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Certificate of deposit

noun

Definitions

Noun
  1. 1
    A time deposit offered by a bank or credit union, wherein the depositor commits a fixed sum of principal for a predetermined maturity period, in exchange for a guaranteed interest rate higher than that of a standard savings account.
  2. 2
    a debt instrument issued by a bank; usually pays interest wordnet
  3. 3
    The certificate issued to the holder of such an account, verifying its ownership.

See also for "certificate of deposit"

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