What Is a Certificate Of Deposit?
A CD is a safe and predictable way to save money. The money you deposit into a CD is FDIC-insured, meaning it’s protected by the U.S. government up to the maximum amount allowed by law. CDs are offered in terms – ours range from one month to ten years – and require that you leave your money in the account until the term ends, also known as the maturity date. Essentially, your money is committed to the CD for a certain amount of time, but it’s also guaranteed to grow at a fixed rate for the length of the term.