articles certificate-of-deposit-cd 
Accounting Tools
FEBRUARY 1, 2024
What is a Certificate of Deposit? A certificate of deposit is a term bank deposit with a fixed duration and stated interest rate. A CD is essentially a promissory note issued by a bank. A more restrictive CD may require an early-withdrawal penalty.
Accounting Tools
SEPTEMBER 4, 2023
It is designed to have an unlimited number of deposits and withdrawals (though each one may be subject to fees), and does not allow for interest to be paid on any residual balance in it. The bank account also shows the current balance of cash in the record as of any point in time.
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