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A Certificate of Deposit (CD) is a deposit made by an investor to a bank or broker, earning interest over a set period. CDs offer a higher interest rate than savings accounts and money market accounts but require the money to be kept for the CD term or face withdrawal fees. CDs come in various lengths, deposit amounts, and interest rates, with terms and fees differing. Most CDs are issued by banks or brokerages, with bank CDs typically being FDIC-insured up to a certain amount.