Certificate of Deposit (CD)
- 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
- Hoping to earn better interest, she decided to put her savings into a Certificate of Deposit.
- The bank suggested investing in a Certificate of Deposit for higher returns.
- Early withdrawal from a Certificate of Deposit resulted in a hefty financial penalty.