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.

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 ...

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.

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 ...

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.

Certificates of deposit can be a great way to earn interest and keep your money safe and secure. There are benefits to both short- and long-term CDs, so make sure you weigh your situation before ...