*Calculations assume fixed rate and compounding frequency selected. Actual Unibank rates may vary based on product and region.
function calculateUnibankCD() {
// 1. Get Input Values
var depositInput = document.getElementById('depositAmount').value;
var termInput = document.getElementById('cdTerm').value;
var rateInput = document.getElementById('interestRate').value;
var compoundInput = document.getElementById('compoundFreq').value;
// 2. Validate Inputs
if (depositInput === "" || termInput === "" || rateInput === "") {
alert("Please fill in all fields (Deposit Amount, Term, and Interest Rate).");
return;
}
var P = parseFloat(depositInput); // Principal
var t_months = parseFloat(termInput); // Time in months
var r_percent = parseFloat(rateInput); // Rate in percent
var n = parseFloat(compoundInput); // Compounding frequency
if (isNaN(P) || P < 0) {
alert("Please enter a valid positive deposit amount.");
return;
}
if (isNaN(t_months) || t_months <= 0) {
alert("Please enter a valid term in months.");
return;
}
if (isNaN(r_percent) || r_percent < 0) {
alert("Please enter a valid interest rate.");
return;
}
// 3. Calculation Logic
// Formula: A = P * (1 + r/n)^(n*t)
// t needs to be in years for the standard formula
var t_years = t_months / 12.0;
var r_decimal = r_percent / 100.0;
// Calculate Future Value (A)
var base = 1 + (r_decimal / n);
var exponent = n * t_years;
var futureValue = P * Math.pow(base, exponent);
// Calculate Total Interest
var totalInterest = futureValue – P;
// 4. Format Output
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
document.getElementById('displayPrincipal').innerText = formatter.format(P);
document.getElementById('displayInterest').innerText = formatter.format(totalInterest);
document.getElementById('displayTotal').innerText = formatter.format(futureValue);
// 5. Show Results
document.getElementById('resultsArea').style.display = 'block';
}
Understanding Unibank CD Rates and Returns
Investing in a Certificate of Deposit (CD) is a secure strategy for growing your savings with a guaranteed return. Our Unibank CD Rates Calculator helps you estimate how much interest you can earn based on your deposit amount, the term length, and the Annual Percentage Yield (APY).
How to Use This Calculator
To get an accurate projection of your earnings, follow these steps:
Initial Deposit Amount: Enter the total amount of money you plan to open the CD with. Unibank may have minimum deposit requirements for specific CD tiers.
CD Term (Months): Input the duration of the CD. Common terms range from 6 months to 60 months (5 years). Generally, longer terms offer higher APY rates.
Annual Percentage Yield (APY): Enter the current interest rate offered. You can find current rates on the official Unibank website or local branch listings.
Compounding Frequency: Select how often interest is calculated and added to your balance. Most consumer CDs compound interest monthly or daily.
Why Choose a CD?
Certificates of Deposit are time deposits. Unlike a standard savings account, you agree to leave your money in the bank for a set period. In exchange, banks like Unibank typically offer higher interest rates than standard savings or checking accounts. This makes CDs an excellent vehicle for short-to-medium-term savings goals, such as a down payment on a house or a wedding fund.
Factors Affecting Your Returns
Principal: The more you deposit, the more interest you accrue, thanks to the power of compounding.
Rate (APY): Even a small difference in APY can significantly impact earnings over long terms.
Duration: Longer commitments usually yield better rates, but ensure you won't need the liquidity, as early withdrawal penalties often apply.
Frequently Asked Questions (FAQ)
What is the difference between Interest Rate and APY?
The interest rate is the annualized percentage of interest paid on the principal. The APY (Annual Percentage Yield) takes into account the frequency of compounding. The APY gives you a more accurate representation of your actual earnings over a year.
Is my money safe in a Unibank CD?
In the United States, CDs at FDIC-insured banks are insured up to legal limits (typically $250,000 per depositor, per ownership category). This makes them one of the safest investment vehicles available.
Can I withdraw my money early?
While you physically can withdraw funds before maturity, doing so usually incurs an "Early Withdrawal Penalty." This penalty is often calculated as a number of months' worth of interest (e.g., 3 or 6 months of interest), which can eat into your principal if the CD hasn't been held long enough.
Does Unibank offer different rates for different terms?
Yes, typically banks follow a yield curve where longer terms (e.g., 48 or 60 months) offer higher rates than shorter terms (e.g., 6 or 12 months), though this can vary depending on the economic environment and federal interest rate benchmarks.