A certificate of deposit (CD) is a financial product offered by banks and credit unions that allows individuals to deposit money for a fixed term in exchange for a higher interest rate compared to regular savings accounts. CDs are considered low-risk investments and typically require the funds to remain untouched until maturity, making them an appealing option for those looking to earn interest without the volatility of stocks or bonds.
congrats on reading the definition of certificate of deposit (CD). now let's actually learn it.