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Macho Money Definitions - What Is A CD?

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Image for Macho Money Definitions - What Is A CD? – Scott Halliwell from USAA

If you hear someone use the letters “CD,” they are abbreviating the term “certificate of deposit.”  And according to Investopedia, a CD is A savings certificate entitling the bearer to receive interest.  

A CD bears a maturity date, a specified fixed interest rate and can be issued in any denomination.

CDs are generally issued by commercial banks and are insured by the FDIC.  The term of a CD generally ranges from one month to five years.

It can get a bit confusing, but for a more clear explanation with examples, click on the video and listen to Scott Halliwell from USAA.

Watch The Video

In this Macho Money video, Scott Halliwell from USAA discusses the Certificate of Deposit (CD).

Topics: certificate of deposit cd bond investment stock macho money USAA scott halliwell jj montanaro saving money finance