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CD Interest Rate Calculator
Editorial Independence: Our opinions, reviews, and recommendations are our own and not influenced by financial institutions or partners. Partner commissions keep our site free, but our content remains independent and is not commissioned by any partner or financial institution.
CD Simple Interest Calculator - National 1 Year CD Rate Average*: 1.80%
Enter the initial deposit, APY, term length & click calculate.
Results:
Interest Earned: $0.00
Total Balance: $0.00
Customers Also Viewed These High Yield Savings Accounts
Annual Percentage Yield (APY)
3.60% APY
APY as of May 23, 2025
On American Express® National Bank's
Secure Site, Member FDIC
Best For: Competitive APY From An Online Bank
Your interest compounds daily and is deposited in your account monthly.
Other benefits of this account include $0 monthly fees, 24/7 Customer Service, FDIC insurance up to $250,000 per depositor and the fact it's backed by the service & reliability of American Express, it's a no brainer as to why so many people are signing up.
To top it off, you can easily check balance and transaction history, deposit funds, and more within the American Express® App.
See American Express National Bank's Secure Site For More Details.
Best For: High APY Interest Rates
Western Alliance Bank offers 4.25% APY exclusively through the Raisin Platform.
This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks.
In addition to this high APY, Western Alliance offers $0 monthly maintenance fees, unlimited withdrawals, and is insured by the FDIC for up to $250,000 per depositor.
Customer service is located in New York, NY and is available via email and phone. You'll have online access to your funds 24/7.
Western Alliance Bank is consistenly ranked among the top banks. The bank has over $80 Billion in Assets and were ranked #1 top-performing large bank with assets greater than $50 billion in 2021, 2022, 2023 & 2024 by American Banker. Serving clients across the country wherever business happens.
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, or $500 bonus for $50K deposited or more. Use promo code BOOST at sign-up.
See Raisin's Secure Site for Western Alliance Bank For More Details.
Don't Miss This High Yield Savings Account
American Express® Savings
3.60% Annual Percentage Yield
as of May 23, 2025
Member FDIC
On American Express National Bank's
Secure Site, Member FDIC
SoFi Invest Disclosures:
1. Other fees, such as exchange fees, may apply. Please view our fee disclosure to view a full listing of fees.
2. Investing in alternative investments and/or strategies may not be suitable for all investors and involves unique risks, including the risk of loss. An investor should consider their individual circumstances and any investment information, such as a prospectus, prior to investing. Interval Funds are illiquid instruments, the ability to trade on your timeline may be restricted. Brokerage and Active investing products offered through SoFi Securities LLC, Member FINRA(www.finra.org) /SIPC(www.sipc.org).
3. There are limitations with fractional shares to consider before investing. During market hours fractional share orders are transmitted immediately in the order received. There may be system delays from receipt of your order until execution and market conditions may adversely impact execution prices. Outside of market hours orders are received on a not held basis and will be aggregated for each security then executed in the morning trade window of the next business day at market open. Share will be delivered at an average price received for executing the securities through a single batched order. Fractional shares may not be transferred to another firm. Fractional shares will be sold when a transfer or closure request is initiated. Please consider that selling securities is a taxable event.
4. Options involve risks, including substantial risk of loss and the possibility an investor may lose the entire investment Before trading options please review the Characteristics and Risks of Standardized Options [HYPERLINK: https://www.theocc.com/getmedia/a151a9ae-d784-4a15-bdeb-23a029f50b70/riskstoc.pdf
5. Utilizing a margin loan is generally considered more appropriate for experienced investors as there are additional costs and risks associated. It is possible to lose more than your initial investment when using margin. Please see https://www.sofi.com/wealth/assets/documents/brokerage-margin-disclosure-statement.pdf for detailed disclosure information.
6. SoFi Plus members can schedule an unlimited number of appointments with a financial planner during periods in which the SoFi Plus member meets the eligibility criteria set forth in section 10(a) of the SoFi Plus Terms and Conditions. SoFi members who are not members of SoFi Plus can schedule one (1) appointment with a financial planner. The ability to schedule appointments is subject to financial planner availability. SoFi reserves the right to change or terminate this benefit at any time with or without notice. Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
7. Customer must fund their Active Invest account with at least $50 within 30 days of opening the account. Probability of customer receiving $1,000 is 0.028%. See full terms and conditions.
8. Terms and conditions apply. Roll over a minimum of $20K to receive the 1% match offer. Matches on contributions are made up to the annual limits.
9. Must be a SoFi Plus member at the time a recurring deposit is received into your SoFi Active or Automated investing account to qualify. Bonus calculated on net monthly recurring deposits made via ACH and paid out as Rewards Points. See Rewards Terms of Service. SoFi reserves the right to change or terminate this promotion at any time without notice. See terms and limitations. https://www.sofi.com/sofiplus/invest/#disclaimers
10. For full promotion terms please visit: SoFi.com/ACATterms. You must transfer at least $20,000 before April 17, 2025 and keep the investments in your SoFi Active Invest account through December 31, 2025 to be eligible for the incentive, which will be paid by January 31, 2026. SoFi does not accept cryptocurrencies and has some limitations on mutual funds and OTC stock.
