CERTIFICATEOFDEPOSIT

Certificate of deposit

A certificate of deposit is a time deposit, a financial product commonly sold in the United States by banks, thrift institutions, and credit unions.

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certificate of deposit

Noun

  1. A type of bank account representing a time deposit, which is insured, with a specific, fixed term, and, usually, a fixed interest rate.
  2. The certificate issued to the holder of such an account, verifying that he owns it.


The above text is a snippet from Wiktionary: certificate of deposit
and as such is available under the Creative Commons Attribution/Share-Alike License.

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