CD Calculator: Unlock the Potential of Your Savings with Surging CD Rates

In recent years, CD rates have seen a remarkable surge, offering a lucrative opportunity for savers to boost their earnings. While concerns about inflation may loom, this new financial landscape has presented an exciting potential for your investments.

Discover how you can harness the power of rising CD rates with our CD calculator, designed to help you make the most of your savings. Use the calculator below to explore the impressive gains you can achieve in the current CD market and compare various CD options.

CD Calculator

Your Current CD Rates
Our Suggested Rates
Nominal value at maturity:
Inflation-adjusted value at maturity:
*Purchasing power gain/(loss):
(Based on annual compounding)*

How to Use the CD Calculator to Compare Rates

There are five input boxes in the CD comparison calculator. Type over the example amounts in each input box to enter your information. Here’s how:

1. Enter the amount you want to invest

Put in the dollar figure you want to invest in a new CD. Don’t bother with dollar signs or commas — the calculator will take care of those automatically.

2. Enter the term in months

Put in the length of the CD you want. Notice that this is measured in months, so a four-year CD, for example, would be entered as 48 months (4 years x 12 months).

3. Enter the annual inflation rate

The number already in this box is based on the inflation rate over the past 12 months. If you feel inflation may be different going forward and want to input a different rate, simply type a new inflation rate over the existing one.

4. Enter the interest rate on your current CD

Put in the CD rate offered by your current bank.

5. Enter the interest rate for your new CD, or click to select one of our featured banks below to compare rates

If you’ve already identified a possible new CD rate that you want to compare with your current bank’s rate, enter that here. If you want the calculator to show you another alternative, click on one of the bank logos immediately below this instruction line. Clicking on one of those logos will automatically enter that bank’s rate into this field so you can see how it stacks up against your current rate.

When you click on the “calculate” button, your results display immediately below. The column on the left shows amounts that relate to your current bank’s rate, and the column on the right shows amounts based on the potential new rate you chose. Three lines are displayed in each column:

A. Nominal value at maturity

This is the total dollar value the CD will have when it matures, based on the size of the CD you entered and the interest rate you selected.

B. Inflation-adjusted value at maturity

This amount indicates how much the amount you entered above will be worth after inflation when the CD matures, based on the inflation assumption you chose.

C. Purchasing power gain or loss

This amount is the difference between the original value of each CD and the inflation-adjusted value at maturity. If your CD will lose value to inflation over the life of the CD term, this number will be shown in red.

Which Banks Have the Best CD Rates?

Finding the bank with the best savings account to meet your needs is as simple as using our curated list. Try it now and find your high-interest savings account.

Compare Interest Rates on CDs

Besides comparing your current CD rate to inflation, this calculator can also help you weigh your options.

You can enter the interest rate for a new CD you’re considering or see if our featured banks are offering one of the best CD rates for the amount you want to invest. Click on the bank’s logo, if it appears, to automatically populate their current CD rate into the calculator for comparison.

Know Your CD’s Inflation-Adjusted Value at Maturity

Inflation eats into the return you receive on any investment. Knowing how much can help you recognize which CD performs best against inflation and might help protect your assets. Your inflation-adjusted value at maturity tells you how much your current CD rate is likely to gain or lose relative to inflation over the life of your CD.

Choosing the Right Certificate of Deposit

When it comes to selecting a certificate of deposit (CD) that aligns with your financial goals, several key factors demand careful consideration.

Interest Rate

Undoubtedly, the interest rate is a pivotal factor in your CD choice. Higher interest rates typically translate to better earnings. It’s essential to compare the rates various banks or credit unions offer to ensure you’re getting the best return on your investment.


CD terms can vary from three months to five years and sometimes longer. The length of your chosen term should reflect your financial objectives. Short-term CDs may be suitable for quick access to funds, while long-term CDs often yield higher interest rates but necessitate a longer commitment.

Withdrawal Fees

Some CDs impose penalties for early withdrawals. To safeguard your flexibility, it’s wise to opt for CDs with minimal withdrawal fees or, in some cases, consider “no-penalty” CDs that permit limited access to your funds without penalties.

FDIC Insurance 

Ensure your CD is FDIC-insured to protect your investment up to the specified limits.

By carefully assessing these aspects, you can make an informed decision and unlock the full potential of your savings with the surging CD rates we’ve explored.

Frequently Asked Questions (FAQs)

What is the ideal CD term for my financial goals?

The ideal CD term depends on your specific objectives. If you anticipate needing your funds in the short term, consider a 6-12 month CD. A 2-5-year CD might be more suitable for long-term savings or higher interest rates. Carefully assess your needs and risk tolerance to determine your correct term.

What should I do to access my CD funds before the term matures?

Early withdrawals from CDs often incur penalties. To minimize these penalties, consider looking for “no-penalty” or “liquid” CDs, which allow you to withdraw your money with limited or no penalties. Alternatively, plan your investments to align with your anticipated financial requirements.

Are all CDs equally safe, or should I be concerned about the security of my investment?

Not all CDs offer the same level of security. Selecting a CD from a reputable bank or credit union that provides FDIC insurance for up to a specified limit is crucial. This insurance safeguards your investment against the possibility of a bank or credit union failure, offering peace of mind as you grow your savings.