For kids of the 1990s, CD means compact disc, specifically that one Spin Doctors album you totally bought the day it came out. But in banking terms, CD means certificate of deposit. What is a certificate of deposit? The definition ofcertificate of deposit is an accountthat allows you to s...
n. a document issued by a bank in return for a deposit of money which pays a fixed interest rate for a specified period (from a month to several years). Interest rates on CD's are usually higher than savings accounts because banking institutions require a commitment to leave money in the...
"EverBank is known for its high-yield savings, CDs, and money market accounts that have a fairly low-cost entry point. The Florida-based bank has a CD with excellent APYs, but it is limited in terms of personal banking products beyond these interest-bearing accounts. Also, EverBank is un...
Best for banking convenience: Capital One 360 CD Rates as of Aug. 16, 2024 APY = Annual Percentage Yield Capital One 360 CD Bottom Line Backed by Capital One's well-known brand, the Capital One 360 CDs offer competitive rates across many common terms, though t...
Define CD Accounts. means the accounts maintained with the Administrative Agent that hold certificates of deposit or time deposits pledged to secure the Obligations, and any renewals or rollovers of such accounts.
MORE LIKE THISCertificates of DepositBanking NerdWallet rating Learn More at Discover® Bank, Member FDIC Discover® CD rates are competitive with other online banks and the range of terms is extensive from three months to 10 years. But the minimum CD deposit of $2,500 may be hefty for ...
A CD reaches maturity when it hits the maturity date, meaning the date that the agreed-upon term ends. Mini-CD ladder: A mini-CD ladder is a CD ladder with shorter terms for each CD. Term: The length of a CD is called the term and you can open CDs with various terms, anywhere ...
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In general, promotional rates tend to be for irregular CD terms and featured on banking websites as a “promotional rate” or “CD special.” (For more details, see how promotional CD rates work.) Name (click to see our review) CD rate (or certificate rate) Bank of America: 7-month ...
Practically speaking, it is almost impossible to lose money on a CD for two reasons. First, they are guaranteed by the bank or credit union that offers them, meaning that they are legally required to pay you exactly the amount of interest and principal agreed upon. Second, they are generall...