A certificate issued by a bank to a person depositing money for a specified length of time at a specified rate of interest.
- Even a slightly higher interest rate on a certificate of deposit can boost your returns.
- Falling interest rates have pushed rates on many certificates of deposit and money market funds - traditional sources of income for retirees - to below 2%.
- But millions of people who rely on income from certificates of deposit and money market mutual funds would love an end to record-low rates.
Definition of certificate of deposit in:
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.