Savings & CD Calculator

While investing in the stock market is great for long-term growth, everyone needs a safe place for their short-term cash. Whether it is an emergency fund or a down payment for a house, High-Yield Savings Accounts (HYSA) and Certificates of Deposit (CD) are the go-to choices for American savers.

However, with rates constantly changing, it is hard to know exactly how much your cash will earn. Our Savings & CD Calculator helps you compare terms and rates so you can keep your money working, even when it’s “sitting” in the bank.

1. Savings & CD Calculator

Estimate your passive income by entering your deposit amount, term, and current APY below.

🏦 Savings & CD Calculator

Deposit Amount ($)

Term (Months)

APY / Interest Rate (%)

2. Savings vs. CDs: Which is Right for You?

Understanding where to park your cash depends on your liquidity needs:

High-Yield Savings (HYSA): Best for emergency funds. You earn a competitive rate while maintaining the ability to withdraw your money at any time.
Certificates of Deposit (CD): Best for money you don’t need for 6 months to 5 years. Banks usually pay a higher rate in exchange for “locking” your money for a set term.

3. The “CD Ladder” Strategy

If you want the higher rates of a CD but are afraid of locking all your money away, consider a CD Ladder. Instead of putting $10,000 into one 5-year CD, you could put $2,000 into five different CDs maturing in 1, 2, 3, 4, and 5 years. This gives you higher interest while ensuring a portion of your cash becomes available every year.

4. What Should You Do Next?

Once you have secured your cash reserves, it’s time to focus on long-term wealth creation:

Scale Your Wealth: If you have extra cash beyond your emergency fund, use our Compound Interest Calculator to see how it could grow in the stock market.
Track Your Freedom: See how your total savings bring you closer to your retirement date using our FIRE Calculator.