A certificate of deposit is a type of savings account that earns interest for a set time frame, known as a term. The term is the length of time you agree to leave your money deposited in the CD.

A certificate of deposit, or CD, is a type of bank account that requires the account owner to agree to keep their money in the account for a certain period. For this reason, CDs are also known as ...

Minimum balance requirements: Some of the best CDs require you to deposit $1,000, $2,500 or even more to open an account, whereas others don’t have a minimum balance requirement at all.

5 Steps to Open a Certificate of Deposit (CD) The following steps can help you find, open and fund a CD. Step 1: Consider Different Types of CDs ...

Initial deposit The “initial deposit” is the amount you agree to put into your CD at opening. CIT Bank, for instance, has a $1,000 minimum deposit for most of its CDs.

How a Certificate of Deposit (CD) Works A CD is a financial product that lets you deposit a lump sum for a specified period. During this time, you earn interest at a fixed rate, which equates to ...

7. Brokered CDs A brokered certificate of deposit is a CD account issued by banks or credit unions but sold through a brokerage firm or financial advisor, rather than from the bank itself.