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CD Calculator: Find Out How Much You Can Earn

Input term length and interest rate to calculate total interest on a certificate of deposit.
Banking, CDs

CDs make sense if you want a low-risk investment to store money that you can leave untouched for months or years. Like regular savings accounts, CDs have federal deposit insurance for up to $250,000. NerdWallet’s CD calculator can help you figure out how much your certificate will earn.

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Consider the CD term

The longer the term, the higher the rate tends to be. CD terms typically range from three months to five years, so see how CDs fit in with your savings goals. They have early withdrawal penalties, so make sure you don’t need that money before the term expires. (If access to funds is important, see our best high-yield savings accounts.)

Shop for the best CD rates

Some online-only banks have one-year CDs with annual percentage yields (APYs) around 2% and five-year CDs earning even more. Here’s a closer look at some of the highest CD rates on the market:

COMPARE THE TOP CD RATES










1-year APY


2.20%



3-year APY


2.35%


5-year APY



2.80%



Minimum deposit



$500






1-year APY


2.20%



3-year APY


2.35%


5-year APY



2.80%



Minimum deposit



No minimum






1-year APY


2.25%



3-year APY


2.55%


5-year APY



2.85%



Minimum deposit



$2,000




Compare more banks and CD rates here

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