A marketable bank deposit receipt which has the advantage of allowing the holder to gain the higher rate of interest associated with fixed or long-term deposits. Certificates of deposit (CDs) were introduced in the USA in 1961 and grew in volume after...

A certificate of deposit or CD is a time deposit, a financial product commonly offered to consumers by banks, thrift institutions, and credit unions. Such CDs are similar to savings accounts in that they are insured and thus virtually risk-free; they...