Certificate of Deposit Calculator
Calculate your CD returns and compare different terms to maximize your savings potential
CD Calculator
Calculate your certificate of deposit returns with current market rates
Current market range: 0.5% (traditional banks) to 5.2% (online banks)
Enter your CD details to see the calculation results
Real Bank CD Rate Comparison
Compare actual CD rates from major US banks (updated December 2024)
Chase Bank
Bank of America
Marcus by Goldman Sachs
Ally Bank
| Term | APY | Final Amount | Interest Earned | Monthly Avg |
|---|---|---|---|---|
| 3 months | 0.5% | $10,012.51 | $12.51 | $4.17 |
| 6 months | 1% | $10,050.10 | $50.10 | $8.35 |
| 1 year | 2.5% | $10,252.88 | $252.88 | $21.07 |
| 2 years | 2.25% | $10,459.84 | $459.84 | $19.16 |
| 5 years | 2.5% | $11,330.01 | $1,330.01 | $22.17 |
| Term | APY | Final Amount | Interest Earned | Monthly Avg |
|---|---|---|---|---|
| 3 months | 0.45% | $10,011.25 | $11.25 | $3.75 |
| 6 months | 0.75% | $10,037.56 | $37.56 | $6.26 |
| 1 year | 2% | $10,201.84 | $201.84 | $16.82 |
| 2 years | 1.75% | $10,355.93 | $355.93 | $14.83 |
| 5 years | 2% | $11,050.79 | $1,050.79 | $17.51 |
| Term | APY | Final Amount | Interest Earned | Monthly Avg |
|---|---|---|---|---|
| 3 months | 4.75% | $10,119.22 | $119.22 | $39.74 |
| 6 months | 5.05% | $10,255.17 | $255.17 | $42.53 |
| 1 year | 5.15% | $10,527.33 | $527.33 | $43.94 |
| 2 years | 4.7% | $10,983.58 | $983.58 | $40.98 |
| 5 years | 4.25% | $12,363.02 | $2,363.02 | $39.38 |
| Term | APY | Final Amount | Interest Earned | Monthly Avg |
|---|---|---|---|---|
| 3 months | 4.25% | $10,106.63 | $106.63 | $35.54 |
| 6 months | 4.85% | $10,244.96 | $244.96 | $40.83 |
| 1 year | 5% | $10,511.62 | $511.62 | $42.63 |
| 2 years | 4.5% | $10,939.90 | $939.90 | $39.16 |
| 5 years | 4% | $12,209.97 | $2,209.97 | $36.83 |
💡 Key Insights
- • Online banks typically offer 3-4x higher rates than traditional banks
- • Short-term CDs (3-12 months) currently offer the best rates due to Fed policy
- • Traditional banks: Chase, BofA offer convenience but lower returns
- • Online banks: Marcus, Ally offer competitive rates with FDIC protection
Data Source: Rates are based on publicly available information from bank websites as of December 2024. Actual rates may vary and change frequently. Minimum deposit requirements may apply. Please verify current rates directly with the financial institution before making investment decisions.
🏦 Bank Categories Explained
- • Physical branch locations
- • Lower CD rates but full banking services
- • Established customer relationships
- • Higher CD rates due to lower overhead
- • FDIC insured, same protection
- • Digital-first banking experience
Understanding Certificates of Deposit
Learn the fundamentals of CD investing to make informed financial decisions
A Certificate of Deposit (CD) is a time deposit offered by banks and credit unions. You agree to leave your money deposited for a fixed period, and in return, you receive a guaranteed interest rate that's typically higher than regular savings accounts.
CD rates are typically fixed for the entire term. Longer terms usually offer higher rates. The interest can be compounded daily, monthly, quarterly, or annually, affecting your total return.
CDs from FDIC-insured banks are protected up to $250,000 per depositor, per bank. This makes CDs one of the safest investment options available, with guaranteed returns.
Withdrawing funds before the CD matures typically results in penalties. These can range from a few months to a year's worth of interest, depending on the term length and bank policies.
- •Consider laddering CDs with different maturity dates to maintain liquidity
- •Compare rates from multiple banks and credit unions before investing
- •Only invest money you won't need before the CD matures
- •Consider the impact of inflation on your real returns
Frequently Asked Questions
Get answers to common questions about certificates of deposit