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SESK: Stuff Everyone Should Know · sesk.info/teen-cd-fixed-rate

A certificate of deposit (CD) usually has what two fixed features?

A CD has a fixed maturity date and interest rate.

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  1. A credit limit and a monthly fee
  2. A maturity date and an interest rate ✔
  3. A spending limit and a PIN

Why: A CD is a savings tool at a bank or credit union. You agree to leave the money until the maturity date, and in return the rate stays fixed.

Huh, didn't know that: The FDIC lists CDs among the deposit accounts that are insured.

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References

Answer: A maturity date and an interest rate. A CD is a savings tool at a bank or credit union. You agree to leave the money until the maturity date, and in return the rate stays fixed.

  1. CFPB Youth Financial Education Glossary www.consumerfinance.gov/consumer-tools/educator-tools/youth-financial-education/glossary
    A savings tool from a bank or credit union that has a fixed maturity date and a fixed interest rate.
    Checked 2026-10-10.

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