Calculate Your Savings at Maturity

A Certificate is a savings instrument offered by a bank or credit union that has a fixed date of maturity and a fixed dividend rate. A credit union might use the term Share Certificate, Term Certificate or just Certificate to refer to the same product. Most Certificates require a minimum deposit amount and may offer rates contingent on the size of the deposit. The dividends you earn on your deposit depends on the dividend rate, the term of the deposit and the compounding method. Deposits that compound with greater frequency will have a higher Annual Percentage Yield, or APY. Your APY is the effective annual rate of return once the effect of compounding dividends are factored in. Most Certificates restrict access to the funds until the Certificate reaches its maturity date.