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What is the difference between liquid Certificate of Deposit and regular Certificate of Deposit?
Wiki User
∙ 16y ago
Liquid CDs offer consumers the opportunity to withdraw money from the CD without incurring a penalty. The interest rate should be higher than the bank's money market rate, but would usually be lower than a traditional CD of the same term and minimum. Just as with any CD, the terms and conditions are set by the individual banks and can vary widely.
Wiki User
∙ 16y ago
Wiki User
∙ 12y agoIn a regular savings account, the funds are always available for withdrawl. As a result, savings accounts generally have a low rate of interest.
A certificate of deposit is an investment for a specific amount of time. The funds are not available until the certificate has matured, therefore, it has a slightly higher rate of interest than a savings account.
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What is the difference between a savings account and a certificate of deposit?
In a regular savings account, the funds are always available for withdrawl. As a result, savings accounts generally have a low rate of interest. A certificate of deposit is an investment for a specific amount of time. The funds are not available until the certificate has matured, therefore, it has a slightly higher rate of interest than a savings account.
What is a IRA Certificate?
What is IRA certificate of Deposit? In such certificate of deposit, investor can own Roth IRAs or traditional IRAs together with CD inside their accounts. The terms and conditions of such certificate of deposit are same as a regular certificate of deposit. The only difference is that the fund is contained within IRA account. There are brokerage firms who help retiree to fix the terms of their IRA account, so that they can direct the investment funds to various risk and risk free domains to attain the best possible benefit. One can own certificate of deposit within the self-directed IRA account. Enhanced advantages of tax are involved within the certificate of deposit owned within the IRA account.
Do I need a certificate of deposit to deposit money into my account?
You do not need a certificate of deposit (also known as a CD) to deposit money into an account - unless you are attempting to deposit money into a CD account. Most banks only require you to have a regular savings account opened to be able to deposit money into a checking account for free. However, these terms vary by bank depending on which one you are using. Generally speaking, however, you should not have to open a CD to deposit funds into a regular checking account.
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A certificate of deposit is a time-deposit, meaning that its like a savings account that you get at the end of the period. An IRA CD is a certificate of deposit, but you can't liquidate it until you reach retirement age (else you pay penalties, as you would on a regular IRA).
What is a cerficate of deposit?
According to http://en.wikipedia.org/wiki/Certificate_of_deposit a certificate of deposit is money deposited for an agreed upon amount of time that generally pays better interest rates than a regular savings account.
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