Posted On: December 15, 2020 by First Option Bank in: Banking Financial Wellness Tips & Tricks
Certificates of Deposit, or CDs, are a type of financial account designed to hold your money for a fixed amount of time with low associated risk – and you earn guaranteed interest in return! Learn more about what is involved in opening a CD to decide if this saving tool is right for you.
This lesson will cover:
- CD options offered by financial institutions
- How to calculate your interest earnings
- The pros and cons of CDs, compared to other accounts
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