Explore the fixed-rate certificate of deposit – its purpose, workings, benefits, drawbacks, and strategies to optimize your investment returns.

A certificate of deposit, or CD, is a savings product that offers a fixed interest rate in exchange for keeping your money in the account for a specified period, or term. If you need to access ...

Certificates of deposit (CDs) let you lock in a fixed interest rate for a set period of time that typically spans from a few months to five years or longer. However, the CD rates banks and credit ...

Certificate of Deposit Definition A certificate of deposit (CD) is a savings account that holds a fixed amount of money for a fixed period of time, such as six months, one year, or five years, or ...

A CD is an interest-bearing deposit account that works much like a savings account. However, you cannot withdraw money from that account for a fixed amount of time.

When the loan matures, he will get back his initial investment of $10,000 as well as interest. The return on the CD for the period of five years is $2,763. David’s maturity proceeds total to $12,763.

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.

Concord, New Hampshire-based Walden Mutual Bank is finding out. The financial institution is offering a 100-year Local Impact Certificate of Deposit paying a fixed 4.75% annual interest rate.

A certificate of deposit or share certificate is a low-risk option to grow your money with a fixed interest rate. Here's what you need to know about these savings tools.

A certificate of deposit is a type of savings account that typically offers a fixed interest rate and a higher rate of return than a traditional savings account. Your access to the funds will be ...