online dictionaries of abbreviations

C E F I L N O P R T V W
CD

CD

Certificate of Deposit
A time deposit or familiar financial products, commonly offered to consumers by banks, thrift institutions, and credit unions. CDs are similar to savings accounts in being insured by a governmental deposit insurance scheme and thus virtually risk-free; they are "money in the bank." CDs are different from savings accounts in that the CD has a specific, fixed term—often three months, six months, or one to five years—and, usually, a fixed interest rate. It is intended that the CD be held until maturity, at which time the money may be withdrawn together with the accrued interest.

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