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- DictionaryCer·tif·i·cate of de·pos·it
noun
- 1. a certificate issued by a bank to a person depositing money for a specified length of time.
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What are certificates of deposit? A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, such as six months, one year, or five years, and in exchange, the issuing bank pays interest. When you cash in or redeem your CD, you receive the money you originally invested plus any interest.
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...
3 days ago · Learn about certificate of deposit (CD) types, how they work, and how they can fit into your savings goals. Browse Investopedia’s expert-written library for more.
May 30, 2023 · What Is a CD? A CD is a type of savings account you can open at banks and credit unions. In exchange for keeping your money in a CD for a set period of time, called a...
Feb 23, 2024 · A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, such as six months, one year, or five...
Jul 22, 2023 · Key Takeaways. A fixed-rate certificate of deposit (CD) is a type of savings account that locks up your money with a set interest rate for a set term. Upon...
A certificate of deposit (CD) is a time deposit sold by banks, thrift institutions, and credit unions in the United States. CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates.
