Certificates of Deposit
A negotiable certificate issued by a commercial bank as evidence of a deposit with that bank which states the maturity value, maturity rate and interest rate payable. CDs vary in size with maturities ranging from a few weeks to several years. CDs may normally be redeemed before maturity only by sale on the secondary market but may also be redeemed back to the issuing bank through payment of a penalty.
Certificates of Deposit
A negotiable certificate issued by a commercial bank as evidence of a deposit with that bank which states the maturity value, maturity rate and interest rate payable. CDs vary in size with maturities ranging from a few weeks to several years. CDs may normally be redeemed before maturity only by sale on the secondary market but may also be redeemed back to the issuing bank through payment of a penalty.
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A negotiable certificate issue ...... through payment of a penalty.
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Certificates of Deposit