A CD account (Certificate of Deposit) is a savings account where you deposit money for a fixed period at a fixed interest rate. In return for higher interest than a regular savings account, you agree not to withdraw the money until the term ends, or you may face a penalty.
A Certificate of Deposit (CD) Account is a savings account that earns a fixed interest rate during a definite period to keep money locked away in exchange to receiving higher-type returns than a basic savings account.
A CD account, or Certificate of Deposit, is a savings product where you deposit money for a fixed term at a guaranteed interest rate. In return for higher interest than regular savings, funds remain locked until maturity, with penalties applied for early withdrawals in most cases.
