What is a Certificate of Deposit?

image_db08c995627de0baf38e8ef95d2c7e3a

Once upon a time, when you set up your certificate of deposit (CD) account you received an actual sheaf of paper to stand for the money you’d invested. That’s where the actual name for this type of savings account comes from. These days, it’s highly unlikely that you’ll receive more than a reference number or confirmation e-mail to signify that you’ve established a CD account; but instead, the name stands for so much more. It represents what many consider to be an extremely safe, low-risk investment procedure.

The first thing you need to know about a certificate of deposit is that it requires you to have a sum of money stored away that you don’t intend to touch for awhile. How long? Well, that’s up to you and the financial institution you’re working with. Your CD term can be anywhere from six months to five years – or more. For example, the Discover Bank certificate of deposit intervals range from three months to ten years. Whatever that total is, it means you cannot – without surrendering a large penalty fee – touch your own money again until the period has concluded.

The longer that you put your money away, the more it’s going to earn. Using Discover Bank’s rates as of April 2011, a five-year rate of 2.35% means your $ 10,000 becomes $ 11,232. And you don’t have to do anything but wait – it’s that easy. The same amount invested at the same institution for ten years becomes $ 13,439. Of course, some variables and limitations do apply, so be sure to speak to someone you trust who can answer all of your questions and point out all of the smaller details when you’re setting up your CD.

These numbers are not guesswork. Before you sign the final dotted line to get your certificate of deposit started, your broker should be able to tell you exactly how much you’re going to withdraw when your money reaches maturation. In other words, given the amount and the length of investment, you’ll know exactly what you’re going to bet back – including interest. And this agreement is federally protected, so you don’t have to worry about the economy ruining your chances of getting back the total you’re owed.

The other thing that you should consider before you even get started is your renewal plan. You can agree to an automatic renewal when the term is up. This doesn’t mean that you won’t be reminded or notified, but it does mean that you don’t need to reply in order for the financial institution with which you’re doing business to keep your money for another fixed amount of years (you can, however, choose to opt out during a certain window of time). The benefit here is that you can usually keep the same rate that’s in place, no matter what rate the bank or financial institution is current offering to new, exactly identical accounts. If you originally secure a great rate, this can be very advantageous.

 

T.M. Murphy is a professional writer who lives in NYC. She specializes in fashion, beauty, marketing and finance articles. For easy-to-understand financial and banking advice to use on topics such as the Discover Bank certificate of deposit, she turns to http://www.discoverbank.com. T.M. Murphy has been writing full-time since 2006, when she graduated with a B.A. in English from Northeastern University.


Matching School Ads
  • Online degrees offered include BA in Accounting, BA in Business Administration, MBA, and more.
  • Business students may be eligible for scholarships such as the Entrepreneurship Scholarship.
  • Courses help students develop knowledge of marketing, accounting, economic principles, and financial management.
  • Business Administration students can specialize in areas such as Entrepreneurship, Finance, and Project Management.

Programs:

  • BA/Accounting
  • BA/Finance
  • BA/Sports and Recreation Management - Finance
  • And more...
  • Ranked among the Best Online Bachelor’s Programs by U.S. News and World Report in 2015.
  • Ranked among the Best Online MBA Programs by U.S. News and World Report in 2015.
  • Founded in 1890, it has a campus in Waterbury, CT and offers online degree program in eight-week modules, six times a year.
  • About 800 students are enrolled at the main campus, and about half of them commute.
  • Online courses make it possible for students to earn a bachelor’s degree in as little as 18 months and a master’s degree in 14-24 months.

Programs:

  • B.S. in Accounting
  • B.S. in Business Administration / Accounting
  • B.S. in Finance
  • And more...
  • Offers M.B.A. and bachelor’s programs in Business Administration with concentrations in Marketing, Accounting, and more
  • Ranked among the Best Online MBA Programs and Graduate Business Programs for 2017 by U.S. News and World Report
  • Coursework covers topics like project management, management fundamentals, and business strategies
  • Business students complete a capstone class that demonstrates their knowledge of business concepts

Programs:

  • Bachelor of Science in Accounting
  • Bachelor of Science in Business Administration - Finance
  • Purdue University Global
  • Experience world-class education online: Purdue Global offers 180 programs at associate's, bachelor's, master's and doctoral levels.

Programs:

  • BS in Accounting
  • BS in Accounting - Public Accountancy
  • BS in Accounting - Managerial Accountancy
  • And more...

There are a lot of reasons Bryant & Stratton College is the place to get an education. From the personal attention you receive from instructors that stay after class to make sure you are on the right track.

Programs:

  • BBA Accounting
  • BS/BBA Financial Services
  • AAS Accounting
  • And more...
Locations:  Virginia Beach

You’re serious about success. With your busy schedule and the desire to move your career forward, you can earn an accredited associate, bachelors or master’s degree at a pace that works for you anywhere, anytime, 24/7.

At AIU, the Serious U, you can get started to get ahead.

