Certificates of Deposit
Set aside funds to withdraw on a specified date to prevent unnecessary spending.
A certificate of deposit, or CD, is a savings tool that has a fixed interest rate and fixed date of withdrawal, known as the maturity date. In order to qualify as a time deposit, a CD must have a penalty for early withdrawal.
Why you might benefit from a CD:
CDs are beneficial when your business won’t need access to your saved cash during the duration of the term length. With competitive rates and a variety of term lengths, CDs are a great way to grow your savings and plan for the future.