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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 CDs typically differ from savings accounts because the CD has a specific, fixed term before money can be withdrawn without penalty and generally higher interest rates. CDs typically require a minimum deposit, and may offer ...
A variable-rate CD — also called a flex CD — is a type of certificate of deposit with an interest rate that can fluctuate periodically over the term of the CD based on market conditions.
A time deposit or term deposit (also known as a certificate of deposit in the United States, and as a guaranteed investment certificate in Canada) is a deposit in a financial institution with a specific maturity date or a period to maturity, commonly referred to as its "term".
The Certificate of Deposit Account Registry Service (CDARS), was a US for-profit service that broke up large deposits (from individuals, companies, nonprofits, public funds, etc.) and placed them across a network of more than 3000 banks and savings associations around the United States.
With so many options, you can find a CD with an opening deposit requirement that suits your budget and goals. In general, expect to have at least $1,000 on hand to open a CD with a competitive ...
Other deposit accounts may pay higher rates: Depending on the rate your CD is earning, you may find your money can earn a better rate when placed in a liquid savings account instead. Another ...
Some certificates can be very liquid allowing for frequent deposits and/or withdrawals without penalty. Other certificates may more closely match the typical rules of a certificate of deposit, allowing the investor to select a term length (typically between 3 months to 3 years) and earn a guaranteed interest rate. These certificates are ...
A jumbo CD is a certificate of deposit that requires a minimum of $100,000 to open the account. Like regular CDs, jumbo CDs come with a fixed interest rate and term.