Homtide's CD Calculator helps you estimate the returns on your certificate of deposit (CD) based on the deposit amount, interest rate, and term length. This tool helps you understand how much you could earn by investing in a CD.
Estimate the returns on your certificate of deposit. Adjust the deposit amount, interest rate, term length, and compounding frequency to see your potential earnings.
The interest is compounded at the frequency you selected. For example, if you choose **monthly**, the interest will be calculated and added to your balance every month.
The longer the term and the higher the interest rate, the greater the accumulated value. The compounding frequency also plays a key role in how quickly your deposit grows.
| Period | Balance ($) |
|---|---|
| Period 1 (1 Year) | 1002.92 |
| Period 2 (1 Year) | 1005.84 |
| Period 3 (1 Year) | 1008.78 |
| Period 4 (1 Year) | 1011.72 |
| Period 5 (1 Year) | 1014.67 |
| Period 6 (1 Year) | 1017.63 |
| Period 7 (1 Year) | 1020.60 |
| Period 8 (1 Year) | 1023.57 |
| Period 9 (1 Year) | 1026.56 |
| Period 10 (1 Year) | 1029.55 |
| Period 11 (1 Year) | 1032.56 |
| Period 12 (2 Years) | 1035.57 |
A Certificate of Deposit (CD) is a type of savings account that earns a fixed interest rate for a set period of time. You can use Homtide's CD calculator to easily see how much your money can grow with different deposit amounts, interest rates, terms, and compounding options.
A CD is a savings account where you deposit money for a certain time and earn interest. The longer you leave your money in the CD, the more interest it earns.
The bank pays you interest based on your deposit amount, interest rate, and how often the interest is added (compounding). The more often the interest is added, the more your money grows.
You can, but most banks charge a fee if you take your money out before the CD term ends. It's best to choose a term that works for you.
Shorter terms give you more flexibility, but longer terms usually earn higher interest. Pick a term based on how long you can leave your money without needing to use it.
A CD offers a higher interest rate, but you can't take your money out easily. A savings account is more flexible but usually has a lower interest rate.
When your CD matures, you can take out your money or renew the CD for a new term. Some banks will automatically renew it for you.
Yes, most CDs are insured by the government up to $250,000. This means your money is safe even if the bank goes out of business.
Usually, you can't add money to a CD once it's opened. But some banks offer special "add-on" CDs where you can add more money during the term.
Our CD calculator makes it easy to see how your money will grow with different options. You can quickly change the deposit amount, interest rate, term length, and compounding frequency to see how each factor affects your final return. Whether you're saving for a short-term goal or a long-term investment, our tool helps you make smart decisions about your savings.