UNLOCKING FINANCIAL STABILITY: THE ABCS OF CERTIFICATE OF DEPOSIT (CD)
Certificate of Deposit (CD) is a low-risk investment option that offers a fixed interest rate for a specific period of time.
CDs are issued by banks and credit unions and are insured by the FDIC or NCUA up to a certain amount.
CDs have a maturity period ranging from a few months to several years.
CDs offer higher interest rates than regular savings accounts, making them a good option for those looking to earn higher returns.
CDs have penalties for early withdrawal, so it is important to choose a maturity period that suits your financial goals.
CDs can be used as collateral for loans and can also be rolled over into a new CD at maturity.
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CDs are a great way to diversify your investment portfolio and achieve financial stability.
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