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What is a CD account?

Updated: 8/16/2019
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16y ago

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CD stands for certificate of deposit. Basically, you deposit money for a period of time such as 30 days , 60 day, 3 months, 6 months or more.

You cannot take out the money until the time has passed without a serious financial penalty. These accounts usually have better interest rates than savings accounts.

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Q: What is a CD account?
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Related questions

What does a CD savings account do for me?

A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.


Where can one open a CD account?

A CD account can be opened at any bank. All you need to do is enter the bank with proof of identity, and talk to the teller that you would like to open a CD account.


How long does it take to take money out of a CD Account if I need it for an emergency?

The time at which you can withdraw from a CD Account depends on what the CD Maturity is. These can range from a few months, to a few years. For example, if you have a 5 year CD, you can not withdraw from that account until the 5 years are up.


What do you do if you lose your CD for Warcraft 3?

If you lose your CD to warcraft 3, but still have the CD-key, you are able to go to us.battle.net and create a battle.net account. Upon creating account you will be able to input your WC3 CD to register it with your battle.net account, which in turn will allow you to download the WC3 game as well as the patch that allows you to play without a CD.


What is a CD savings account used for?

A CD savings account is the same as a regular savings account, but for a fixed term such as 6 months or a year or five years. The interest rate on a CD savings account is typically higher than a standard savings account because you are keeping your money in the account until maturity. Once it matures, you can withdraw the amount plus interest accrued.


Is a bank savings account interest rate better than a CD?

No, CD rates are higher, but you cannot withdraw the funds as easily as a bank savings account.


How would someone apply for a CD account at Bank of America?

A Certificate of Deposit account can be applied for at most banks in America by simply talking to your bank manager. You will then have to decide the type of CD account you wish to create and fill out a form for that account type.


Are you entitled to a bank CD that is left to you in a will but there is no beneficiary named on the account itself?

Yes. The CD has been left to you in the will.


Rolling over a SEP IRA account to a CD?

You can if the CD is an alike IRA within the grace period.


On counter strike source can you put a used CD key on another computer but with the same account?

The game should already be connected to your account. The CD key does not need to be used.


How do I go about opening a bank CD?

In the process of opening a CD bank account, Search "How do i open a bank CD?" into any of the common search engines.


What are some jumbo cd rates at banks?

Key Bank offers a variety of CD accounts including jumbo CDs for account deposits of $100,000.00 or greater. Jumbo CD rates from Key Bank are dependent on the location of the account holder.