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A 3-month CD, or certificate of deposit, is a type of savings account where you deposit money for a fixed period of 3 months. During this time, the money earns interest at a fixed rate. At the end of the 3 months, you can withdraw the initial deposit plus the interest earned.

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4mo ago

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What is a puttable upon death of holder CD and how does it work?

A puttable upon death of holder CD is a type of certificate of deposit that allows the holder to redeem the CD for its full value upon their death. This means that if the holder passes away before the CD matures, their beneficiaries can cash out the CD without any penalties. This feature provides added flexibility and security for the holder and their loved ones.


Can you get a 6 on a CD?

No, you cannot get a 6 on a CD.


Can a CD be included in the name of a trust?

Yes, a Certificate of Deposit (CD) can be included in the name of a trust. This means the CD can be titled in the trust's name instead of an individual's name. To do this, the trustee must work with the bank to ensure the CD is properly registered under the trust. Here are some key points to consider: The trust document must allow the trust to hold financial assets like CDs. The bank may require a copy of the trust agreement or a Certification of Trust before retitling the CD. The trustee will manage the CD on behalf of the beneficiaries according to the trust's terms. If the CD is not yet matured, check for early withdrawal penalties before transferring it to the trust. This setup can help with estate planning, avoiding probate, and ensuring the CD is handled according to the trust's wishes.


Can you add additional tracks to a CD?

Yes, additional tracks can be added to a CD by burning them onto a blank CD using a computer or CD burner.


What does CD stand for in bank language?

A CD is a certificate of deposit. You leave the money in a CD for a certain length of time for a fixed return agreed upon when you open the CD. When the CD matures, you get the money back, or in some cases it is rolled over automatically into another CD.