Bank Accounts

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January 1, 1 7 min read Definitions

Certificate of Deposit Bank Accounts Savings Interest Rates Long-Term Savings Financial Products Fixed Term Investments Banking

A Certificate of Deposit (CD) is a financial product commonly offered by banks and credit unions that provides an interest rate premium in exchange for the customer's commitment to leave a lump-sum deposit untouched for a predetermined period.

January 1, 1 6 min read Definitions

Deposit Account

Deposit Account Bank Accounts Saving Accounts Checking Accounts Interest Rates Financial Institutions Cash Management Savings

A deposit account is an arrangement whereby an individual or organization places cash with a financial institution for safekeeping. The institution can invest the cash and pay the depositor a specified interest while allowing the depositor to reclaim the full value of the account following agreed-upon procedures.