A Certificate of Deposit (CD) is a savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination.
When you open a CD, your money is on deposit for a specific time period. For agreeing to keep it on deposit for a specified time period, you earn more than you would in a regular savings account. If you cash it in before its maturity date, you pay a penalty.
Check out our current Deposit Rates for our competitive certificate (CD) rates of return.
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