How do you calculate APR on a CD?

APR = n × ((1 + APY)^(1/n) − 1), where APY is the quoted yield as a decimal and n is the number of compounding periods per year. It converts an effective annual yield back into the nominal rate that is actually applied at each compounding period. A 4.60% APY compounded daily corresponds to a 4.50% APR. You need this conversion whenever a bank hands you an APY but a calculator, a spreadsheet or a comparison expects a nominal rate — entering an APY where a nominal rate belongs applies compounding a second time and overstates the result. APR is always the lower of the two figures on any account compounding more than once a year, and the gap widens as the rate and the compounding frequency rise. It is the rate the bank works with internally; APY is the rate it advertises.

Which is higher on a CD, APR or APY?

APY is higher on any CD that compounds more than once a year, and the two are identical only when interest compounds exactly annually. The reason is that APY includes the effect of interest earning interest, while APR is the plain nominal rate applied at each compounding period. A 4.40% APR compounded daily produces a 4.50% APY — a gap of ten basis points that widens as either the rate or the compounding frequency increases. On a $10,000 deposit that difference is worth about $10 over a year, which sounds trivial until you compare two offers where one is quoted as APR and the other as APY and assume they are equivalent. They are not. Regulation DD requires US institutions to disclose APY precisely so that offers can be compared on a single consistent number.

Why do banks advertise APY instead of APR on CDs?

Two reasons, and only one of them is marketing. Regulation DD, the Truth in Savings rule at 12 CFR Part 1030, requires US institutions to disclose APY on deposit accounts, so it is a legal obligation rather than a choice. The reason the rule exists is that APY is genuinely the more useful figure: it folds compounding frequency into one number, so a CD paying 4.40% compounded daily and one paying 4.50% compounded annually can be compared directly — they are both 4.50% APY and identical for a saver. The marketing benefit is real too, since APY is always the higher of the two figures on an account compounding more than once a year. On $10,000 over a year the difference is around $10, so the advertising advantage is smaller than the comparability benefit.

CD APR Calculator

Rechnen Sie einen beworbenen CD-APY zurück in den APR.

Convert a CD's advertised APY back to its nominal APR and see exactly what compounding is contributing.

Bei Fälligkeit: 10.460,00 $
Zinsen: 460,00 $

Ihr CD

Anlagebetrag

Zinssatz

Zinssatz angegeben als

Laufzeit

Mon.

1 Jahr

Übliche Laufzeiten

Zinseszins-Intervall

Wert bei Fälligkeit: 10.460,00 $
Gesamtzinsen: 460,00 $
Nominaler APR: 4,50%

10.000,00 $ in einem CD über 1 Jahr zu 4,60% APY, täglich verzinst, wächst auf 10.460,00 $ — das sind 460,00 $ Zinsen, im Schnitt 38,33 $ pro Monat.

Guthaben über die Laufzeit

KapitalZinsen

Die Zahlen als Tabelle anzeigen

Guthaben über die Laufzeit
Monat	Kapital	Zinsen	Guthaben
Bei Eröffnung	10.000,00 $	0,00 $	10.000,00 $
2mo	10.000,00 $	75,24 $	10.075,24 $
5mo	10.000,00 $	189,16 $	10.189,16 $
7mo	10.000,00 $	265,82 $	10.265,82 $
10mo	10.000,00 $	381,89 $	10.381,89 $
1y	10.000,00 $	460,00 $	10.460,00 $

Calculated in your browser using A = P(1 + r/n)^nt. Nothing is sent to a server. Figures are before tax; confirm exact terms with your bank.

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Formeln und Inhalte zuletzt geprüft 21. Juli 2026. Bankzinsen ändern sich häufig – bestätigen Sie die aktuellen Konditionen direkt bei Ihrem Institut.

Die kurze Antwort

Wie berechnet man den APR eines CD?

