: You agree to leave your funds untouched for a specific duration, typically ranging from 3 months to 5 years .
: Requires a large minimum deposit—typically $100,000 —in exchange for a higher interest rate. bank cd
A bank is a low-risk savings account that holds a fixed amount of money for a fixed period of time, in exchange for a guaranteed interest rate. Core Features : You agree to leave your funds untouched
: CDs at banks are insured by the FDIC , and those at credit unions by the NCUA , for up to $250,000 per depositor. for up to $250
: Gives you the option to "bump up" your interest rate once or twice if the bank’s rates for new CDs rise during your term.