Definition of certificate of deposit in English:
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:
- US English dictionary
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