Project your interest earnings and balance at maturity using real average CD rates.
Use this free calculator to see what a certificate of deposit (CD) will earn. Enter your deposit, choose a term and the APY fills in with today's MonitorBankRates national average for that term, or pick your state to use the average rate banks and credit unions in your state are paying. Adjust the APY to match a quote you have been given and compare it with today's best CD rates.
Use your state's average CD rates
Loads the MonitorBankRates average CD APY for your state for the term you select.
Certificate of Deposit Calculator
Enter your deposit and term. Results update as you type.
Deposit and interest over the term
Interest by month
| Month | Interest This Month | Total Interest | Balance |
|---|
What a CD Earns at Today's Average Rates
As of September 21, 2026, the MonitorBankRates national average APY on a 12 month CD is 2.87% and the 60 month average is 2.79%. A $10,000 deposit in a 12 month CD at the average rate grows to about $10,286.70, earning $286.70 in interest. The highest average APY right now is the 12 month CD at 2.87%. The best CDs pay well above these averages, so compare offers before you open one.
| $10,000 CD at today's MBR national average APY | Avg APY | At maturity |
|---|---|---|
| 3 month CD | 1.98% | $10,049.19 ($49.19 interest) |
| 6 month CD | 2.69% | $10,133.61 ($133.61 interest) |
| 12 month CD | 2.87% | $10,286.70 ($286.70 interest) |
| 18 month CD | 2.72% | $10,411.07 ($411.07 interest) |
| 24 month CD | 2.75% | $10,558.38 ($558.38 interest) |
| 36 month CD | 2.69% | $10,827.64 ($827.64 interest) |
| 48 month CD | 2.68% | $11,116.74 ($1,116.74 interest) |
| 60 month CD | 2.79% | $11,475.60 ($1,475.60 interest) |
Averages are recalculated every day from the CD rates banks and credit unions publish, so this table reflects the market today rather than a sample rate.
How a CD Calculator Works
A certificate of deposit (CD) is a time deposit offered by banks and credit unions. You agree to leave a lump sum in the account for a set term and the bank pays a fixed rate for the whole term. This calculator projects your balance at maturity from the APY, the term and the compounding frequency, and lists the interest credited each month.
CD Calculator Definitions
How to Use the CD Calculator
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Enter your initial deposit
Type in the lump sum you plan to invest in the CD. Most banks have minimum deposits of $500 to $1,000 for standard CDs, though jumbo CDs may require $100,000 or more.
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Choose the CD term
Pick a term and the APY updates to today's MonitorBankRates average for that term. Longer terms usually pay more, though when rates are expected to fall short terms can pay as much or more; compare 60 month CD rates with 12 month rates to see the current shape of the curve.
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Check the APY
Keep the average, pick your state to use the state average, or enter the rate you have been quoted. The best nationally available CDs typically pay well above the average, so the average is a floor, not a target.
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Review the results
The calculator shows your balance at maturity, total interest, the equivalent simple interest rate, a growth chart and the interest credited each month.
Frequently Asked Questions
What is the average CD rate right now?
As of September 21, 2026, the MonitorBankRates national average APY is 2.87% on a 12 month CD and 2.79% on a 60 month CD, computed from the rates published by more than 8,000 banks and credit unions. The top rates available nationally are usually a full point or more above the average, and rates vary by state, which is why this calculator lets you load your state's average.
What happens if I withdraw my money early?
If you withdraw funds from a CD before the maturity date, banks typically charge an early withdrawal penalty. This penalty is often equal to a certain number of months of interest, usually 3 months for short term CDs and up to 12 months for 5 year CDs. Use the early withdrawal penalty calculator to estimate the exact dollar cost.
Are CD rates fixed?
Yes, standard CDs have fixed rates. Your APY is locked in when you open the account and will not change, providing guaranteed returns regardless of what happens to market interest rates afterward. That rate certainty is the main advantage of a CD over a high yield savings account.
Is my money safe in a CD?
Yes. CDs at FDIC insured banks are insured up to $250,000 per depositor, per insured bank, per ownership category. Credit union CDs (sometimes called share certificates) get equivalent NCUA insurance. If you have more than that to invest, spread it across multiple banks to keep all of it covered.
What is the difference between APY and interest rate on a CD?
The interest rate is the raw rate the bank pays. APY (annual percentage yield) accounts for compounding within the year. On a 5.00% interest rate CD compounding daily, the APY is roughly 5.13%; that 0.13% comes from earning interest on your interest. Always compare CDs by APY, not by raw interest rate. The calculator shows the equivalent interest rate for the compounding frequency you pick.
Should I open a CD or a high yield savings account?
It depends on whether you need access to the money. CDs often pay more than savings accounts at the same bank, but you pay a penalty for early withdrawal. If the money is earmarked for a future date and you can leave it alone, CDs usually win on yield. The CD vs. HYSA comparison shows the dollar difference at today's average rates.
What is a CD ladder and how does it work?
A CD ladder spreads your money across multiple CDs with staggered maturity dates, for example five $10,000 CDs maturing in 1, 2, 3, 4, and 5 years. As each CD matures, you reinvest into a new long term CD. This gives you regular access to a portion of your money each year while still capturing the higher long term yields. The CD ladder calculator builds one using today's average rate for each rung.
Are CDs a good investment in a high rate environment?
Yes, when rates are at or near a peak, CDs let you lock in those high rates before they fall. The downside is the opposite: if rates rise after you open the CD, you are stuck with the lower rate or pay a penalty to break it. In falling rate environments CDs are particularly valuable; in rising rate environments an HYSA captures the increases automatically.
Will the bank send me my interest each month?
It depends on the CD. Some CDs allow you to receive interest payments monthly or quarterly via direct deposit, which can supplement income but means the interest does not compound inside the CD. Most CDs default to compounding, where the earnings stay in the account and grow until maturity. Interest payouts work well for retirees who need supplementary income.
