CD Calculator | Certificate of Deposit Calculator

A Certificate of Deposit (CD) is an investment product that has a fixed interest rate and a fixed maturity rate. If the investor tries to cash in their CD before the CD's maturity date then they are charged early withdrawal fees and penalties. This severely limits the profit margin for the CD, and in some cases it may even create a loss for the investor. These fees are used to discourage early cash outs.

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Why use the Certificate of Deposit Calculator?

The purpose of the Certificate of Deposit (CD) Calculator is to illustrate how much interest a particular CD will earn. This tool you will take into consideration your initial deposit amount, interest rate, the number of months the CD will be held for, and how often the interest is compounded. Using this information, the calculator will produce a result displaying the total annual yield, the annual percentage yield, and the ending balance of your investment, assuming that you decide not to withdraw any money before the investment term ends.

This is particularly useful information to know if you have a set amount in mind which you are trying to save. Just tap in the information and the calculator will tell you if this method of investment and saving will help you reach your goal. Alternatively, the calculator is useful if you have recently obtained some money and want to compare the amounts you will receive over varying terms.

How to use The Certificate of Deposit Calculator

Not sure where to start? Let us help you:

Input your initial deposit by typing into the box or moving the slider – this is the amount that you would like to save from the start
Enter the length of time you intend to save for, in months – remember that withdrawing early can result in penalties
Specify the interest rate you have been offered, or intend to save at
Choose the type of interest from the drop-down
Click View Report to see a breakdown of your projected interest throughout the term of your CD.

Who is this Calculator for?

This calculator is most useful if you:

Want to compare the interest you will receive on different CDs, depending on term length, interest and amount saved
Are considering a Certificate of Deposit (CD) but are not yet sure if it will yield enough interest for you over the term to justify itself
Already have a CD and want to see how much you will have by the end of the term.

How can I ensure I get the highest possible return on my investment?

To get the best return on your money, your need to first of all establish which financial institution offers the best interest rates and the longest maturity rate. In order to get the highest interest rates you should invest an amount that is in the highest interest rate tier. As a general rule of thumb, the more money you initially invest the higher your interest rate will be, and obviously, the more profit you stand to potentially receive on your investment.

The return is too low and I’d like to invest in property instead – where do I start?

Investing in property is a highly worthy alternative use of a lump sum. Click "Get Free Quote" at the top of your screen to be taken through a brief set of questions. We'll put you in touch with lenders who will evaluate your information to provide you with personalized rate quotes on for a mortgage loan meeting your requirements. It's easy -try it and see!