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    • Key takeaways:

      • A CD is a type of savings account with a fixed time period and interest rate.
      • CDs tend to have higher rates than regular savings accounts but don’t allow easy access to your money until a term ends.
      • Consider a CD for two reasons: to have guaranteed returns without much risk and to have a safe place for savings earmarked for future use.
      www.nerdwallet.com/article/banking/cd-certificate-of-deposit
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  2. Certificate of Deposit (CD) Definition & How CDs Work

    www.investopedia.com › c › certificateofdeposit

    A certificate of deposit (CD) is a product offered by banks and credit unions that provides an interest rate premium in exchange for the customer agreeing to leave a lump-sum deposit untouched for...

  3. Mar 23, 2021 · A certificate of deposit, commonly called a CD, is a special savings account you can open at most banks and credit unions. But unlike a regular savings account, CDs require you to lock your funds away for a specific period of time until a maturity date. In return, you’ll get a higher interest rate.

  4. What Is a CD (Certificate of Deposit)? - NerdWallet

    www.nerdwallet.com › cd-certificate-of-deposit

    A CD, or certificate of deposit, is a type of savings account with a fixed interest rate that’s usually higher than a regular savings account, a fixed term length and a fixed date of withdrawal,...

  5. What Is A Certificate of Deposit (CD) and How Does It Work?

    www.cnbc.com › select › certificate-of-deposit

    Oct 20, 2020 · Like traditional and high-yield savings accounts, certificates of deposit — commonly referred to as CDs — are another type of account that banks and credit unions offer to customers who want to set...

    • Elizabeth Gravier
  6. What is a CD (Certificate of Deposit) Account and How Do they ...

    bettermoneyhabits.bankofamerica.com › en › personal

    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. Like savings accounts, CDs are considered low risk because they are FDIC-insured up to $250,000.

  7. Sep 09, 2020 · Certificates of deposit (CDs) are financial instruments that operate similarly to savings accounts. Found at banks and credit unions, they pay a fixed rate of interest on the money you invest in...

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