What does Certificate of Deposit (CD) mean?

This is a type of savings account that is offered by banks and other financial institutions. A CD requires the depositor to leave their money in the account for a specific period of time (often several months or years), in exchange for a higher interest rate than is typically offered on a regular savings account.

Related Terms

Special Deposit Account Live-Work Space Agreed Boundary Net Rentable Area Default Money Market Account Qualifying Ratios Estimated Total Savings Good faith Estimate Curable Defect Impact Fees Unsecured Loan Non-Recurring Closing Costs Rehabilitation Mortgage Blighted Area Legal Description Expense Stop Net Operating Income (NOI)