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Can someone explain to me how a Certificate of Deposit works?

April 26, 2017Business Certificate of Deposit explain Finance personal finance

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Can someone explain to me how a Certificate of Deposit works?

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How it works is that you place your money in a CD and the money is locked in there for the amount of time your CD is set at…lets say its 4 months…so your money is locked and you can’t touch it for till it matures at the end of the 4th month…and the intrest occurs on it monthly…you can’t add or take money out till it matures….at the end of the 4th month you usually have 7 days to add money or take money out or renew it…what ever you want to do its up to you.