What a CD pays at maturity.
A certificate of deposit is a savings account with a fixed rate and a fixed end date. You leave the money untouched for the term, and the bank guarantees the rate until maturity. Enter the offer as the bank quoted it.
Example figures. Enter yours above.
Value at maturity
$0.00
Interest earned
$0.00
Effective APY
0.00%
Balance over the term
Balance at period end
Where the balance comes from
Deposit -
Interest -
Period by period
Period
Total interest
Balance
Worth knowing
APY vs quoted rate
The quoted rate is nominal. APY includes compounding, so it runs slightly higher, and it is the figure banks must disclose. When two offers compound differently, compare their APYs.
Daily vs monthly compounding
More frequent compounding helps less than people expect. On $10,000 at 4.50% for one year, daily compounding beats annual by about ten dollars.
What happens at maturity
The bank returns your deposit plus the interest. Most CDs renew automatically unless you act during a short grace period, and the details are in your bank's disclosure.