CD Savings Comparison Calculator to Compare Net-Effects of Unlike Terms

CD Savings Comparison Calculator Sign

This calculator will calculate and compare the interest earnings and annual percentage yield on up to 4 different certificates of deposit.

When shopping for an investment CD, it can be tough to determine which one is the best, because most of them have different interest rates, maturity dates, and compounding intervals.

But now that you have found this free online calculator, this once difficult task is now simply a matter of entering each certificate of deposit and letting the calculator convert the confusing differences into comparable results.

If you would simply like to calculate interest earnings and APY for a single certificate of deposit, please visit the certificate of deposit interest calculator, which also includes the answer to the question, "What is a CD?", along with a link to an unbiased source for more in-depth study.

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CD Savings Comparison Calculator

Compare CD Savings Growth and APY for up to 4 CD's, each having different face values, interest rates, number of months, and/or compounding intervals.

Special Instructions

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Selected Data Record:

A Data Record is a set of calculator entries that are stored in your web browser's Local Storage. If a Data Record is currently selected in the "Data" tab, this line will list the name you gave to that data record. If no data record is selected, or you have no entries stored for this calculator, the line will display "None".

DataData recordData recordSelected data record: None
Enter CD's to Compare

CD's to Compare:

For each CD you would like to compare, enter the deposit amount, the interest rate, and the number of months, and then select the number of compoundings per year (CPY).

Tap the column header links for more detailed instructions.

Once you have all CD terms entered, tap the Calculate CD Comparison button.


Deposit Amount:

Enter the deposit amount of each CD. Enter as a dollar amount, but without the dollar sign and any commas. Most certificates of deposit require a minimum deposit amount of $500 or more.


Annual Interest Rate:

Enter the annual interest rate (APR) of each CD. Enter as a percentage, but without the percent sign (for .02 or 2%, enter 2).


Number of Months:

Enter the number of months before each CD reaches its maturity date.


Compounding Per Year (CPY):

Select the compoundings per year that applies to each certificate of deposit. Typically, the more frequent the compounding, the more interest you will earn in a given amount of time.

Comparative Results

Comparative Results:

The chart below will compare the future value, interest earnings, average annual earnings, and annual percentage yield, for all CDs entered in the section above this one.

Tap the Terms option to view the entered terms for each CD.

Tap the Results option to change the chart back to the calculated results, which will include header links to view more detailed descriptions of each column.

#FVFVFuture ValueFuture ValueInterestInterestInterest EarningsInterest EarningsAvg/YrAvg/YrAvg / YearAverage Per YearAPY

Future Value:

Based on your entries, this how much each certificate of deposit will be worth when it reaches its maturity date.

Interest Earnings:

Based on your entries, this is the total amount of interest you will earn on each CD.

Average Earnings Per Year:

This is the average annual interest earnings for each CD. For CDs with maturities of less than one year, the calculator will assume you will reinvest the principal and interest at each maturity date.

Annual Percentage Yield (APY):

Given the number of months and interest rate, this is the annual percentage yield (APY) of each certificate of deposit.

If you would like to save the current entries to the secure online database, tap or click on the Data tab, select "New Data Record", give the data record a name, then tap or click the Save button. To save changes to previously saved entries, simply tap the Save button. Please select and "Clear" any data records you no longer need.

Help and Tools


Prerequisites to investing in CD's.

When Should You Consider CD Investing?

If you don't have any discretionary income (income over and above your living expenses and debt payments), then CD investing, or any other type of financial investing, should not be your first priority.

Your first priority should be to create discretionary income. To do that you will need to do one of the following:

  1. Lower your living expenses and/or debt payments.
  2. Increase your take-home pay.
  3. A combination of #1 and #2.

If you have discretionary income, but you don't have an emergency savings account equal to 3-6 months of your income, then CD investing, or any other type of financial investing, should not be your first priority.

Your first priority should be to direct a significant portion of your discretionary income into a type of savings account that doesn't have early withdrawal penalties, for as long as it takes to build up an emergency fund equal to at least three months of your income.

If you do have discretionary income, and you have established an emergency fund, but you also have high-interest debt, then again, CD investing, or any other type of financial investing, should not be your first priority.

Your first priority should be to invest in your debt.

Your return on investment of paying off your high-interest debt can be five to ten times greater than that of even a high yield certificate of deposit -- especially if you consider that you won't have to pay taxes on the money you earn (save) from paying off debt ahead of schedule.

If you have discretionary income, an emergency fund, and no high-interest debt, only then should you consider CD investing. Of course, investment brokers will give you all kinds of reasons why you shouldn't consider CD investing.

What Brokerage Firms Want You To Believe About CD Investing

In their attempt to get you to invest your money into an investment that will reward them with commissions and fees, investment "advisors" will be quick to point out that CD investing exposes you to what they refer to as "inflation risk."

The idea behind inflation risk is that if your money is not achieving a return on investment higher than the rate of inflation, you will be going backward financially. While this is certainly true, inflation risk can be no more harmful to your net worth than the added risk that comes with high yield investments.

Thanks to the promotion of concepts such as inflation risk, I know many people who lost virtually all of their life savings since that fateful day on September 11, 2001 (some lost their homes as well).

Meanwhile, people who limited their investing to low-risk or government insured investments (such as CD investing and debt investment), certainly experience a marked reduction in their return on investment, but they didn't lose a single dollar of their principal. And since people like that tend to have little or no debt payments, a reduction in income is far less of a concern for them.

Who Should You Listen To For Investment Advice?

The bottom line when it comes to who you should listen to when it comes to deciding where to invest money is to listen to your gut feeling and common sense. At the very least, ask yourself the following questions:

  • Will a commissioned broker truly hold my best interests over their own?
  • Do I really want to risk losing the money I worked so hard to earn and sacrificed so much to save?
  • Does the notion of making money without having to work for it fit into the category of "too good to be true?"
  • Sure, some people took huge risks in the stock market and won big, but how many do I know personally?

Adjust Calculator Width:

Move the slider to left and right to adjust the calculator width. Note that the Help and Tools panel will be hidden when the calculator is too wide to fit both on the screen. Moving the slider to the left will bring the instructions and tools panel back into view.

Also note that some calculators will reformat to accommodate the screen size as you make the calculator wider or narrower. If the calculator is narrow, columns of entry rows will be converted to a vertical entry form, whereas a wider calculator will display columns of entry rows, and the entry fields will be smaller in size ... since they will not need to be "thumb friendly".

Show/Hide Popup Keypads:

Select Show or Hide to show or hide the popup keypad icons located next to numeric entry fields. These are generally only needed for mobile devices that don't have decimal points in their numeric keypads. So if you are on a desktop, you may find the calculator to be more user-friendly and less cluttered without them.

Stick/Unstick Tools:

Select Stick or Unstick to stick or unstick the help and tools panel. Selecting "Stick" will keep the panel in view while scrolling the calculator vertically. If you find that annoying, select "Unstick" to keep the panel in a stationary position.

If the tools panel becomes "Unstuck" on its own, try clicking "Unstick" and then "Stick" to re-stick the panel.