A multilayer capacitor having a capacitor body, first and second inner electrodes, and first and second terminal electrodes. A first terminal electrode is arranged on a first surface of the capacitor body which is parallel to a first direction, and connected to the first inner electrode. A second terminal electrode is connected to the second inner electrode. The first inner electrode has a first main electrode portion including a first no-capacity generating region and a first capacity generating region, and a first lead electrode portion. In a second direction, the first terminal electrode is set smaller than the first surface, while the first lead electrode portion is set smaller than the first main electrode portion. The first no-capacity generating region and the first lead electrode portion overlap each other in the second direction when seen in the first direction.