certificate of deposit
noun [ C ]
ukusplural certificates of deposit ( abbreviation CD); (also deposit certificate) BANKING, FINANCE
a type of investment in which customers earn interest for saving their money for a fixed period of time, or the document which shows this investment:
3-month/5-year, etc. certificate of deposit
variable-rate/floating-rate certificate of deposit Interest on variable-rate certificates of deposit will be periodically adjusted in accordance with current market rates.
See also
Eurodollar certificate of deposit
yankee dollar certificate of deposit