Understanding Truliant Certificate of Deposit (CD) Earnings
When considering savings options at Truliant Federal Credit Union, Certificates (CDs) often offer higher yields than traditional savings accounts in exchange for locking your funds for a set period. This Truliant CD Rates Calculator helps you estimate the future value of your deposit based on current APY offerings and term lengths.
Note on APY vs. Interest Rate: This calculator uses Annual Percentage Yield (APY). The APY reflects the total amount of interest paid on an account based on the interest rate and the frequency of compounding for a 365-day period. Truliant typically compounds dividends monthly or at maturity depending on the specific certificate product.
How the Calculation Works
Calculating the return on a CD involves compound interest logic. Unlike simple interest, where you only earn on your principal, compound interest allows you to earn interest on the interest you have already accumulated. The formula used in our estimation is:
Future Value = Principal × (1 + APY)(Months / 12)
Key Factors Affecting Your Return
Opening Deposit: Truliant often has minimum deposit requirements (e.g., $250 or $1,000) for different certificate tiers. A higher principal generates more absolute interest.
Term Length: Terms can range from a few months to several years. Generally, longer terms offer higher APYs, though "Special" promo rates may target specific terms like 11, 15, or 19 months.
APY (Annual Percentage Yield): This is the most critical metric. Even a small difference in APY (e.g., 4.25% vs 4.50%) can significantly impact earnings on large balances over long terms.
Taxes: Interest earned on CDs is generally considered taxable income by the IRS. The calculator includes an optional tax estimation field to help you see your net earnings.
Types of Truliant Certificates
Truliant Federal Credit Union typically offers a variety of certificate structures:
Regular Certificates: Standard fixed rates for fixed terms ranging from 6 to 60 months.
Bump Rate Certificates: These allow you to "bump up" your rate once during the term if Truliant's current rates increase.
Flex Certificates: These may allow for additional deposits or penalty-free withdrawals under specific conditions.
Always verify the current rates and terms directly with Truliant Federal Credit Union before opening an account, as rates are subject to change without notice.
function calculateCDReturns() {
// Get input values
var principal = document.getElementById('depositInput').value;
var apyPercent = document.getElementById('apyInput').value;
var months = document.getElementById('termInput').value;
var taxRatePercent = document.getElementById('taxRateInput').value;
// Validate inputs
if (principal === "" || apyPercent === "" || months === "") {
alert("Please fill in the Deposit Amount, APY, and Term to calculate.");
return;
}
var p = parseFloat(principal);
var apy = parseFloat(apyPercent);
var m = parseFloat(months);
var taxRate = parseFloat(taxRatePercent);
if (isNaN(p) || p < 0) {
alert("Please enter a valid positive deposit amount.");
return;
}
if (isNaN(apy) || apy < 0) {
alert("Please enter a valid APY percentage.");
return;
}
if (isNaN(m) || m 0) {
estimatedTax = totalInterest * (taxRate / 100.0);
}
// Display Results
// Format numbers to Currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2,
maximumFractionDigits: 2
});
document.getElementById('displayInterest').innerHTML = formatter.format(totalInterest);
document.getElementById('displayTax').innerHTML = formatter.format(estimatedTax);
document.getElementById('displayTotal').innerHTML = formatter.format(futureValue);
// Show results container
document.getElementById('resultsDisplay').style.display = 'block';
}