The definition of certificate of deposit is a type of savings certificate that allows the individual that purchases the certificate to receive interest on their investment.
When it comes to a safe investment the definition of certificate of deposit is considered to be extremely safe as those wanting to purchase CD’s can investment a small or large amount of money and if held until the date of maturity the buyer will receive the full investment along with interest even if the financial institute has collapsed. A bank that is federally insured is backed by the Federal Deposit Insurance Corporation for all certificate of deposits purchased through the bank while CD’s that are purchased at Credit Unions are usually backed by the National Credit Union Administration.
The definition of certificate of deposit held in individual retirement accounts is basically the same however; the safety net is a bit different. Joint accounts can also be insured for higher amounts, which is twice the amount while married couples with individual accounts as well as joint accounts can be insured up to $1,000,000 deposits.


The way investors receive more insurance on their deposits is by purchasing certificate of deposits from different financial institutes. The definition of certificate of deposit does not change whether the CD is with joint accounts, individual accounts, investor accounts, through banks, or Credits Unions. Certificate of Deposit Definition: (CD) is an insured interest account earning saviongs tool that allows restricted access to the funds. A certificate of deposit is also referred to as a CD and provides the buyer with the option to purchase for different amounts of money, length of term from one month to five years, and variable or fixed interest rate.
In 2011, the Federal Deposit Insurance Corporation changed their regulations and now will insure up to $250,000 for each account.


Certificate of deposits can be purchased usually through any financial institute that is insured by the FDIC.



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