See how your savings grow with this APY calculator. Enter your deposit, interest rate, compounding frequency, and term for an instant estimate of your yearly return.
A certificate of deposit (CD) is a savings product that earns interest on a fixed lump sum over a set period. This CD calculator helps you estimate how your deposit grows by considering the initial amount, interest rate (APR), compounding frequency, and term length.
Supporting multiple compounding frequencies like yearly, monthly, weekly, and daily, this tool provides an accurate forecast of your final balance. It also updates the annual percentage yield (APY) automatically based on the APR, helping you understand true earnings.
Unlike simple interest calculators, this CD calculator uses compound interest formulas to reflect how interest accumulates on both your initial deposit and previously earned interest, depending on compounding frequency.
Whether saving short-term or long-term, this calculator helps you compare offers from banks and credit unions, giving you a clear picture of potential growth and helping you make informed financial decisions.
Designed for savers and financial planners alike, this tool provides instant, easy-to-understand results for your CD investment, including the impact of compounding and time on your returns.