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CD Calculator - Jumbo CD Account Calculator

Conor Keenan By: | Updated: November 13, 2026 | We check the rates shown against the providers’ published information. Rates and terms can change. Use the links below to visit each provider’s website for current rates, requirements, and full offer details.
Accredited Wealth Management Advisor® designee with 10+ years covering banking & investing. His work has appeared in The Wall Street Journal, Reuters & Yahoo Finance.

Editorial Independence: Opinions, recommendations, and reviews are our own. Partner commissions help keep our site free. They do not influence our editorial content.

To recap our recommendations

Best Certificates of Deposit According to CompareAccounts™

Estimated earnings Estimated earnings is shown per $10,000 deposited and assumes the deposit is held for the listed term using the displayed APY, which already reflects compounding. Because values are rounded, multiplying the displayed amount provides an approximation only. Actual earnings may vary due to account terms, balance tiers, fees, rate changes, timing, withdrawals, or rounding. For illustration only.
A recap of the certificate of deposit offers listed in the comparison table above
Bank / institution APY Term Estimated earnings Estimated earnings is shown per $10,000 deposited and assumes the deposit is held for the listed term using the displayed APY, which already reflects compounding. Because values are rounded, multiplying the displayed amount provides an approximation only. Actual earnings may vary due to account terms, balance tiers, fees, rate changes, timing, withdrawals, or rounding. For illustration only. Learn more

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How to use this CD calculator

  1. Enter your initial deposit (example: $10,000).
  2. Pick a CD term: 12-month, 6-month, or 3-month.
  3. We’ll show your estimated ending balance and interest earned for that CD term.
  4. Use the bars to compare Featured CD interest vs the National Average.
  5. Click the Featured APY to jump to the matching CD offer details.

This is a CD interest calculator that assumes daily compounding and no additional deposits.

How to Calculate CD Interest

This calculator estimates your ending balance using daily compounding:

  • Ending balance = P × (1 + r/365)(365 × years)
  • Interest earned = Ending balance − P

Where P = deposit, r = APY as a decimal, and years = term/12.

CD Monthly Interest Calculator (What “Monthly” Really Means)

CDs typically compound daily, but you can estimate a monthly view by dividing the total interest by the number of
months in the term (for rough planning). Actual earned interest can vary slightly due to compounding.

Current CD rates used in this calculator

Term Featured APY National Average APY
12 Month 3.80% 1.71%
6 Month 3.75% 1.41%
3 Month 4.25% 1.14%

CD Calculator FAQs

How much interest will a CD earn?

Your CD interest depends on your deposit amount, APY, and the CD term length. This calculator estimates interest
earned using daily compounding over the selected term. Actual earnings can vary by institution and account terms.

How do I calculate CD interest?

A common approach is to calculate your ending balance using daily compounding, then subtract your original deposit.
This calculator uses the APY for the selected term to estimate ending balance and interest earned.

What’s the difference between APY and interest rate?

APY includes the effect of compounding, which makes it easier to compare CD offers. The interest rate is the stated
rate before compounding is applied. For comparing CDs, APY is usually the most helpful number.

Do CDs compound daily?

Many CDs compound daily, but compounding frequency can vary by bank and product. This calculator assumes daily
compounding for illustration. Check the CD’s terms to confirm compounding and crediting details.

What is a 3-month vs 6-month vs 12-month CD best for?

Shorter terms (like 3 months) can be useful if you want flexibility or expect rates to change soon. A 6-month CD can
balance yield and access, while a 12-month CD can help lock in a rate for longer. The best choice depends on your
timeline and liquidity needs.

What happens if I withdraw early from a CD?

CDs often charge an early withdrawal penalty, which can reduce or eliminate interest earned and, in some cases,
impact principal. Penalties vary by bank and term length. Always review the CD’s early withdrawal terms before
opening an account.

Is this a free CD calculator?

Yes—this is a free CD calculator for estimating interest earned and ending balance based on APY and term length.
Results are estimates for illustration and may differ from actual earnings due to product-specific terms and fees.

What to Look for in a Certificate of Deposit Account

It’s always wise to compare your options when opening a new certificate of deposit account.

Small differences in interest rates and fees can quickly add up over time, especially if you’re keeping a large balance in the account.

Here are the top features to look for and compare:

1. Interest Rate

The interest rate of a certificate of deposit is one of its most important features. However, a very high interest rate can get completely wiped out if you have to pay a penalty fee because you need to withdrawal your funds before the term is complete.

Besides interest rate, term length is the second most important factor. Other important features of your certificate of deposit account include the required initial deposit, and minimum balance required.

2. Term Length

Most banks will charge you what’s called a “penalty fee” for withdrawing your funds before the term length has been completed.

This means, that if you open a 12-month CD, but withdraw your funds within 6 months, then you’ll pay a penalty fee.

Therefore, you need to decide when you’ll need these funds again.

For any term less than a year, we recommend a high-yield savings account.

If this is your first CD account, we recommend starting with a 12 – 15 month term.

If you’ve opened a CD account in the past, then you choose which term is right for you and your unique situation.

3. Required Initial Deposit

Initial deposit is another important factor when deciding to open up a certificate of deposit. Most banks require at least a $500 initial deposit to open a CD account.

While others require much more than $500 to open the account.

Again, because the initial deposit is in the hundreds if not thousands, we recommend you open a high-yield savings account if you need these funds within a year.

*National Savings Rate Average as published by FDIC