Also known as a fixed deposit, this type of investment of a fixed sum for a specified period and typically yields the highest interest compared to a deposit account.
Tiered No
A Certificate of Deposit is a secure investment that guarantees to preserve your principal and your investment earns interest at a fixed rate.
Features and Benefits:
Security and safety - both your original investment and interest payments are guaranteed
Competitive interest rates - guaranteed for the full term of the investment
Flexible investment terms - ranging from 90 days to 13 months
Automated renewals along with annual statements and maturity notices so that you can keep track of your investments
Can be used as security for acquiring credit facilities
Option to roll over principal only or principal plus interest earned
Additional Information:
Interest is forfeited if deposit is broken before contracted maturity date