A CD's APR is its nominal annual rate before compounding — the rate actually applied at each compounding period — and it converts from APY as APR = n × ((1 + APY)^(1/n) − 1). A 4.60% APY compounded daily corresponds to a 4.50% APR. You need this conversion whenever a bank quotes you a nominal or "interest rate" figure rather than APY, because entering a nominal rate into a calculator expecting APY applies compounding twice and overstates your return. It also matters when comparing a CD against a product quoted in APR, such as a loan you might otherwise pay down. APR is always the lower of the two numbers on any account compounding more than once a year, which is why marketing leads with APY, and why Regulation DD makes APY the required disclosure.

Formel & Methode

So wird gerechnet

APR = n × ((1 + APY)^(1/n) − 1)

Strips the compounding effect back out of an advertised yield.

APR: Nominal annual rate, before compounding
APY: Advertised annual percentage yield, as a decimal
n: Compounding periods per year

Schritt für Schritt

1
Convert the advertised APY to a decimal (4.60% → 0.046).
2
Add 1 to get the annual growth factor.
3
Take the n-th root — raise it to the power of 1 ÷ n.
4
Subtract 1 to get the rate for a single compounding period.
5
Multiply by n and by 100 for the annualised nominal rate.

Anleitung

So verwenden Sie diesen Rechner

Vier Eingaben, sofortige Ergebnisse. Nichts abzuschicken und nichts zu registrieren.

1
Enter the advertised rate
Type the bank's quoted figure and set the toggle to APY, which is how deposit rates are normally published.
2
Match the compounding frequency
This drives the conversion. Daily compounding creates the largest gap between APY and APR.
3
Read both rates
The result card shows APY and APR together, so you can see precisely what compounding contributes.

Beispiele

Rechenbeispiele

Echte Zahlen, vollständig durchgerechnet – damit Sie den Rechner gegen Ihre eigenen Werte prüfen können.

Converting a 4.60% APY quote on a daily-compounding CD

Advertised: 4.60% APY
Compounding: Daily (n = 365)

Nominal APR: 4.50%
Contributed by compounding: 0.10 pts

The bank credits interest at a 4.50% annual rate; daily compounding is what lifts the effective yield to 4.60%.

Methodik

Genauigkeit & Annahmen

Jeder Rechner trifft Annahmen. Hier sind unsere, klar benannt, damit Sie genau wissen, was die Zahlen berücksichtigen – und was nicht.

APR here means the nominal deposit rate. On loans, APR also includes fees — that is a different calculation entirely.
The conversion assumes interest compounds at the stated frequency and stays in the account.
A 365-day year is used, consistent with Regulation DD.

Die Konventionen folgen Regulation DD (12 CFR 1030), die regelt, wie US-Institute den APY auf Einlagenkonten ausweisen. Einlagen bei versicherten Instituten sind durch die FDIC bis $250,000 je Einleger, je Bank und je Kontoart geschützt.

Primärquellen

Woher diese Regeln stammen

Die Konventionen, denen dieser Rechner folgt, werden von Aufsichtsbehörden festgelegt, nicht von uns. Jede verweist auf die herausgebende Stelle, damit Sie sie nachprüfen können, statt uns glauben zu müssen.

Einzelheiten

Wichtige Details und Regeln

Schnell erfassbare Fakten, die Sie vor dem Abschluss oder der Verlängerung eines CD kennen sollten.

For deposits, APY > APR whenever interest compounds more than once a year. For loans the relationship is reversed in effect, because fees inflate loan APR.
If a bank quotes only an 'interest rate' with no APY label, treat it as the nominal APR and convert before comparing.
The APY–APR gap scales with the rate: about 0.01 points at 1%, roughly 0.13 points at 5%.
If your CD pays interest out monthly rather than compounding it, your realised return matches the APR, not the APY.

Wie das zusammenhängt

Für wen dieser Rechner gedacht ist

Detail-oriented savers
You want to know the mechanics behind the advertised number rather than take it at face value.
Spreadsheet modellers
You are building your own projection and need the nominal rate to feed a period-by-period model.

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