Savings Calculators
Certificate of Deposit Calculator
Calculate the maturity value of a fixed-term deposit at a given rate and compounding frequency.
Value at maturity
$22,885
- Interest earned
- $2,885
- Effective annual yield
- 4.59%
How this calculator works
A = P × (1 + r/n)^(n × t)
- n
- compounding periods per year
- t
- the term in years
Example calculation
Illustrative example — not advice
Worked example — the certificate of deposit calculator as it loads, using the default figures below.
- 01Enter deposit amount: $20,000.
- 02Enter annual rate: 4.5%.
- 03Enter term: 3 years.
- 04Enter compounding: Monthly.
- 05Read the value at maturity from the results panel: $22,885.
Value at maturity: $22,885. Interest earned: $2,885. Effective annual yield: 4.59%.
These figures come straight from the calculator above running on the values listed, so you can retype them and confirm every number yourself. Change any input and the results update immediately. Illustrative only — not a quote, offer or recommendation.
Important considerations
- Early withdrawal usually forfeits some interest.
- Interest is generally taxable in the year it is credited.
Related calculators
- Compound Interest CalculatorProject the growth of a balance with compounding and regular contributions.
- Savings Goal CalculatorMonthly saving needed to hit a target.
- Money Market CalculatorHigh-yield savings balance over time.
- Simple Interest CalculatorInterest charged on the original amount only.
- Emergency Fund CalculatorEmergency fund target and time to build it.
- Budget CalculatorNeeds, wants and savings from your take-home pay.
Terms used here
Frequently asked questions
Does daily compounding matter?
It helps, but the difference against monthly compounding is small at typical deposit rates.
Disclaimer
Legamoney calculators are educational tools. Results are estimates based on the figures you enter and do not constitute financial, tax or legal advice.
Last reviewed 2026-08-01