CD Calculator
Compare certificate of deposit (CD) offers side by side, see exactly how much interest each one earns, and build a CD ladder. Fast, free, and private. Your numbers never leave this page.
Compare CDs
Enter up to 8 CD offers. We calculate the maturity value and total interest for each using A = P(1 + r/n)nt, then rank them.
CD Ladder Builder
A CD ladder spreads your money across CDs that mature in different years, so some cash frees up every year while the rest keeps earning. Enter a total deposit and an APY for each rung.
| Rung (term) | Deposit | APY | Maturity value | Interest earned |
|---|---|---|---|---|
| Total |
Ladder diagram
How CDs and compounding work
A certificate of deposit (CD) is a savings account with a fixed term. You agree to leave your money untouched for a set period, from a few months to several years, and the bank pays you a fixed interest rate in return. Rates on CDs are usually quoted as APY, the annual percentage yield.
Compounding is what makes the money grow. The bank adds interest to your balance on a schedule, daily, monthly, quarterly, or annually, and the next interest payment is calculated on the new, larger balance. Interest earns its own interest. More frequent compounding grows your money a little faster, which is why this calculator asks for it.
The math: A = P(1 + r/n)nt, where P is your deposit, r is the annual rate, n is the number of compounding periods per year, and t is the term in years.
A CD ladder is a simple strategy for regular savers. Instead of locking all your money into one long CD, you divide it into rungs with staggered maturity dates, for example five equal CDs with 1, 2, 3, 4, and 5 year terms. Each year one rung matures, so you always have cash becoming available, which you can spend or roll into a new 5-year CD at the current rate.
Two things to check before you open a CD: the early withdrawal penalty, which banks charge if you take the money out before maturity, and FDIC or NCUA insurance, which protects your deposit up to the legal limit if the institution fails.
Not financial advice. This tool provides educational estimates only and is not financial advice. Rates and terms vary by institution; confirm all figures with your bank before opening an account.