Certificate of Deposit

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Certificate of Deposit

A written recognition by a bank of a deposit, coupled with a pledge to pay the deposited amount plus interest, if any, to the depositor or to his or her order, or to another individual or to his or her order.

A form of Commercial Paper that serves as documentary evidence that a savings account exists.

certificate of deposit (CD)

n. a document issued by a bank in return for a deposit of money which pays a fixed interest rate for a specified period (from a month to several years). Interest rates on CD's are usually higher than savings accounts because banking institutions require a commitment to leave money in the CD for a fixed period of time. Often there is a financial penalty (fee) for cashing in a CD before the pledged time runs out.

See: receipt
References in periodicals archive ?
The Repo Rate applicable to borrowing short-term liquidity from CBUAE against Certificates of Deposits has also been increased by 25 basis points to 1.
Certificates of deposit are considered a mean of double-entry of the shares of companies with more than one stock exchange.
Certificates of Deposit are fully Shari'a compliant and profits incurred will be distributed to customers every quarter.
Broadly defined liquidity includes postal savings, deposits at farm and fishery cooperatives, loan and money trusts, investment trusts, bank debentures, Japanese and foreign government bonds, and M2 plus certificates of deposit.
The debtor had secured its obligation to its lender by pledging certificates of deposit issued by various banks.
The balance of M2 plus certificates of deposit held principally by corporations, individuals and local governments is considered to be the key money supply gauge, showing the closest correlation to changes in economic activity.
The Singapore-based bank said that it might issue certificates of deposit from time to time under the programme.
Broadly defined liquidity includes postal savings, deposits at farm and fishery cooperatives, loan and money trusts, bank debentures, and Japanese and foreign government bonds, as well as M2 plus certificates of deposit.
The extremely risk-averse can consider government-backed investments such as savings bonds, treasuries and municipal bonds, or certificates of deposit, money market deposit accounts, credit union accounts and fixed annuities.
The comments, which took the form of a letter from TEI President Bob Perlman to Minister of Finance Donald Mazankowski and Minister, Revenue Canada Otto Jelinek, urged the Canadian government to adopt a mechanism similar to that in place in the United Kingdom and issue Tax Certificates of Deposit analogous to those issued by Inland Revenue.
You can also get market-trend information and the latest quotes on stocks, bonds, mutual funds and, in some instances, bank moneymarket accounts and certificates of deposit.

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