How this calculator works
This fixed-rate CD model retains each interest credit and compounds at the selected frequency. It permits fractional periods by exponential interpolation. Interest payouts, early withdrawal charges, account-specific day counts and tax are excluded. Use the contractual nominal rate rather than an advertised APY unless you first convert that yield.
Formula
F = P(1+j/m)^(mt). For continuous compounding, F = P exp(jt). Interest = F - P; APY = (F/P)^(1/t) - 1.
Worked example
A $10,000 deposit at 5% compounded annually for two years matures at $11,025, including $1,025 interest. A $1,000 deposit at 12% nominal compounded monthly reaches $1,126.83 after one year.
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Frequently asked questions
Does the calculator include an early withdrawal penalty?
No. The contract determines that charge, which can depend on interest earned or a number of months.
Is a CD the same product as a Canadian GIC?
Both can be term deposits, but eligibility, guarantees, insurance and withdrawal rules depend on the institution and jurisdiction.
What happens at zero interest?
The maturity balance equals the initial deposit. A unique term cannot be inferred from that unchanged balance.