CD Calculator
See your guaranteed returns on a CD
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Understanding Certificates of Deposit (CDs)
How CDs Work
A CD is a time deposit where you agree to leave money in a bank for a fixed term (3 months to 5+ years). In return, the bank pays a guaranteed APY that is typically higher than savings accounts. Your deposits are FDIC insured up to $250,000.
CD Ladder Strategy
Split funds across multiple terms (e.g., $5,000 each in 6mo, 12mo, 18mo, 24mo). As each matures, reinvest at the longest term. This provides regular access while earning higher rates.
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Written by Finance Experts · Last updated September 2026
Frequently Asked Questions
What is a certificate of deposit (CD)?
A CD is a time deposit where you agree to leave money in a bank for a fixed term (3 months to 5+ years). In return, the bank pays a guaranteed APY that is typically higher than savings accounts. Your deposits are FDIC insured up to $250,000.
What is a CD ladder?
A CD ladder splits your funds across multiple terms (e.g., $5,000 each in 6mo, 12mo, 18mo, 24mo). As each matures, you reinvest at the longest term. This provides regular access to your money while earning higher rates.
Are CDs safer than stocks?
Yes, CDs are FDIC insured up to $250,000, making them virtually risk-free. Stocks can lose value but offer higher potential returns over time. CDs are ideal for short-term savings; stocks are better for long-term growth.
What happens if I withdraw from a CD early?
Most banks charge an early withdrawal penalty, typically 3-6 months of interest for a 12-month CD. Some banks offer no-penalty CDs with slightly lower rates. Always check the terms before depositing.
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Data Sources & Citations
- OfficialInternal Revenue Service (IRS)
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The tool compounds the APY you enter across the whole term and reinvests each maturity exactly as configured.
Early withdrawal charges, broker CD specials and reinvestment rates at maturity can move the final amount.
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