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certificate of deposit

 

Definitions from WordNet

Noun certificate of deposit has 1 sense
  1. certificate of deposit, CD - a debt instrument issued by a bank; usually pays interest
    --1 is a kind of debt instrument, certificate of indebtedness
    --1 has particulars: time deposit

Definitions from the Web

Certificate of Deposit

Description:

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.

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