Saving & investing
CD and Fixed Deposit Calculator
Work out what a CD or fixed deposit pays at maturity or as regular payouts, its APY, and what an early withdrawal penalty would cost you.
Value at maturity after 1 year
$10,408.08
$408.08 of interest on $10,000.00
Total interest
$408.08
over 1 year
APY
4.08%
4% compounded daily
Interest a month, on average
$34.01
Total interest ÷ months in the term
How $408.08 of interest was worked out
Interest is credited 365 times a year at 4% ÷ 365 each time and left in the deposit, so $10,000.00 grows to $10,000.00 × (1 + 0.04 ÷ 365)^(365 × 1) = $10,408.08. The APY of 4.08% is that growth as a yearly rate, Regulation DD's (1 + interest ÷ deposit)^(1 ÷ years) − 1.
Fixed rate, before tax. An estimate, not financial advice, providers may calculate differently.
Month by month
| Month | Interest added | Balance |
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How this is calculated
A term deposit locks your money away for a fixed number of months at a fixed rate, and the calculator follows the interest one of two ways: credited at the compounding you choose and left to grow until maturity, or paid out to you monthly, quarterly or yearly as simple interest that never compounds. It states the result as an APY so deposits with different compounding can be compared, and, if you switch on an early withdrawal, applies either a penalty of so many days' interest or a cut in the rate for the months held, showing what you would actually get back.
VP × (1 + r ÷ m)m × t
- V
- the value at maturity
- P
- Amount deposited
- r
- Interest rate a year, as a decimal
- m
- credits a year from the Compounding setting
- t
- the Term in years
What this does not include
- Tax on interest, including tax deducted at source on Indian fixed deposits.
- A rate that changes at renewal: the term is priced at one rate.
- The bank's own rate for a shorter term, which may apply when you close early.
- Deposit insurance limits, which decide how much of a large deposit is protected.
How this calculator works
CDs and fixed deposits: compounding, payouts and withdrawal penalties. How a term deposit's interest compounds or is paid out, how its APY is worked out, the two common forms of early withdrawal penalty, and three worked examples.
This calculator is for general information only and is not financial advice. Results are estimates based on the figures you enter and the stated formula; lenders and providers may round or calculate differently. Check any decision with the institution involved or a qualified adviser.