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Certificate of Deposit Calculator

Use this calculator to examine the benefits of investing in a Certificate of Deposit. With a Certificate of Deposit, you can benefit from higher interest rates for longer maturities, while achieving better liquidity, rather than investing in a standard savings account.
By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.



Financial Calculators from
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*indicates required.
Annual percentage yield (APY):
Total annual yield:
Total yield:
**FIG_GRAPHTITLE** Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Definitions

Initial deposit

The starting balance of your CD.

Months

The term of the CD, expressed in months.

Interest rate

The published interest rate for this CD. Make sure to enter the actual interest rate, not the annual percentage yield (APY). It is important to remember that these scenarios are hypothetical and that future interest rates can't be predicted with certainty.

Compounding

The interest earned on your CD is added to your CD balance at regular intervals. This is called "compounding." This calculator allows you to choose the frequency that your CD's interest income is compounded. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest. You may wish to check with your financial institution or account opening documents to find out how often interest is being compounded on your CD.

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 CDs that have different interest rates and compounding frequencies.

Horizon Bank
502 Franklin Street
Michigan City, IN 46360

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