What happens if I withdraw early?

Most banks charge an early withdrawal penalty, often several months of interest, which this calculator does not account for.

Is CD interest taxable?

Yes, in a standard (non-retirement) account, CD interest is generally taxable income in the year it's earned or credited, even if you don't withdraw it.

CD Calculator

Calculate how much a certificate of deposit will be worth at maturity.

Deposit amount ($)

APY (%)

Term (months)

Compounding

Value at maturity Enter your numbers above

Assumes a fixed APY held to maturity with no early withdrawal. Actual bank terms vary.

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How CD interest is calculated

A Certificate of Deposit (CD) pays a fixed Annual Percentage Yield (APY) if held to maturity. This calculator compounds your deposit at your chosen frequency over your CD's term to project its value when it matures.

Frequently asked questions

What happens if I withdraw early?: Most banks charge an early withdrawal penalty, often several months of interest, which this calculator does not account for.
Is CD interest taxable?: Yes, in a standard (non-retirement) account, CD interest is generally taxable income in the year it's earned or credited, even if you don't withdraw it.