BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -What Is a Certificate of Deposit (CD)? A certificate of deposit (CD) is a savings product that earns interest on a lump sum for a fixed period of time. CDs differ from savings accounts because the money must remain untouched for the entirety of their term or risk penalty fees or lost interest.

Detailed explanation-2: -In certificate of deposit. Time certificates of deposit bear interest and are payable on or after a specific date. Interest on time deposits is higher than for regular savings accounts. Because of this, a depositor who withdraws money deposited on a time basis before the maturity date of the…

Detailed explanation-3: -CDs generally pay a fixed rate of interest and can offer a higher interest rate than other types of deposit accounts, depending on the market. These accounts typically provide security for longer-term savings and no monthly fees, but at the cost of access and liquidity of the funds.

Detailed explanation-4: -Definition: A certificate of deposit (CD) is a short-term security with a fixed interest rate and maturity date issued by a bank that seeks to raise funds from the secondary money market.