD rates to calculate

Sort by:

Name	Product	1-year APY	18-month APY	2-year APY	3-year APY	5-year APY
CIT Bank Term CDs		1.8%	1.85%	1.4%	1.3%	1.7%	Go to site More Info	Compare	loading Fetching your data...
Radius Bank CDs		1.55%	1.6%	1.7%	1.85%	2.2%	Go to site More Info	Compare	loading Fetching your data...
BBVA CD		1.5%	1%		1%		Go to site More Info	Compare	loading Fetching your data...
Discover CDs		2%	2%	2.05%	2.05%	2.1%	More Info	Compare	loading Fetching your data...
Barclays Online CDs		2%	2%	2%	2%	2.1%	More Info	Compare	loading Fetching your data...
Ally High Yield CDs		2%	2.05% on CDs of $25,000+ — 2% on CDs of $5,000 to $24,999 — 1.9% on CDs of $0 to $4,999		2.1% on CDs of $25,000+ — 2.05% on CDs of $5,000 to $24,999 — 1.95% on CDs of $0 to $4,999	2.15%	More Info	Compare	loading Fetching your data...

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Bottom line

A certificate of deposit can help you grow your savings in a low-risk and predictable way. The longer your term length, the more money you’ll earn — especially if you get a CD with a top-of-the-market interest rate.

Frequently asked questions

• Will the amount shown on the calculator be exactly the same as the amount of interest I earn?

  CDs earn interest at a predictable rate, so it should be accurate. However, there may be other factors not taken into consideration that could affect the amount of interest paid to you, such as ongoing fees associated with the CD you pick.

• The term I chose is for 30 months. How should I enter that?

  The calculator recognizes terms in years, not months. For example, in this case you would choose a 2.5-year term for 30 months.

• I want to make at least $500 in interest; how would I figure that out?

  You would have to play with the numbers that you insert into the field, particularly the length of terms as this is the option you have the most control over, until you come out with the earnings you want.

• Can I use this calculator for a regular savings account?

  No, a high-interest savings account may have additional considerations. To get the most accurate prediction for interest earned on your savings account, use our savings account calculator.