Programs:

  • Bachelor of Accounting
  • Bachelor's (BBA) - Accounting
  • Bachelor's (BBA) - Finance

Centura College, with campus locations in Virginia, South Carolina and Florida, is dedicated to helping students gain the skills and attitudes necessary to succeed. Drawing from over 30 years of career school experience.

Programs:

  • Associate of Applied Science Degree in Business-Concentration in Accounting Administration
Locations:  Newport News
  • Education Connection is a 100% Free College Matching Service used by 50,000 People Daily.
  • Get Matched to the Right Business Administration and Management, Accounting, Healthcare Administration, Marketing and Entrepreneurship Degree Program for YOU.
  • Affordable and Flexible Business Degree Programs from Top Colleges Across the Nation. Both Online And Campus!
  • Just Fill Out a Few Questions and You Can Find Your Perfect Business Degree Program Within Minutes.
  • Start Using our Fast, Free, and Easy Matching Service Right HERE and Right NOW!

Programs:



Matching School Ads
  • Purdue University Global
  • Experience world-class education online: Purdue Global offers 180 programs at associate's, bachelor's, master's and doctoral levels.

Programs:

  • Bachelors of Science in Nursing - RN to BSN
  • Accelerated BSN to MSN
  • Fortis offers nursing programs including ADN, PN, BSN degrees, and more
  • 40+ schools in 15 states including Florida, Arizona, Ohio, and Virginia
  • All colleges are accredited by ABHES, ACCSC, ACICS, or other accrediting bodies
  • Fortis Online serves benefits to US military service members
  • Grants & scholarship aid may be available for qualifying students

Programs:

  • Registered Nurse to Bachelor of Science in Nursing
  • Associate Degree in Nursing
  • Practical Nursing
  • And more...
Locations:  Grand Prairie

There are a lot of reasons Bryant & Stratton College is the place to get an education. From the personal attention you receive from instructors that stay after class to make sure you are on the right track.

Programs:

  • BS Nursing Generalist
  • AAS/ADN Nursing
  • AAS Medical Assisting
Locations:  Virginia Beach

Making the decision to earn your degree and pursue your career goals could be the best decision you ever make. Enroll at ECPI University and you’ll join a collaborative and fostering learning environment, surrounded by faculty and staff who are there to support you through the entire process.


What sets ECPI University apart? Just ask the employers who hire our graduates. Since 1966, more than 3,800 employers have looked to ECPI for talented professionals who are capable of entering the workplace and doing the job right on the very first day. That’s because our curriculum is designed to meet the needs of today’s highly-specialized job market.

 

What Are You Waiting For?

Programs:

  • Nursing (RN) - Associate's
  • Practical Nursing - Diploma
Locations:  Newport News
  • Why Earn Your Degree from GCU?
  • Options: Choose from a variety of undergraduate and graduate degree programs in Business, Nursing, Psychology, Education & more!
  • Convenience: Complete courses online, on campus, or a combination of both!
  • Earlier Graduation: Our 4-credit courses allow you to complete your degree program in less time.
  • Transfer Friendly: We will request your transcripts, evaluate your graduate coursework, and determine your anticipated graduation date within 24 hours.
  • Quality: Grand Canyon University was founded in 1949 and is regionally accredited. Learn more today!

Programs:

  • B.S. in Nursing (Registered Nurse - R.N. to B.S.N)
  • Flexible, online and on-campus program available.
  • Capstone projects and clinical practicums that can help prepare students for more career opportunities.
  • Students learn from instructors with experience in the health care field.
  • Programs include Bachelor of Science in Health Care Administration, Bachelor of Science in Health and Wellness, Master of Health Care Administration, and more.

Programs:

  • Bachelors of Science in Nursing - RN to BSN
  • Medical Assisting

Centura College, with campus locations in Virginia, South Carolina and Florida, is dedicated to helping students gain the skills and attitudes necessary to succeed. Drawing from over 30 years of career school experience.

Programs:

  • Associate of Occupational Science Degree in Medical Assisting-Concentration in Clinical Support
  • Medical Assisting Diploma
Locations:  Newport News
Want to take your career to the next level? Salem University Online is the perfect place to start. Study online, from anywhere, and gain the skills you need to succeed.

Programs:

  • RN to BSN

The Metropolitan Institute of Health and Technology (MIHT) is dedicated to educating men and women to serve with confidence in the health and technology industry. MIHT provides career training for students to move forward in their chosen field of study, changing their lives for the better. MIHT strives to provide quality education with affordable tuition. Our staff works to determine the best financial options for students on an individualized level.

Programs:

  • Clinical Medical Assisting
Locations:  Lorton
  • Looking for an Online Healthcare Degree Program That May Improve Your Career Options?
  • EarnMyDegree.com Can Help You Match Your Educational Goals With Your Desired Career.
  • Whether You Are Looking to Earn a Degree Online, or Study at a Nearby Campus, This Is The Place to Connect With a College That May Be Ideal for You.
  • Browse Through Our List Of Online Colleges and Traditional Schools to Determine Potential Places to Earn a Degree NOW!

Programs: