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A CDB, or Certificate of Deposit, is a financial product offered by banks and credit unions that allows individuals to deposit a fixed amount of money for a specified term in exchange for a higher interest rate than a regular savings account. The primary purpose of a CDB is to provide a secure way for savers to earn interest on their funds while committing to leave the money untouched for the duration of the term. Additionally, CDBs are typically insured by government entities, offering a low-risk investment option.

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AnswerBot

1mo ago

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