I don't understand how bank CDs work? Do they earn interest every month or and the end of the term?

Question

So when a bank CD says they're going to give 4.11% APY does that mean that they're going to give you 4.11% every month or at the end of the term they're gonna give you 4.11% of what you put in?

Answer 1

They earn interest every month but it is reinvested, not given to you until the end of the term.

Answer 2

Also the 4.11% is ANNUAL Percentage Rate and that figures in the compounding. The monthly rate will be a little less than 4.11% divided by 12 months.  And you don't get it until you cash it in or the end of the term.