{
    "name": "CD Calculator",
    "url": "https://calculators.geekmidst.com/calculators/cd-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/cd-calculator.md",
    "category": "Finance",
    "description": "Calculate what a certificate of deposit is worth at maturity from the deposit, rate (APY or APR), compounding and term in months, before and after tax.",
    "summary": "A CD pays a fixed rate for a fixed term. Enter the rate as the bank quotes it, APY or APR with its compounding, to see the interest you will earn by maturity.",
    "also_called": [
        "Certificate of deposit calculator",
        "Term deposit calculator"
    ],
    "applies_to": "Worldwide",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "deposit",
            "label": "Deposit",
            "type": "number",
            "default": "10000"
        },
        {
            "name": "rate",
            "label": "Rate",
            "type": "number",
            "default": "4",
            "unit": "%"
        },
        {
            "name": "rate_type",
            "label": "Rate quoted as",
            "type": "segmented",
            "default": "apy",
            "options": {
                "apy": "APY (annual yield)",
                "apr": "APR (nominal rate)"
            }
        },
        {
            "name": "compounding",
            "label": "Compounding (for APR)",
            "type": "select",
            "default": "12",
            "options": {
                "1": "Yearly",
                "2": "Half-yearly",
                "4": "Quarterly",
                "12": "Monthly",
                "365": "Daily"
            },
            "shown_when": {
                "rate_type": "apr"
            }
        },
        {
            "name": "months",
            "label": "Term",
            "type": "number",
            "default": "12",
            "unit": "months"
        },
        {
            "name": "tax",
            "label": "Tax rate on interest",
            "type": "number",
            "default": "0",
            "unit": "%",
            "optional": true
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "currency",
            "default": "USD"
        }
    ],
    "outputs": [
        {
            "key": "final",
            "label": "Value at maturity",
            "format": "currency"
        },
        {
            "key": "interest",
            "label": "Interest earned",
            "format": "currency"
        },
        {
            "key": "apy",
            "label": "APY",
            "format": "percent"
        },
        {
            "key": "after_tax_interest",
            "label": "Interest after tax",
            "format": "currency"
        }
    ],
    "formula": {
        "text": "APY = (1 + APR ÷ k)^k − 1;  Value at maturity = Deposit × (1 + APY)^(months ÷ 12)",
        "variables": {
            "APR": "nominal annual rate",
            "k": "compounding periods per year",
            "APY": "annual percentage yield (effective annual rate)"
        }
    },
    "worked_example": {
        "inputs": {
            "deposit": "10000",
            "rate": "5",
            "rate_type": "apr",
            "compounding": "12",
            "months": "12",
            "tax": "0",
            "currency": "USD"
        },
        "steps": [
            "APY = (1 + 0.05 ÷ 12)^12 − 1 = 5.116%.",
            "Value = 10,000 × 1.05116 = 10,511.62 after 12 months."
        ],
        "result": "A $10,000 one-year CD at 5% APR compounded monthly (5.116% APY) matures at $10,511.62."
    },
    "interpretation": "Compare CDs by APY, which already includes compounding. Before locking money in, check the early-withdrawal penalty: it is often several months of interest.",
    "assumptions": [
        "Interest is left in the CD and compounds until maturity.",
        "For terms that are not whole compounding periods, interest is pro-rated using the APY.",
        "Tax, if entered, is a flat rate on the interest."
    ],
    "limitations": [
        "Early-withdrawal penalties are not modelled.",
        "Some CDs pay interest out instead of compounding it, which earns slightly less."
    ],
    "rules": null,
    "faqs": [
        {
            "question": "What is the difference between APY and APR?",
            "answer": "APR is the nominal rate before compounding. APY includes the effect of compounding over a year, so it is the better figure for comparing accounts."
        },
        {
            "question": "Are CDs insured?",
            "answer": "In the US, CDs at FDIC-insured banks and NCUA-insured credit unions are covered up to the insurance limits. Check the institution’s status before you deposit."
        }
    ],
    "sources": [
        {
            "title": "FDIC",
            "url": "https://www.fdic.gov/"
        }
    ],
    "related": [
        {
            "name": "Savings Calculator",
            "url": "https://calculators.geekmidst.com/calculators/savings-calculator"
        },
        {
            "name": "Compound Interest Calculator",
            "url": "https://calculators.geekmidst.com/calculators/compound-interest-calculator"
        },
        {
            "name": "Simple Interest Calculator",
            "url": "https://calculators.geekmidst.com/calculators/simple-interest-calculator"
        },
        {
            "name": "Inflation Calculator",
            "url": "https://calculators.geekmidst.com/calculators/inflation-calculator"
        }
    ],
    "disclaimer": "This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ.",
    "publisher": "GM¹X CalcVerse"
}