This phrase identifies a specific online tool designed to compute the potential earnings on Certificates of Deposit (CDs) offered by a particular financial institution. Such instruments allow users to input relevant information, such as the CD’s principal amount, interest rate, and term length, to estimate the total return upon maturity. For example, an individual considering investing \$10,000 in a CD with a 2.5% annual interest rate for a term of 3 years would use this tool to project the accrued interest.
The availability of such a resource is important for financial planning. It empowers potential investors to make informed decisions regarding their savings by providing a clear understanding of projected returns. Historically, these calculations were performed manually or required dedicated financial software. The online tool simplifies the process, offering instant projections that can be crucial for comparing different investment options and aligning financial strategies with specific goals.