Brokerage and Active investing products offered through SoFi Securities LLC, member FINRA(www.finra.org)/SIPC(www.
Advisory services are offered by SoFi Wealth LLC, an SEC-registered investment adviser. Information about SoFi Wealth’s advisory operations, services, and fees is set forth in SoFi Wealth’s current Form ADV Part 2 (Brochure), a copy of which is available upon request and at www.adviserinfo.sec.gov.
4.25% APY
On Raisin's Secure Site
for Sallie Mae, Member FDIC
Best For: Good Term + High APY
Term: 14 Months
Limited Time Offer: New customers can earn a $75 bonus for $10K, $250 bonus for $25K, or $500 bonus for $50K deposited or more. Use promo code BOOST at sign-up.
Sallie Mae Bank (Member FDIC) was founded in 1972 and has grown with almost $30 billion in total assets and has some of the highest CD rates around.
Sallie Mae bank currently offers 4.25% APY on their 14 month CD, exclusively through the Raisin Platform.
Customer service is located in New York with representatives available via phone Monday - Friday 9:00am - 4:00 pm ET. You can also email or send them a message through the secure message center at any time.
This account comes with $0 monthly maintenance fees and is insured by the FDIC for up to $250,000 per depositor.
You'll have 24/7 access to your account and funds.
Sallie Mae has been putting educational & financial success within reach for more than 50 years, let them help you today.
See Raisin's Secure Site for Sallie Mae® Bank For More Details.
4.00% APY
On Discover Bank's Secure Site,
Member FDIC
Best For: Online Banking Experience + Customer Service
Term: 12 Months
Discover Bank offers 4.00% APY with no monthly fees and no minimum deposit required to open an account on their 12 Month CD.
Discover Bank is one of the first online focused banks to offer no monthly fees and what they call "No. Fees. Period."
Deposits are insured through the FDIC for up to $250,000 per depositor and if you have any questions Discover offers 100% U.S.-based Customer Service Available 24/7.
Interest compounds daily so lock in your 12 Month CD rate today & start earning guaranteed interest now.
See Discover Bank's Secure Site For More Details.
Certificates of Deposit (CDs) are a cornerstone of conservative investment strategies, offering a secure and predictable way to grow your savings. The CD Calculator stands out as an essential tool for anyone looking to navigate the complexities of CD investments, providing clarity on potential returns. This article delves into the intricacies of CD calculators, offering insights and guidance to both seasoned investors and newcomers alike.
How to Use This Calculator:
- Initial Deposit: Enter the amount of money you wish to deposit into the Certificate of Deposit (CD). This is the initial amount that will earn interest over time.
- APY (Annual Percentage Yield): Input the APY offered by your bank or financial institution for the CD. This rate represents the annual interest your deposit will earn.
- CD Term Length (in months): Specify the duration (in months) you intend to keep your money in the CD without making any withdrawals.
- Calculate: Once you’ve filled in the required fields, click on the “Calculate” button to see how much interest you’ll earn and what your total balance will be at the end of the term.
Factors Influencing CD Investment
Several key factors influence the potential return on CD investments, including the interest rates offered by banks, the amount of the initial deposit, the length of the term, and any applicable early withdrawal penalties. Understanding these factors is essential for anyone looking to maximize their investment through a CD.
CD Laddering Strategy
Alternatives to CDs
Frequently Asked Questions (FAQ):
Q: What is a Certificate of Deposit (CD)?
A: A CD is a type of savings account offered by banks and financial institutions. It typically has a fixed term length and a fixed interest rate. In exchange for leaving your money in the CD for the entire term, you usually receive a higher interest rate than with regular savings accounts.
Q: Why can't I withdraw money before the term ends?
A: While you technically can withdraw your money before the CD term ends, doing so will usually result in a penalty. This penalty can be a portion of the interest earned or even a portion of the initial deposit, depending on the bank’s terms.
Q: Is my money safe in a CD?
A: Yes, CDs are considered low-risk investments. As long as the institution offering the CD is FDIC-insured (or its equivalent in countries outside the U.S.), your deposit is protected up to the FDIC limit.
Q: Can the interest rate change during the CD term?
A: For fixed-rate CDs, the interest rate remains the same throughout the term. However, there are variable-rate CDs where the interest can fluctuate based on certain indices. Always make sure to understand the terms before committing your money.
Q: Why is the APY higher than the interest rate?
A: APY represents the effective annual rate of return, taking into account the effect of compounding interest. If interest is compounded more frequently than annually, APY will be higher than the stated interest rate.
*National Savings Rate Average as published by FDIC
INVESTMENTS ARE NOT FDIC INSURED • ARE NOT BANK GUARANTEED • MAY LOSE VALUE
