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  CertificateOfDeposit

Sigma KEE - CertificateOfDeposit
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CertificateOfDeposit
CDs (certificates of deposit) are bank, credit union or savings and loan instruments that allow the depositor to lock in an interest rate for a specific period of time (e.g. six months, one year, five years). If the money is withdrawn from the CD before the CD matures, there is likely to be an early-withdrawal penalty -- often three month's interest. Generally, the longer the time period of the CD, the higher the interest paid.
Relationships      
Parents SavingsAccount An account in a bank on which interest is usually paid and from which withdrawals can be made usually only by presentation of a passbook or by written authorization on a prescribed form.


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