What this page sets up
The calculator opens as a CD calculator: a 10,000 deposit, a 4.00% APY, daily compounding and a 12-month term, with no deposits after the first. Type the APY your bank quotes and the term: a 6-month CD is 0 years and 6 months, an 18-month CD 1 year and 6 months. If the disclosure gives an interest rate as well as an APY, switch The rate is to Nominal rate (APR) and enter the interest rate with the compounding it states; both routes give the same result.
Reading the result
The large figure is the CD’s value at maturity, and Compound interest is what it earns. The schedule shows the value month by month, which is also what you’d have before any early withdrawal penalty if you broke the CD. The simple interest card shows the interest a CD that paid out its interest instead of compounding it would give, which is how CDs that send interest to a checking account work.
Comparing CDs
- Compare by APY, for the same term. A higher rate with a shorter term can earn less in dollars than a slightly lower rate locked for longer, and vice versa if rates rise.
- Check the penalty before choosing a long term. Penalties of several months’ interest can wipe out the gain over a shorter CD if you need the money early.
- Ladder if you’re unsure: split the money over several terms so part matures every year.
National average CD rates (September 21, 2026)
The FDIC publishes the average APY paid on CDs by all insured banks and credit unions, weighted by their deposits. What 10,000 would earn at each average, as the calculator works it out:
| Term | National rate (APY) | Interest on $10,000 | Value at maturity |
|---|---|---|---|
| 1 month | 0.23% | $1.91 | $10,001.91 |
| 3 months | 1.13% | $28.13 | $10,028.13 |
| 6 months | 1.41% | $70.25 | $10,070.25 |
| 12 months | 1.73% | $173.00 | $10,173.00 |
| 24 months | 1.61% | $324.59 | $10,324.59 |
| 36 months | 1.36% | $413.57 | $10,413.57 |
| 48 months | 1.28% | $521.91 | $10,521.91 |
| 60 months | 1.38% | $709.31 | $10,709.31 |
For comparison, the national average for savings accounts was 0.37%. These are averages across thousands of institutions; many pay well above or below them, so use the APY in your own offer.
Sources: FDIC, National Rates and Rate Caps, rates as of September 21, 2026 (CD rates are an average of the $10,000 and $100,000 product tiers); Federal Reserve, Regulation D, 12 CFR 204.2(c)(1)(i), minimum early withdrawal penalty; FDIC, Understanding Deposit Insurance. Not financial advice.