English Explanatory Dictionary

certificate of deposit

English dictionary entry

Meanings

noun
  1. A time deposit offered by a bank or credit union, wherein the depositor commits a fixed sum of principal for a predetermined maturity period, in exchange for a guaranteed interest rate higher than that of a standard savings account.
  2. The certificate issued to the holder of such an account, verifying its ownership.

Word forms

certificate of deposit certificates of deposit

Synonyms

CD
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