Certificates of deposit (CDs) are generally simple financial products. You invest a lump sum of money for a fixed period of time, and, in return, you receive a guaranteed fixed interest rate in return. And the best part? CDs are FDIC insured up to $250,000 per depositor, per FDIC-insured bank, per ownership category according to the FDIC. So they’re a safe and easy way to save for your short and medium-term goals.
But there are many types of CDs with special features that can be used for just about any financial situation.
