Certificates of deposit, or CD’s, require you to keep your money deposited for a set period of time which is known as the CD’s term. CD term lengths can rage from 3 months to 5 years. At the completion of the full term, you are paid back the amount you deposited plus interest. Some reasons to consider investing in a CD are: higher interest rates, guaranteed rate of return, and insured up to $250,000.
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