Estimate your certificate of deposit returns based on current market rates.
Daily
Monthly
Quarterly
Annually
Total Balance:$0.00
Total Interest Earned:$0.00
Maturity Date:–
Maximizing Your Savings with Horizon Bank CD Rates
Horizon Bank offers a variety of Certificate of Deposit (CD) options designed to help savers lock in competitive yields for fixed periods. Unlike a standard savings account, a CD guarantees your interest rate for the duration of the term, making it an excellent vehicle for low-risk growth.
How Horizon Bank CD Calculations Work
The earnings on a CD are determined by the Annual Percentage Yield (APY), the initial deposit, and the compounding frequency. Horizon Bank typically compounds interest monthly or daily, which allows your interest to earn interest, accelerating your savings growth.
Example Calculation:
If you deposit $25,000 into a 24-month CD at an APY of 4.25% with monthly compounding, your total interest earned would be approximately $2,111.45, resulting in a final balance of $27,111.45.
Common CD Terms Offered
Short-Term (3-6 Months): Ideal for funds you might need in the near future but want to earn more than a liquid account.
Mid-Term (12-18 Months): Often features the "sweet spot" for promotional rates.
Long-Term (36-60 Months): Best for long-range financial goals like a home down payment or retirement padding.
Note: Early withdrawal penalties may apply if you access funds before the maturity date. Rates are subject to change based on market conditions and specific Horizon Bank branch offerings.
function calculateHorizonCD() {
var principal = parseFloat(document.getElementById('hz_deposit').value);
var apy = parseFloat(document.getElementById('hz_apy').value) / 100;
var months = parseFloat(document.getElementById('hz_term').value);
var n = parseFloat(document.getElementById('hz_compound').value);
if (isNaN(principal) || isNaN(apy) || isNaN(months) || principal <= 0) {
alert("Please enter valid positive numbers for all fields.");
return;
}
// Time in years
var t = months / 12;
// Compound Interest Formula: A = P(1 + r/n)^(nt)
// Note: Since APY already accounts for compounding within one year,
// the standard formula for periodic rate from APY is used.
// But most bank calculators use the nominal rate approach.
// To be accurate to bank disclosures, we calculate based on the APY formula.
var totalBalance = principal * Math.pow((1 + (apy / n)), (n * t));
var totalInterest = totalBalance – principal;
// Format Currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
});
// Calculate Maturity Date
var today = new Date();
today.setMonth(today.getMonth() + Math.round(months));
var dateOptions = { year: 'numeric', month: 'long', day: 'numeric' };
// Update DOM
document.getElementById('hz_total_balance').innerText = formatter.format(totalBalance);
document.getElementById('hz_total_interest').innerText = formatter.format(totalInterest);
document.getElementById('hz_maturity_date').innerText = today.toLocaleDateString(undefined, dateOptions);
document.getElementById('hz_results').style.display = 'block';
}