Example of a Bump-Up CD For example, assume a bank issues a CD with a 24-month maturity date and one bump-up option. The current interest rate on the CD is 2%. Market rates increase to 2.9% in six ...

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 do you open a certificate of deposit? To open a CD, you’ll need to share your personal information -- name, birthday, address and Social Security number -- and transfer the money to fund the ...

A certificate of deposit typically offers a higher rate of return than a traditional savings account. Find out which type of CD might be right for you.

A certificate of deposit (CD) is a low-risk deposit account that earns a fixed rate of return. In exchange for this guaranteed yield, you agree to lock up your money until the CD’s term expires ...

A CD, or certificate of deposit, is a safe way to save. Forbes Advisor explains in depth how CDs work and how they fit into your plan.

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 certificate of deposit, also known as a CD, is an account that pays interest on your money for a set period of time.

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 ...

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

For the kitchen-table investor with a little money to spare, now might be an ideal time to consider investing in a certificate of deposit. CD rates are as high as they’ve been in years. The best ...

PHILADELPHIA, March 25, 2025 /PRNewswire/ -- Hyperion Bank – which has banking offices in Atlanta and in Philadelphia – has launched a limited-time certificate of deposit (CD) promotion, as it ...