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Interest Calculator

Use this calculator to find out how much interest you can earn on a deposit account. Just enter a few pieces of information and we will calculate your APY and ending balance.

Interest Calculator
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Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes only. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.

Definitions


Initial deposit:
The starting balance for your CD.

Months:
The total number of months for this CD to mature. A Month is equal to a year divided by 12 or 30.416 days. A year is equal to 365 days.

Interest rate:
The published interest rate for this CD. Make sure to enter the actual interest rate, not the Annual Percentage Yield (APY).

Annual Percentage Yield (APY):
This is the effective annual interest rate earned for this CD. A CD's APY depends on the frequency of compounding and the interest rate. Since APY measures your actual interest earned per year, you can use it to compare CD's of different interest rates and compounding frequencies.

Compounding:
Interest earned on your CD's accumulated interest. This calculator allows you to indicate the frequency with which your CD's interest income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. The interest will remain and compound with principal.


† Annual Percentage Yield (APY) is effective 02/09/2010. High Yield Savings, High Interest Checking and Money Market Savings are variable rate accounts and your interest rate and annual percentage yield (APY) may change daily without notice. Certificate of Deposit (CD) rates may also change without notice; however rates are locked for the term of the account. High Yield Savings and Money Market Savings accounts require a $100 minimum deposit to open. High Interest Checking accounts require a $500 minimum deposit to open. Certificates of Deposit require a $1,000 minimum balance.
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