DollarWise

Free CD Calculator

October 12, 2026 · 3 min read · By the DollarWise team

How it works

Enter the amount you plan to deposit into a certificate of deposit, the APY the bank is offering, and the term. The calculator shows exactly what the CD will be worth at maturity, how much interest you earn, and the calendar date the CD matures.

CD Calculator

Know exactly what your CD will be worth at maturity — and the date it gets there.

100% Free Forever No Sign-up No Credit Card Private — files never leave your browser Unlimited Use

1 Your deposit

APY already includes compounding — it is the rate banks must advertise for CDs.

2 Term length

3 See your maturity value

💿 Your CD at maturity

🎉 Free forever. No sign-up. No credit card. No limits.

This tool runs entirely in your browser — compare as many CD offers as you like.

How the math works

Because APY already includes the effect of compounding, the math is a single step: maturity value = deposit × (1 + APY)^(months ÷ 12). A $10,000 CD at 5% APY for 12 months grows to exactly $10,500. One catch the formula cannot show: withdrawing before maturity usually triggers an early-withdrawal penalty of 3–6 months of interest, which can erase your earnings — only lock up money you will not need during the term.

Everyday uses

  • Comparing bank offers: line up two CDs with different APYs and terms and see the actual dollar difference.
  • Building a CD ladder: check what each rung pays so money matures on a regular schedule.
  • Saving for a dated goal: match a CD’s maturity date to a tuition bill, tax payment, or down payment deadline.

Frequently asked questions

What happens if I withdraw from a CD early? The bank charges an early-withdrawal penalty, typically 3–6 months of interest depending on the term. On a brand-new CD the penalty can even eat into your principal, so treat the maturity date as a real commitment.

Is CD interest taxed? In the US, yes — CD interest is taxed as ordinary income in the year it is earned, even if you leave it in the CD until maturity. Your bank sends a 1099-INT for interest over $10.

What is a CD ladder? Splitting your money across several CDs with staggered terms — say 1, 2, 3, 4, and 5 years. As each one matures you renew it at the longest term, so you get long-term rates while still having cash free up every year.