Certificate Calculator
Find out how much you can earn on a certificate. We just need a bit of info from you to estimate how much you’ll earn in interest and what your ending balance will be.
This calculator is for general education purposes only and is not an illustration of current Navy Federal products and offers.
How to Use the Certificate Calculator
Here's what to add to each field.
Initial Deposit: This is how much you plan to deposit in your certificate account.
Deposit Term (number): Certificates have different terms like 18 months or 5 years. Fill in the number of years or months that corresponds with your certificate’s term. For example, add 18 for an 18-month certificate or 5 for a 5-year certificate.
Deposit Term (type): Choose how your certificate’s term is measured (days, months or years).
Interest Rate: Use the certificate’s published interest rate (which may appear as “annual percentage rate” or “APR”), not the annual percentage yield (APY). The interest rate is the rate your financial institution will pay on your money. The APY takes into account compounded interest.
Compounding Frequency: Not only do you earn interest on your original balance, but also on the interest you've earned. This field allows you to add how often that happens.
Note: An annual percentage yield (APY) factors in what you earn on your initial deposit plus compound interest. The amount depends on the compounding frequency and the interest rate.
Please note, this calculator’s results are hypothetical. It can’t predict future rates with certainty.
How Does This Calculator Work?
The formula our calculator uses to arrive at its results is: APY = (1 + r/n )n n – 1
Terms for this formula are defined as:
r = annual interest rate
n= number of compounding periods each year
Benefits of Saving With Share Certificates
Certificates are considered a low-risk way to save money because they’re not tied to market fluctuations. Plus, you get guaranteed returns, which are generally higher than what you’d earn with a standard savings account.
Additional Resources
Certificate Rates
Maximize your savings with a Navy Federal certificate. Take a look at our dividend rates to see what you can earn.
Cash Out or Roll Over?
Need help deciding what to do when your certificate matures? Read about your certificate maturity options.
Certificate Laddering Strategy
Save smart and earn the best rate possible by laddering certificates.
Frequently Asked Questions
Can I use this calculator for different types of certificates?
Yes.
What are share certificates?
Share certificate is a term used by credit unions to describe a special type of savings account. Depositors agree to leave their money in a certificate account for a set period of time. In exchange, their credit union agrees to pay a rate of interest that probably will be higher than what they’d earn on a regular savings account.
What’s the difference between a share certificate and a CD?
These two types of savings accounts are the same. Banks usually refer to their certificates as “CDs” or “Certificates of Deposit,” and credit unions refer to theirs as “share certificates.”
Is buying share certificates worth it right now?
Yes. Since they offer guaranteed returns, no matter what is happening in the stock market, you’ll earn the rate stated when you opened your account—for your certificate’s entire term—unless you withdraw funds early.
What happens if I withdraw funds before the certificate matures?
You’ll probably pay an early withdrawal penalty. These vary from institution to institution. Usually, it means you’ll forfeit the interest you would have earned for some period just prior to your withdrawal. It could be anywhere from 60 days to 6 months, depending on your certificate’s term and how soon you withdrew the funds. Generally, the longer the term, the higher the penalty. You should review the certificate’s terms and conditions before you open an account.