CD Calculator
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A Certificate of Deposit (CD) calculator projects the final value and interest earned when you deposit a lump sum at a fixed interest rate for a set term. CDs are FDIC-insured and offer guaranteed returns — higher rates than savings accounts in exchange for locking up funds.
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Tip: Compare APY (Annual Percentage Yield), not APR. APY accounts for compounding — a 5% rate compounded daily gives a 5.13% APY.
- 1Final value = Principal × (1 + r/n)^(n×t)
- 2r = annual interest rate, n = compounding periods per year, t = years
- 3Most CDs compound daily or monthly
- 4Withdrawing early incurs a penalty (typically 3–12 months of interest)
$10,000, 5% APY, 1 year, monthly compounding=$10,511.62$511.62 interest earned
$25,000, 4.5% APY, 2 years, daily compounding=$27,327.96$2,327.96 earned risk-free
| Product | Typical APY | FDIC insured | Liquidity |
|---|---|---|---|
| High-yield savings | 4.5–5.0% | Yes | Immediate |
| Money market account | 4.0–5.0% | Yes | Immediate |
| 3-month CD | 4.5–5.2% | Yes | At maturity |
| 1-year CD | 5.0–5.5% | Yes | At maturity |
| 5-year CD | 4.0–4.5% | Yes | At maturity |
| Treasury bills (1yr) | ~5.0% | Gov't backed | Liquid (secondary) |
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Fun Fact
CD laddering is a strategy where you split money across CDs with different maturities (e.g., 1yr, 2yr, 3yr). As each matures, you reinvest at the longest term, maintaining liquidity while earning higher long-term rates.
References
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