CD Calculator: Interest, Maturity Value and After-Tax Earnings
Enter the deposit, APY and term to see the maturity value and interest. Add your tax rates to see what you keep — CD interest is taxed as ordinary income every year, even before the CD matures.
$10,460.00 at maturity
$10,000 at 4.60% APY for 12 months earns $460.00 in interest. After 22% federal and 5% state tax you keep $335.80.
Today's best 1 year CD rates
- Popular Direct 4.60% 12 months
- Barclays 4.50% 12 months
- Sallie Mae Bank 4.50% 12 months
- Capital One 4.40% 11 months
- Marcus by Goldman Sachs 4.40% 12 months
From the institutions we track, verified daily. See all rates.
How CD interest is calculated
Maturity value = deposit × (1 + APY)months / 12. APY already includes compounding, so no compounding setting is needed.
Example: $10,000 at 4.30% APY for 11 months grows to 10,000 × 1.04311/12 = $10,393.47, or $393.47 of interest.
Questions
Is CD interest taxable?
Yes. CD interest is taxed as ordinary income at the federal and state level, in the year it is credited, even if you leave it in the CD.
What happens when a CD matures?
Most CDs renew automatically for the same term at the rate in effect at renewal, which can be much lower than a promotional rate. You usually have a 7–10 day grace period to withdraw or change terms.