Certificate Of Deposit (CD) Calculator

Use the calculator below to estimate how much you could earn from your certificate of deposit (CD). Enter the information required (*) and press the Calculate button to see your results.

Calculate Now

Rivers Edge Bank offers CD terms ranging from 91 days to five years for individuals and families planning for the future. Whether you’re saving for a down payment, wedding, education or another milestone or simply looking to grow your earnings, our CD calculator provides an estimate of your earning potential. In general, longer terms result in higher gains.

CDs are fee-free as long as you keep money in your account for the full term length. Please note penalty fees will be applied for early withdrawals requested before the term is over. Our CDs require a minimum deposit of $500 to get started.

For more information about CD terms and conditions, please contact our team at your local Rivers Edge Bank.

What Is The Difference Between APY & Interest Rate?

When you shop for a certificate of deposit (CD), you might see two different numbers for rates: the interest rate and the Annual Percentage Yield (APY). The interest rate is the basic number the bank pays you for your deposit. But it doesn’t tell the whole story. Most CDs add your earned interest back into your account on a regular schedule, and that new total then earns interest, too. This is referred to as compounding.

Different banks may compound and pay interest at different times—daily, monthly, quarterly or yearly. Because of this, two CDs with the same interest rate could actually earn you different amounts. That’s why APY is the key number to compare CD rates. APY includes the effects of compounding and shows how much you will really earn in one year.

Since every bank is required to advertise CD rates using APY, it gives you a fair, apples-to-apples way to shop. If you want to understand how CDs grow your savings, always look at the APY, as it’s the most accurate measure of your earnings.

CD Calculator