Savings and CD calculator
Which account or CD term earns the most? Grow a savings balance at any APY, see what breaking a CD early really costs, build a CD ladder, and compare savings, CDs and Treasuries after tax, starting from this month's FDIC national average rates.
Quick answer: Over one year, $10,000 earns about $38 at the FDIC national average savings rate (0.38%) or $176 in a 12-month CD at the national average CD rate (1.76%), as of Oct 19, 2026.
By John Crane, MBA & the Editorial Team · Updated for the 2026 tax year. How we check our numbers
Balance after 5 years
$22,304.04
$304 of interest at 0.38% APY. At the national average (0.38%) you would have $22,304
| Your deposits | $22,000 | 98.6% |
|---|---|---|
| Interest earned | $304 | 1.4% |
- Final balance
- $22,304
- Total deposited
- $22,000
- Interest earned
- $304
- First month's interest
- $3.16
- In today's dollars
- $18,563
- vs national average
- -
Growth over time
Year by year
| Year | Deposits | Interest | Balance | Today's dollars |
|---|---|---|---|---|
| 1 | $2,400.00 | $42.18 | $12,442.18 | $11,993.62 |
| 2 | $2,400.00 | $51.46 | $14,893.63 | $13,839.11 |
| 3 | $2,400.00 | $60.77 | $17,354.41 | $15,544.30 |
| 4 | $2,400.00 | $70.12 | $19,824.53 | $17,116.62 |
| 5 | $2,400.00 | $79.51 | $22,304.04 | $18,563.18 |
How this is calculated
APY growth
monthly rate = (1 + APY)^(1/12) − 1
APY already includes compounding, so twelve months at the monthly rate earn exactly the APY. Deposits are added at the end of each month. A partial-year CD earns (1 + APY)^(months / 12).
Early withdrawal and ladders
The penalty is months of simple interest on the deposit at the CD rate, the most common bank formula. The break-even APY is what a new account must pay over the rest of the term to beat keeping the CD. A ladder splits money evenly across terms and, by default, reinvests each maturity in the longest term.
Rates and taxes
Default rates are the FDIC national averages (deposit-weighted rates paid, updated monthly) and the Treasury yields the FDIC lists for similar terms; enter your own to replace them. Interest is taxed at your marginal federal and state rates from our tax engine; Treasury interest is exempt from state and local tax.
Sources
Related guides
- I bonds vs high-yield savings vs CDsCurrent I bond, savings and CD rates side by side, the lockups, penalties and taxes, and which fits an emergency fund, a near-term goal or inflation.
- How to build a CD ladderHow a CD ladder spreads savings across terms so some money frees up every year, what it earns at today's rates, and when breaking a CD early pays.
Questions
What is the national average savings rate?
0.38% according to the FDIC (Oct 19, 2026). Many online banks pay several percentage points more, so the same balance can earn many times as much interest.
Should I break a CD to get a higher rate?
Only if the new rate beats the break-even APY for the rest of the term. Early in a long CD the penalty can even eat into your deposit; the CD tab shows the month your principal becomes safe.
Are Treasury bills better than CDs?
Often after tax. Treasury interest is free of state and local income tax, so in a high-tax state a Treasury yielding a little less than a CD can leave you with more. The Compare tab runs the numbers for your income and state.