What is a certificate of deposit?

What is a certificate of deposit? Here are some definitions.

Noun A type of bank account representing a time deposit, which is insured, with a specific, fixed term, and, usually, a fixed interest rate. The certificate issued to the holder of such an account, verifying that he owns it. Find more words! 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A modern version of the promissory notes is the sterling commercial paper or certificate of deposit. This means you can't get paid for distributing cash held in a checking account, savings account, certificate of deposit or money market account. Having the money in a certificate of deposit is no good if an apartment is available now. Of course, that's awfully good when the alternative is a bank certificate of deposit that may yield a sliver of 1 percent. What's the interest rate on a savings account, certificate of deposit and money market account? See Also What is another word for certificate of deposit? Sentences with the word certificate of deposit What is the plural of certificate of deposit? Nearby Definitions certificateless certificated certificate authority certificate authorities certificate certifiably Certificate of Need certificates certificates of deposit Certificates of Need certificating certification