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Would a certificate of deposit be considered a savings alternative?
Wiki User
∙ 12y ago
Yes it would; however, it's not the best savings alternative being interest rates are so low. A good family money management practice is to view all of your options. You can purchase savings bonds at treasurydirect. You can look into on-line savings accounts which offer higher interest rates than local banks.
Wiki User
∙ 12y ago
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What is meant in by term deposits in banking?
The meaning of a Term Deposit in banking is referring to a savings account or a certificate of deposit. This particular savings account or certificate of deposit pays at a fixed rate of interest until given a maturity date.
What are the benefits of a certificate of deposit?
One of the benefits of a certificate of deposit is that you get a high interest rate then if you had a savings account. They are also FDIC insured so if the bank goes under your money is safe.
Which is a type of savings account that is designed to accrue interest for a specific period of time?
certificate of deposit
What is a certificate of deposit interest rate?
A certificate of deposit interest rate or CD is a time deposit, a financial product commonly sold in the United States by banks, thrift institutions and credit unions. CDs are similar to savings accounts.
You found a postal savings system certificate of deposit e serial?
Postal Savings System certificates of deposit were devalued by public law 98-359, of July 1984. Its only value is to collectors.
What is a CD at a bank?
A CD is a certificate of deposit which is a time deposit savings with fixed terms.
What is meant in by term deposits in banking?
The meaning of a Term Deposit in banking is referring to a savings account or a certificate of deposit. This particular savings account or certificate of deposit pays at a fixed rate of interest until given a maturity date.
What is the name of the special savings account that requires the bank and the customer to agree on the savings amount and the time that it will be on deposit?
I believe you are thinking of a certificate of deposit.
A certificate of deposit is best for?
A certificate of deposit is best for savings as they have a fixed interest rate. The drawback is that you should not cash it in until it reaches maturity.
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 are the benefits of a certificate of deposit?
One of the benefits of a certificate of deposit is that you get a high interest rate then if you had a savings account. They are also FDIC insured so if the bank goes under your money is safe.
Which of these is a type of savings account that is designed to accrue interest for a specific period of time?
certificate of deposit
Which is a type of savings account that is designed to accrue interest for a specific period of time?
certificate of deposit
What is a certificate of deposit interest rate?
A certificate of deposit interest rate or CD is a time deposit, a financial product commonly sold in the United States by banks, thrift institutions and credit unions. CDs are similar to savings accounts.
What is a certificate of deposit?
When you put money in a savings account, you can draw it out at any time. In a certificate of deposit, you agree to leave it in the bank for a certain period of time. They pay slightly higher interest because they know that money will be there for 3 months, 6 months, 1 year, etc. If you draw it out early, they reduce your interest.
You found a postal savings system certificate of deposit e serial?
Postal Savings System certificates of deposit were devalued by public law 98-359, of July 1984. Its only value is to collectors.
Do Certificates of Deposit avoid probate?
A certificate of deposit is a type of savings certificate that entitles the owner to collect the balance including interest after its maturity date. A certificate of deposit in and of itself does not avoid probate. However, depending on how the certificate is titled, probate may be avoided by adding a beneficiary to the account. The owner of the certificate can name a "payable on death" beneficiary to the account at the time the certificate is issued.
