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A Certificate of Deposit is a special type of deposit account that can be opened by any customer. The customer will deposit a large sum of money with the bank for a predetermined period of time (Usually in months or years). The bank will offer a good interest rate to the customer for parking his/her money long-term with them. The customer wouldn't break his deposit mid term and keep it until maturity because if he does so, he will be charged a penalty for doing so.
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What are banking terms?
Here is a link to a glossary of banking terms. Click the link in 'Related Links'.
What do you mean by clearance in banking terms?
what do you mean by clearance in banking
What is CD interest in banking?
CD interest in banking is rate-based income that one makes from keeping money in a CD (certificate of deposit. CD's typically have higher interest rates than regular savings accounts to substitute for the money being less liquid.
What banking solutions are there for small businesses?
There are several different banking solutions that vary with the business industry. Some include but are not limited to online banking, banking CD's, and payroll manager.
What does non derogatory mean in terms of banking?
non derogatory in banking means that an account is ok
What are banking terms?
Here is a link to a glossary of banking terms. Click the link in 'Related Links'.
What do you mean by clearance in banking terms?
what do you mean by clearance in banking
What is CD interest in banking?
CD interest in banking is rate-based income that one makes from keeping money in a CD (certificate of deposit. CD's typically have higher interest rates than regular savings accounts to substitute for the money being less liquid.
What banking solutions are there for small businesses?
There are several different banking solutions that vary with the business industry. Some include but are not limited to online banking, banking CD's, and payroll manager.
What does non derogatory mean in terms of banking?
non derogatory in banking means that an account is ok
In banking terms what is a fsr?
Feasibility Study Report
What does TI'S mean in banking terms?
Trade Invoice
What is the opposite of withdrawal in banking terms?
In banking terms, withdrawal means the removal of money from a bank account. So the opposite is deposit, the adding of money to a bank account
what is the best CD rate in my town for 10,000/?
Find the latest CD rates here http://www.business.com/directory/financial_services/banking/certificates_of_deposits/cd_rates/
Can a CD be used for a down payment on a mortgage?
This will depend on the terms of withdrawal from the CD. Be prepared to provide those terms to the Underwriter. Normally it is allowable
What terms relates to money and banking?
monetary policymonetary policyA+
What does tr mean in banking terms?
Emily is I'm not shore
