How the CD calculator works
The estimate applies the entered APY over the selected portion of a year. APY is useful for comparing deposit products because it incorporates the effect of compounding into one annual figure.
What to compare before opening a CD
- APY and how long it is guaranteed
- Early-withdrawal penalties
- Minimum and maximum deposit rules
- Whether the deposit automatically renews
- Deposit-insurance eligibility and limits
CD calculator questions
Is APY the same as the interest rate?
No. APY incorporates compounding, while a stated nominal interest rate may not.
Does this include early-withdrawal penalties?
No. Penalty terms differ by financial institution and product.
Educational estimate only. This is not a bank quote, deposit recommendation, tax calculation or guarantee of earnings.