Are you wondering what the future value of a certificate of deposit will be? Additionally, CDs have higher rates of return than savings or money market accounts.

You’ll also see how much money you stand to earn from interest.Certificates of deposit, or CDs, are a sound investment option when you have extra cash that you don't intend to use soon. Nationwide does not take applications, offer, negotiate, arrange or make loans or accept deposits from the public.

The compounding of interest grows your investment without any further deposits, although you may certainly choose to make more deposits over time – increasing efficacy of compound interest. For example, if you are saving a down payment on a car you plan to buy in a year, a CD is ideal.Consider interest rate trends to decide on the ideal term for your CD.

Note, that with these options, steeper deposits, minimum balances and other terms may apply to your CD, so be aware of all terms and conditions. This calculator will help you to determine the future value of a monthly investment at various compounding intervals.

Then click into the calculator and enter the original deposit amount, the annual interest rate, and the number of months before you would like to claim your investment. If interest rates are climbing, choose a shorter-term CD, so you aren't locked in to a lower rate. Each is explained below.First, make sure you know your interest rate, including whether it's fixed or variable, and how often you'll be paid interest. A certificate of deposit is a unique kind of deposit account that generally provides a higher yield than a traditional savings account. Back to Top

Calculate the future value of an investment in a certificate of deposit (CD). Monthly Deposit Savings Calculator To calculate the future value of a monthly investment, enter the beginning balance, the monthly dollar amount you plan to deposit, the interest rate you expect to earn, and the number of years you expect to continue making monthly deposits… As you shop for the perfect CD to fit your investment goals, use our CD calculatorCalculators are provided to help you determine how a loan, line of credit, or deposit account may affect your budget.

Step-up CDs: offer you a periodic bump-up in the interest rate, typically at fixed calendar intervals.

All examples are hypothetical and are for illustrative purposes only. Certificate of Deposit (CD) Calculator As you shop for the perfect CD to fit your investment goals, use our CD calculator 1 to compare interest earnings. Nationwide does not guarantee any products or services offered by Axos Bank.

Axos Bank does not guarantee your results as determined using this calculator. Finish up by choosing a compounding interval from the pull-down menu.Click on CALCULATE, and you’ll see your CD’s future value and annual percentage yield (APY). Specific costs or fees for a banking product or service received from Axos Bank may apply and will be provided in a separate disclosure to you.©2020 Nationwide, the Nationwide N and Eagle and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. When you cash in the CD before the term is up, banks are more limited in how they can invest your money, and they pass this cost on to you in the form of early withdrawal penalties.In deciding whether a CD is right for you, consider your investment time frame. The following guide covers everything you should know about investing in CDs, from their benefits to the kinds available.However, if you cash in your CD before it matures, you will likely have to pay early withdrawal penalties, which can be severe.

In the event of an emergency, do you have other funds you could tap into?

Calculators are provided to help you determine how a loan, line of credit, or deposit account may affect your budget. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.Axos Bank does not endorse the information, content, presentation or accuracy of any other website and claims no responsibility for it. Choosing the right term and type of CD, as well as the right CD investment approach, will result in solid returns with very few drawbacks. Because they feature federal deposit insurance of up to $250,000, CDs are also a low-risk investment. The results offered are estimates and do not guarantee available loan terms, cost savings, or tax benefits. Use this simple savings goal calculator to estimate how much money you can save, depending on your principal, interest rate (APY), and monthly deposits. NOTE: Calculators are provided to help you determine how a loan, line of credit, or deposit account may affect your budget.The results offered are estimates and do not guarantee available loan terms, cost savings, or tax benefits. Nationwide is not a bank or a lender and is not affiliated with Axos Bank or any other bank, except through this limited arrangement.

When you buy a CD, you invest a fixed amount -- typically $500 to $1,000 -- for a fixed period; terms can range from six months to five years or more. We've summarized the six most common kinds of CDs below.In addition to selecting the right type of CD, you'll also need to choose the best investment approach.

Calculator Use.

They offer a more profitable alternative to letting your money languish in a checking account earning negligible interest.

If interest rates are low or if you need the cash at that time, If you need a low-risk, fairly short-term investment, CDs are a simple, smart option. Second, ask what the penalty will be if you withdraw some or all of your deposit before the CD's maturity date.

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