The choice of where to invest, without any concern, can be a serious approach. It significantly impacts returns. As we navigate further to the realm of certificate of deposit rates, each bank vies for attention with distinct offers.

Among them, Univest Bank stands out with its range of CD terms and rates. Let’s delve into how Univest’s CD rates compare against prominent competitors, unveiling the nuances that could shape your investment decisions.

Univest CD Rates Offers

The authenticity of the CD offers can be noticed from the following terms;

26 Weeks CD Term

  • Interest Rate: 0.10%
  • APY (Annual Percentage Yield): 0.10%
  • Considerations:
    • Ideal for individuals with immediate liquidity needs or those awaiting better investment opportunities in the near future.
    • Lower returns compared to longer-term CDs.

Pros & Cons

ProsCons
Short-term commitmentLow interest rate
Quick liquidityLimited potential for substantial gains

12 Months CD Term

  • Interest Rate: 0.35%
  • APY (Annual Percentage Yield): 0.35%
  • Considerations:
    • Suitable for individuals with a medium-term investment horizon.
    • Offers a balance between returns and accessibility.

Pros & Cons

ProsCons
Balanced termModerate interest rate

24 Months CD Term

  • Interest Rate: 0.45%
  • APY (Annual Percentage Yield): 0.45%
  • Considerations:
    • Appropriate for those with a medium to long-term investment strategy.
    • Offers a slightly higher return for sacrificing liquidity for a more extended period.

Pros & Cons

ProsCons
Potential for better returnsLimited liquidity for two years

36 Months CD Term

  • Interest Rate: 0.50%
  • APY (Annual Percentage Yield): 0.50%
  • Considerations:
    • Suited for individuals with a longer-term financial outlook.
    • Offers a balance between competitive returns and tying up funds for a reasonable period.

Pros & Cons

ProsCons
Competitive interest rateTied-up funds for three years

60 Months CD Term

  • Interest Rate: 0.65%
  • APY (Annual Percentage Yield): 0.65%
  • Considerations:
    • Geared towards investors with a long-term investment horizon and the ability to commit funds for an extended period.
    • Offers the highest return but requires a significant commitment of time.

Pros & Cons

ProsCons
Maximum potential for growthLimited liquidity for five years

How do Univest CD Rates Compare?

Univest Bank’s CD rates, ranging from 0.10% to 0.65% for terms of 26 weeks to 60 months, differ significantly from those offered by other institutions.

In comparison to Bread Savings, First National Bank of America, and Crescent Bank, which all provide a notably higher 12-month rate of 5.50%, Univest Bank’s 0.35% may be perceived as less competitive.

Similarly, Alliant Credit Union offers a higher 18-month rate at 5.30%, while Prime Alliance Bank provides a 5.30% rate for a 6-month term.

Therefore, when considering the 12-month term, Univest Bank’s rates appear relatively lower than those of some competitors in the current market.

Overview Univest 

Univest not only offers competitive rates for their CDs but also boasts quality services such as insurance, investments, and other general banking concerns such as personal loans or IRAs. 

Univest is a member of the FDIC and has approximately $6.1 Billion in assets. Their mission statement reads, “To be the best integrated financial solutions provider in the market.”

Univest Bank requires a membership to be established before setting up a CD. When setting up a checking or savings account, be sure to bring proper documentation with you to allow for a smooth and seamless process. 

Univest does not charge any initial fees to set up an account. 

Availability 

Univest Bank requires a membership to be established before setting up a CD. When setting up a checking or savings account, be sure to bring proper documentation with you to allow for a smooth and seamless process. Univest does not charge any initial fees to set up an account. 

Locations Univest 

Allentown, Bensalem, Bethlehem, Blue Bell, Brownstown, Chalfont, Christiana, Collegeville, Colmar, Doylestown, East Greenville, Franconia, Gordonville, Harleysville, Hatboro, Hatfield, Lahaska, Milford Square, Montgomeryville, Newtown, Perkasie, Philadelphia (Mount Airy, South Philadelphia, Chestnut Hill, Fairmount, University City), Plumsteadville, Richboro, Ronks, Schwenksville (Skippack), Souderton (Hilltown), Warminster, West Chester, Willow Grove, Willow Street

Frequently Asked Questions

What is the minimum investment for a 60 Months CD?

The minimum investment for a 60-month CD is typically [insert minimum amount], offering a high interest rate for a long-term commitment.

Can I withdraw funds before maturity with a 36-month CD?

While premature withdrawals are possible, they often incur penalties. Consider the 36-month CD if you can commit to the specified term for optimal returns.

How is interest paid for the 24 Months CD?

Interest for the 24-month CD is typically compounded and paid annually, providing the potential for increased returns over the two-year term.

Are there any special promotions for the 12 Months CD?

Check for ongoing promotions, but generally, the 12-month CD offers a balanced term with a competitive interest rate for individuals seeking a medium-term commitment.

What happens at the end of the 26-week CD term?

At the end of the 26-week CD term, you can choose to renew the CD, withdraw the funds, or explore other investment options. Keep in mind the shorter commitment period and lower interest rate for this option.