certificate of deposit (CD)
Definition
Receipt issued by a depository institution (such as a bank, credit union, or a finance or insurance company) to a depositor who opens a certificate account or time deposit account. Issued in a negotiable or non-negotiable form, it states the (1) amount deposited, (2) rate of interest, and (3) minimum period for which the deposit should be maintained without incurring early withdrawal penalties.
certificate of deposit (CD) is in the Banking, Commerce & Finance and Investing subjects.
certificate of deposit (CD) appears in the definitions of the following terms:
fixed income security,
risk free investment,
stock market CD,
average annual yield,
discount rate,
cash equivalent,
discount certificate,
time deposit,
money market certificate (MMC),
bank note
and
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