Certificate of Deposit (CD)

Definition of "Certificate of Deposit (CD)"
  1. A bank document granted for a monetary deposit that earns fixed interest, typically higher than savings accounts, as it's meant to be left unwithdrawn for a specified duration and early withdrawal may incur a penalty
How to use "Certificate of Deposit (CD)" in a sentence
  1. Hoping to earn better interest, she decided to put her savings into a Certificate of Deposit.
  2. The bank suggested investing in a Certificate of Deposit for higher returns.
  3. Early withdrawal from a Certificate of Deposit resulted in a hefty financial penalty.

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