Bank Certificate Calculator

The rate your bank or credit union quotes for this certificate. Say below whether it is the APY or the nominal rate.
US depositories must advertise the APY, so the advertised number is normally the APY.
Added to the term in years, for certificates quoted as 18 or 30 months.
Used only when solving for the rate or the term.
Most certificates forfeit a stated number of months' interest if cashed in early. Take the number from your disclosure.
Set this to model an early withdrawal. 0 means the certificate is held to maturity.
Certificate interest is normally taxable in the year it is credited.
Value at maturity
10,450.00
CD Calculator
Interest earned
450.00
Annual percentage yield
4.5000 %
Nominal annual rate
4.401954 %
Interest paid out each period
1.21
Interest after tax
450.00
Value after tax on interest
10,450.00
Early-withdrawal penalty
0.00
Proceeds if cashed in early
10,450.00
Term in years
1.0000 years
Worked out from 12 CFR Part 1030 (Regulation DD), Appendix A - Annual Percentage Yield Calculation and 2 other sources.
Certificate rates are set by each institution and change; enter the rate from your own disclosure rather than assuming one.

How this is worked out

3 steps
  1. A 4.5% APY compounded daily (365 a year) is a nominal rate of 4.401954%.
  2. A = P(1 + r/n)^(n t) = 10000 * (1 + 0.04402/365)^(365 * 1).
  3. Value at maturity = 10450, of which 450 is interest.
Balance at each anniversarytable
yearbalanceinterest
110,450450

Results are general information, not financial, tax, legal, medical or engineering advice.