certificate of deposit
Timed savings account
A certificate of deposit is a savings instrument offered by banks in which you deposit money for a fixed term—typically three months to five years—at a guaranteed interest rate.
Early withdrawal usually incurs a penalty.
Often abbreviated CD: She put her inheritance in a five-year CD.
Deposits protected by government
- account holderOne with bank access
- financial institutionCompany managing money services
- credit unionMember-owned financial cooperative
- savings accountInterest-bearing bank holding
money market · bank teller · branch · opening balance · statement · online banking
Collected works or assets
- diversificationExpanding into varied areas
- ladderingStaggered sequential progression
- yieldProduce or relinquish
- returnGo back again
principal · risk-free · low-risk · fixed income · bonds · money market fund · retirement savings · 401k
When debt must repay
- durationLength of existence
- five-yearSpanning sixty months
- short-termOf limited duration
- long-termLasting extended period
renewal · rollover · expiration · grace period · fixed term · step-up · callable
Annualized compounded interest rate
- fixed rateUnchanging interest percentage
- variable rateAmount that fluctuates
- compound interestReturns on reinvested earnings
- compoundingElements merging progressively
accrual · earnings · high-yield · promotional rate · interest payment · rate lock
Deposits protected by government
- guaranteedPromised with certainty
- low-riskMinimal potential for harm
- coverage limitMaximum insurer pays out
FDIC insured
Deposits protected by government
- account holderOne with bank access
- financial institutionCompany managing money services
- credit unionMember-owned financial cooperative
savings account · money market · bank teller · branch · opening balance · statement · online banking
portfolio
Collected works or assets
- diversificationExpanding into varied areas
- ladderingStaggered sequential progression
- yieldProduce or relinquish
return · principal · risk-free · low-risk · fixed income · bonds · money market fund · retirement savings · 401k · wealth building
maturity date
When debt must repay
- durationLength of existence
- five-yearSpanning sixty months
- short-termOf limited duration
long-term · renewal · rollover · expiration · grace period · fixed term · step-up · callable
APY
Annualized compounded interest rate
- fixed rateUnchanging interest percentage
- variable rateAmount that fluctuates
- compound interestReturns on reinvested earnings
compounding · accrual · earnings · high-yield · promotional rate · interest payment · rate lock
FDIC insured
Deposits protected by government
- guaranteedPromised with certainty
- low-riskMinimal potential for harm
- coverage limitMaximum insurer pays out
early withdrawal
Removing funds before term ends
breakable · redemption · cash out · forfeiture · emergency access
- assetsproperty, cash, money, investments, bank accounts
- bankingbank, banks, ATM, ATMs, account
- certificates
- savingssavings account, piggy bank, online savings, savings bonds, savings plan
- accountsbank account, checking account, savings account, joint account, personal account
- depositsCD, FDIC insurance
certificate of depositchecking account
Bank deposit for transactions
savings account · money market account · cash · petty cash · liquid assets
certificate of depositjunk bonds
Low-rated corporate securities
penny stocks · cryptocurrency · derivatives · stocks · equities
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