YOUR FINANCIAL QUESTIONS ANSWERED
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“What is a Certificate of Deposit?”
A certificate of deposit, or CD, is a savings account with a relatively high interest rate for a specific period of time. Account holders can’t access CD funds for the agreed time period but are promised accumulated interest in return.
A CD’s time frame can vary from a few months to ten years or more. The longer the time frame and the greater the original investment, the higher the interest return.