Certificate of Deposits (CD’s)
Banks offer a variety of terms for their deposit accounts, ranging from 3
months to 5 years, depending on the investor’s needs. CD’s allow
depositors to invest their cash for a specific length of time. The longer
the term of investment, the higher the yield will be. A client wishing to
receive monthly interest payments can elect to do so at the time of
application, or chose to let the interest accrue until the CD matures.
The only downside to a CD is if you need to pull money out before the
maturity date you will pay a fee. The fee is usually equivalent to 3 months
worth of interest. --- 罚款通常是三个月的利息