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WordNet-Online
Definitions from WordNet
Noun certificate of deposit has 1 sense
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Definitions from the WebCertificate of DepositDescription:A Certificate of Deposit (CD) is a financial product offered by banks and credit unions that provides a fixed term, fixed interest rate investment. It is a type of time deposit where the customer agrees to keep the funds deposited for a specific period of time, ranging from a few months to several years. Sample Sentences:1. I decided to invest my savings in a certificate of deposit for three years to earn a higher interest rate. 2. The bank offers competitive rates on its certificate of deposit, making it an attractive investment option for long-term savings. 3. She couldn't access the funds in her certificate of deposit until the maturity date, as per the terms of the agreement. 4. As a low-risk investment, many individuals include certificates of deposit in their retirement portfolios. 5. The interest earned on a certificate of deposit is typically higher than a regular savings account due to the fixed term commitment. Possible Related Products:Find related products on Amazon: | ||||
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