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description of a certificate of deposit pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

What is a certificate of deposit (CD)?

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. CDs are best used for money you won’t need before the term is up. Accessing the money prior to that results in an early withdrawal penalty.

How does a certificate of Deposit Work?

A CD is a way to put away money beyond what you’ve accumulated in your savings account, without taking on much more market risk. Think of it like buying a baseball card for your favorite player, knowing its value will go up when he retires in a year or two.

What is a fixed rate Certificate of deposit?

A fixed rate certificate of deposit is a CD that has a set or fixed interest rate that is paid over the entire term of the instrument. The total fixed interest earned along with the CD principal is paid to the investor once the certificate of deposit reaches maturity.

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