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certificate of deposit |
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certificate of deposit (CD)Receipt from a bank acknowledging the deposit of a sum of money. The most common type, the time certificate of deposit, is for a fixed-term interest-bearing deposit in a large denomination. It consequently pays higher interest than a savings account, though the investor who withdraws money before its maturity date is subject to a penalty. Introduced in the early 1960s, CDs have become a popular method of saving. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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The bank offers consumer and business checking accounts, money market checking accounts, savings accounts, and certificates of deposit (CDs). Certificates of Deposit (CDs) are savings instruments that pay investors a slightly higher interest rate than a regular savings account. Kehrer said that when the yield curve is normal, safety-conscious investors can obtain interest rates 50 to 75 basis points higher in fixed annuities than in bank certificates of deposit, but when it is steep, the fixed annuities pay much higher rates. |
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