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CD Deposit Calculator

Estimate certificate-of-deposit proceeds, including entered early-withdrawal penalties and tax assumptions.

Your numbers

Make it your own
Updates as you type
Estimated withdrawal proceeds
$10,511.62

USD · rounded to the nearest cent

Gross accrued interest$511.62
Early-withdrawal penalty$0.00
Entered tax estimate$0.00
Net interest$511.62

Illustrative CD model, including fractional compounding periods. Actual accrual, penalty and tax rules vary. The entered penalty may reduce principal; it is not capped at earned interest.

Your calculation, step by step

No black boxes
  1. Balance before penalty = P(1 + r/k)^(k × 12/12).
  2. If withdrawn before maturity, deduct entered penalty months × principal × nominal annual rate / 12.
  3. Apply entered tax only to positive interest after the penalty.

What if things were different?

Save up to three scenarios, then change your inputs to compare the possibilities.

How to use this calculator

  1. Enter your own values in the labeled fields. Check the units and assumptions before comparing results. Only the fields needed for your selected calculation mode are shown.
  2. Your answer updates automatically. Review the calculation steps to see exactly how it was calculated.
  3. Copy, share, save, or download your result. Saved inputs stay on this device.

How the calculation works

Interest = P[(1+r/k)^(kt) − 1]; early penalty = P × r × penalty months / 12

Choose a withdrawal month no later than maturity. The entered penalty applies only before maturity and can reduce principal. Taxes apply only to positive net interest in this model. Actual product accrual, penalty and tax terms may differ. Review the units, period and assumptions before comparing scenarios. Displayed values are rounded, while the underlying calculation retains its available precision.

A worked example

$10,000 at 12% nominal interest compounded monthly for 12 months grows to $11,268.25 before tax, with no penalty at maturity.

Reading your result

Use the main result together with its units and supporting figures. Display values are rounded; calculations keep their underlying precision. A change in inputs or assumptions can change the answer. Compare the step-by-step working with your intended use before relying on an estimate.

Frequently asked questions

What assumptions does this calculation use?

Choose a withdrawal month no later than maturity. The entered penalty applies only before maturity and can reduce principal. Taxes apply only to positive net interest in this model. Actual product accrual, penalty and tax terms may differ.

Can I save or check a scenario?

The result includes the working and supporting values. Save and Restore keep inputs on this device; Copy, Download and Print export the result. Sharing a scenario explicitly includes the inputs in its link.

Sources & methodology

This calculator uses the mathematical identity and assumptions stated above. No current rates, prices, or external data are loaded. Conversion tools use international unit definitions.

Formula review: October 24, 2026. Read our methodology.