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A certificate of deposit, or CD, is a safe investment where an investor deposits money with a bank or broker for a predetermined period, earning interest. CDs offer higher interest rates than savings or money market accounts, but require the money to be kept for the term of the CD. Withdrawals before the term may incur fees. CDs come in different lengths, deposit amounts, and interest rates, with terms and fees varying. Most CDs are issued by banks or brokerages, with bank CDs being FDIC-insured up to a certain amount, guaranteeing against loss.