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   What is a certificate of deposit (CD)?

   • A certificate of deposit (CD) is a type of savings account that pays a fixed interest rate on money held for an agreed upon period of time. Offered by both banks and credit unions, CDs differ from standard savings accounts in that CD funds must remain untouched for the entirety of their term—or you'll incur a penalty.

   What Is a Certificate of Deposit (CD) and What Can It Do for You?

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   What is a CD & how does it work?

   • A CD is a type of account offered by banks and credit unions that pays interest on your money for a set period of time. These accounts pay a guaranteed rate of return. CDs sometimes offer a better annual percentage yield (APY) than traditional savings accounts, although the gap isn’t as wide as it once was.

   What is a CD (certificate of deposit)? - Bankrate

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   What is a certificate of deposit (CD) at Bank of America?

   • Learn more about CDs at Bank of America. A certificate of deposit (CD) is a low-risk savings tool that can boost the amount you earn in interest while keeping your money invested in a relatively safe way. Learn more from Better Money Habits about how CDs work and how they can help you reach your savings goals.

   What is a CD and how do they work? - Better Money Habits

   bettermoneyhabits.bankofamerica.com/en/personal-banking/what-is-a-cd-investment

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   How does CD interest work?

   • CD interest works like it does in regular savings accounts. Interest gets compounded over time, meaning that the bank pays you interest on the initial deposit and the accrued interest that the CD earns. Compounding takes place in regular intervals, such as daily or monthly.

   How Do CDs Work? Learn How to Save Smarter - NerdWallet

   www.nerdwallet.com/article/banking/how-do-cds-work

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2. www.investopedia.com › terms › cWhat Is a Certificate of Deposit (CD) and What Can It Do for You?

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   May 22, 2024 · A CD is a type of savings account that pays a fixed interest rate for a fixed term. Learn how CDs work, how to choose one, and how they compare to other bank products.

   • Author: Jason Fernando

   • Video Duration: 2 min

3. bettermoneyhabits.bankofamerica.com › en › personalWhat is a CD and how do they work? - Better Money Habits

   bettermoneyhabits.bankofamerica.com › en › personal

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   A CD account is a low-risk savings tool that pays a fixed interest rate for a fixed term. Learn how CDs work, how to choose a CD, and how to build a CD ladder to take advantage of different rates and terms.

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     How Does a Bank CD Work?

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     What Is a Certificate of Deposit (CD) and What Can It Do for You?

     Dec 31, 2008

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     CD Accounts Explained: Use For Strong Fixed Returns | NerdWallet

     Dec 6, 2022

     47.1K Views

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5. www.thebalancemoney.com › cd-basics-how-cds-workHow Certificates of Deposit (CDs) Work - The Balance

   www.thebalancemoney.com › cd-basics-how-cds-work

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   Mar 4, 2021 · CDs are low-risk, fixed-term deposits that offer higher interest rates than savings accounts. Learn how to choose, start, and use CDs, and compare them with other investment options.

6. www.nerdwallet.com › article › bankingHow Do CDs Work? Learn How to Save Smarter - NerdWallet

   www.nerdwallet.com › article › banking

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   Mar 21, 2024 · CDs are savings accounts with fixed interest rates and terms, usually ranging from three months to five years. They offer higher rates than regular bank accounts, but also have penalties for early withdrawal.

   • Video Duration: 6 min

7. www.bankrate.com › banking › cdsWhat is a CD (certificate of deposit)? - Bankrate

   www.bankrate.com › banking › cds

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   Oct 2, 2023 · A certificate of deposit (CD) is a low-risk deposit account that earns a fixed rate of return. In exchange for this guaranteed yield, you agree to lock up your money until the CD’s term...

   • Choosing a CD term should be based on when you’ll need access to the money. For instance, if you plan to go on vacation in a year, a one-year CD co...
   • One factor that can affect CD rates is changes to the Federal funds rate, which is the Federal Reserve’s benchmark rate. When this rate goes up, co...
   • Types of CDs include traditional CDs, no-penalty CDs, jumbo CDs, bump-up CDs, step-up CDs, zero-coupon CDs, callable CDs and IRA CDs.

8. www.nerdwallet.com › article › bankingWhat Is a CD (Certificate of Deposit)? - NerdWallet

   www.nerdwallet.com › article › banking

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   Mar 13, 2024 · A CD, or certificate of deposit, is a type of savings account with a fixed interest rate usually higher than a regular savings account's rate.

9. www.bankrate.com › banking › cdsHow Do CDs Work? | Bankrate

   www.bankrate.com › banking › cds

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   Mar 25, 2024 · Certificates of deposit (CDs) are time deposit financial products that hold your funds for a set period. In exchange, you get fixed interest earnings, making CDs a reliable way to earn a...