CD and Savings Calculator
Project a U.S. CD or high-yield savings balance from APY, term, and optional monthly deposits. See interest at the end of the term.
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APY illustration only. Early-withdrawal penalties, teaser rates, and tax on interest are not subtracted.
A CD is a term and an APY, not a mystery rate
Banks advertise a certificate of deposit as a locked deposit plus a published APY. High-yield savings uses the same compounding idea without the lock. This calculator turns APY, term, and an optional monthly add-on into an ending balance.
It is not a brokered-CD ladder builder and not a comparison-shop of 40 banks.
How the growth is calculated
The starting deposit grows as principal × (1 + APY)^years. Monthly add-ons (if any) use the equivalent monthly rate implied by that APY. The interest line is ending value minus everything you put in.
If the APY changes after a teaser month, the real balance will miss this number. Use the rate you believe you will keep, not the banner rate that expires.
How to use it
Paste the APY and term from the account you are actually opening. Leave monthly at zero for a classic CD. For an emergency-fund savings habit, add the amount you can send every payday.
Then run the inflation calculator on the same years. A 4% APY in a 3% inflation year is a small real gain, not a fortune.
When a CD is the wrong tool
Money you will need before the maturity date does not belong in a penalty CD. Money you will not need for decades may belong in a retirement account with a different tax wrapper—use the IRA or 401(k) pages.
FDIC / NCUA insurance has per-bank limits. Splitting large cash across institutions is an operations problem, not something this math page solves.
Typical examples
| Input | Result |
|---|---|
| $10,000 at 4.25% APY for 12 months | About $10,425 |
| $25,000 at 4% APY for 5 years | About $30,416 |
| $200 / month into 4% savings for 3 years | Deposits plus interest |
Frequently asked questions
- What is APY vs APR on a savings product?
- APY is the yearly yield including compounding. Paste the APY from the bank’s page. $10,000 at 4.25% APY for one year is $10,425 before tax.
- Can I add money to a CD every month?
- Usually no. Most CDs lock the opening deposit. Use the monthly field for a high-yield savings account or an add-on CD that explicitly allows it.
- What happens if I break a CD early?
- The bank typically keeps a slice of interest (often 90–180 days). This page shows the full-term value, not the penalty.
- Is the interest taxable?
- Generally yes, in the year it is credited, even if you do not withdraw it. The result is pre-tax.
- Should I use a CD or pay a loan?
- If a credit card or student loan rate is higher than the APY after tax, extra principal usually wins. Run the payoff calculators with the same monthly dollars.
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