2-year CD

Over 2200 Glossary Terms

2-year CD

A 2-year CD (certificate of deposit) is a savings instrument that pays a fixed rate of interest and remains in effect for a period of 24 months. Funds cannot be withdrawn earlier than the 24-month expiration date without penalty. Bank-issued CDs are insured by the FDIC for amounts up to $100,000 per depositor.

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