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Certificate of Deposit (CD) Calculator

Certificate of Deposit (CD) Calculator

Use this calculator to find out how much interest you can earn on a Certificate of Deposit (CD). Just enter a few pieces of information and we will calculate your annual percentage yield (APY) and ending balance. Click on the "View Report" button to see a detailed schedule of your CDs balance and interest earned.
  

Please refer to the "Definitions" directly below the calculator area to help you understand each section of the calculator.

Certificate of Deposit Calculator Definitions

  • Initial Deposit
    • The starting balance for your CD.
  • Months
    • The total number of months for this CD to mature.
  • Interest Rate
    • The published interest rate for this CD. Make sure to enter the actual interest rate, not the annual percentage yield (APY).
  • Compounding
    • Interest earned on your CD's accumulated interest. This calculator allows you to choose the frequency that your CD's interest income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. You may wish to check with your financial institution to find out how often interest is being compounded on your particular CD.
  • Annual Percentage Yield (APY)
    • This is the effective annual interest rate earned for this CD. A CD's APY depends on the frequency of compounding and the interest rate. Since APY measures your actual interest earned per year, you can use it to compare CD's of different interest rates and compounding frequencies.

Calculator Disclaimer

The Calculator Planning Tools are provided to you for illustrative purposes and are not guaranteed or intended to provide advice. The calculations you perform are based on the information you enter and should be used only as guidelines. The calculations do not represent terms or interest rates available from First Bank or whether you qualify for an account or loan. For more information please see our full Terms of Use or Contact Us if you have questions.