How do CDs Word

How do CDs Word - The consumer who opens a CD may receive a...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
How CDs workCDs typically require a minimum deposit, and may offer higher rates for larger deposits. In the US, the best rates are generally offered on "Jumbo CDs" with minimum deposits of $100,000. However there are also institutions that do the opposite and offer lower rates for their "Jumbo CDs".
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: The consumer who opens a CD may receive a passbook or paper certificate. It is now common for a CD to consist simply of a book entry and an item shown in the consumer's periodic bank statements; that is, there is usually no "certificate" as such....
View Full Document

Ask a homework question - tutors are online