December 25, 2020

Certificates of deposit (CD)

Certificates of deposit

  • A periodic deposit certificate that can be transferred to a third party
    • The period is more than 30 days, and some are over a year, but most are 90 to 180 days
  • Anyone can withdraw a deposit by presenting a transferable deposit certificate to the bank on the maturity date
    • In a simple way, unlike a savings passbook, CDs usually do not have a name written on the bankbook (at least in South Korea)
      • Since it has no name, it can be sold to anyone
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