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certificate of deposit
noun phrase
: a money-market bond of a preset face value paying fixed interest and redeemable without penalty only on maturity
Examples of certificate of deposit in a Sentence
Recent Examples on the Web
While the interest in a high-yield savings account can go up or down based on the Federal Reserve’s benchmark rate, the interest on a certificate of deposit can be fixed for a set period of time, meaning no fluctuations in returns for the duration of the term.
—Sarah Min, CNBC, 19 July 2024
The annual percentage yield on a five-year certificate of deposit has jumped to 2.87%, up from 0.5% in March 2022, according to Haver.
—Darla Mercado, Cfp®, CNBC, 18 Sep. 2024
For instance, opening a high-yield savings account or a certificate of deposit (CD) only takes a bit of research up front, plus some time invested in opening the account.
—Becca Stanek, theweek, 29 Aug. 2024
If so, keep that amount in a high yield savings account, a money market account, or a short-term certificate of deposit.
—Jennifer Morris, The Mercury News, 8 July 2024
Bread Financial , once home of the 5.25% yield on a 1-year certificate of deposit, has dialed back its rate.
—Darla Mercado, Cfp®, CNBC, 26 July 2024
Now, on to something more business-y. For the kitchen-table investor with a little money to spare, now might be an ideal time to consider investing in a certificate of deposit.
—Daniel De Visé, USA TODAY, 26 June 2024
For instance, as of March 31, 2023, the national average rate for a one-year certificate of deposit with $10,000 was 2.28% for credit unions and 1.74% for banks.
—Jasmine Browley, Essence, 15 June 2024
The window for securing a top-notch rate on a certificate of deposit (CD) may soon close, according to The New York Times.
—Becca Stanek, theweek, 17 Jan. 2024
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'certificate of deposit.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Word History
First Known Use
1846, in the meaning defined above
Time Traveler
The first known use of certificate of deposit was
in 1846
Dictionary Entries Near certificate of deposit
Cite this Entry
“Certificate of deposit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/certificate%20of%20deposit. Accessed 4 Nov. 2024.
Legal Definition
certificate of deposit
: a money-market bond of a preset face value (as $10,000) paying fixed interest and redeemable without penalty only on maturity (as after two years)
More from Merriam-Webster on certificate of deposit
Britannica.com: Encyclopedia article about certificate of deposit
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