CD & Savings Calculator

See what a certificate of deposit or savings deposit grows to at maturity, the interest you'll earn, and the true APY behind a stated rate. Enter your deposit, the rate, how often it compounds and the term. Updates as you type.

APR, APY and maturity

The stated APR becomes a higher effective APY once compounding is applied:

APY = (1 + APR/n)ⁿ − 1

maturity = principal × (1 + APR/n)^n×t

where n = compounds per year, t = term in years.

• Compare accounts by APY, not APR — APY already bakes in the compounding.
• Longer terms earn more in total but lock your money up; check early-withdrawal penalties.
• Interest is usually taxable in the year earned — the figures here are before tax.

This is an educational estimate before tax and fees, assuming a fixed rate held to maturity. Not financial advice.

FAQ

What is the difference between APR and APY?

APR is the stated annual interest rate before compounding. APY (annual percentage yield) is the effective rate after compounding is applied, so it is slightly higher. For a 5% APR compounded monthly, the APY is about 5.12%. APY is the number that tells you what you actually earn in a year.

How is a CD maturity value calculated?

It uses compound interest: maturity = principal × (1 + APR/n)^(n×t), where n is the number of compounding periods per year and t is the term in years. The calculator also shows this as principal × (1 + APY)^t, which gives the same result.

Does compounding frequency change how much I earn?

Yes, but only a little. More frequent compounding (monthly or daily) produces a slightly higher APY and maturity value than annual compounding at the same APR. The stated rate and the term matter far more than whether it compounds monthly or daily.

Is CD interest taxed?

In most places, interest earned on a CD or savings account is taxable income in the year it is earned, even if you do not withdraw it. This calculator shows the gross interest before any tax — check your local rules for the after-tax figure.

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