Free compare cd rates calculator
Compare certificate of deposit rates side by side — enter up to four CDs with different rates and terms to find the best return, updated live, as you type.
On this page10 sections
CD rates vary by bank and term. FDIC insures up to $250,000 per depositor per bank. Early withdrawal penalties may apply.
Results are estimates. Consult a professional.
How the CD rate comparison calculator works
The CD rate comparison calculator answers one question: given the same principal, which CD earns more money? It applies the standard compound-interest formula to each option independently, then returns the maturity values side by side so you can see exactly which rate and term combination puts more money in your pocket.
Because CDs may have different terms, a higher APY does not always mean a higher dollar return — a 5.0% 6-month CD earns less total interest than a 4.5% 5-year CD on the same principal. The calculator converts everything to comparable future values so the winner is unambiguous.
Worked example: $15,000, two banks, same 1-year term
Jordan wants to park $15,000 for one year. Bank A is offering 4.75% APY and Bank B is offering 4.90% APY. Both are FDIC-insured with no fees. Which one should Jordan choose?
Maturity value of $10,000 at common APYs and terms
Use this table to quickly spot how much APY matters at different time horizons. The difference between a 4.25% and a 5.25% CD is modest at 6 months but grows into hundreds of dollars over two to five years.
| APY | 6 months | 1 year | 2 years | 5 years |
|---|---|---|---|---|
| 4.25% | $10,211 | $10,425 | $10,868 | $12,308 |
| 4.50% | $10,224 | $10,450 | $10,920 | $12,462 |
| 4.75% | $10,236 | $10,475 | $10,971 | $12,618 |
| 5.00% | $10,247 | $10,500 | $11,025 | $12,763 |
| 5.25% | $10,259 | $10,525 | $11,078 | $12,909 |
Maturity values for $10,000 principal. Source: FDIC compound-interest formula; assumes annual compounding at the stated APY.
Tips for comparing CD rates effectively
A higher advertised APY does not automatically mean a better deal. Keep these factors in mind when running your comparison.
- Match the term to your timeline — if you need the money in 12 months, don't chase a 2-year rate. An early-withdrawal penalty can erase the APY advantage entirely.
- Check the compounding frequency — APY already folds in compounding, so comparing APYs is apples-to-apples. Never compare one bank's APR to another's APY.
- Factor in the early-withdrawal penalty — a 150-day penalty at 5.0% costs more interest than a 60-day penalty at 4.75% if you exit early. Compute the break-even holding period.
- Confirm FDIC or NCUA insurance — chase yield only at insured institutions; uninsured products carry credit risk that the APY comparison ignores.
- Revisit at each maturity — rates shift with Fed policy. A rate that was best 12 months ago may not be today. Run a fresh comparison before every rollover.
Accuracy and limitations
This calculator uses annual compounding at the stated APY, which matches how FDIC rules require APY to be disclosed. The actual maturity value may differ by a few cents if your bank credits interest monthly or daily and you withdraw mid-period. The calculator does not account for taxes owed on CD interest, state income tax, or early-withdrawal penalties.
Results are for educational and planning purposes only and do not constitute financial advice. Rates quoted by banks can change without notice and may differ from the APY used in your illustration. Verify the current rate with your institution before opening any account.
CD comparison terms defined
About this compare CD rates calculator
This calculator runs entirely in your browser — nothing you enter is sent to any server.
Browse more in our finance calculators, or explore the complete library on the free calculators page.