- certificate of deposit
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certificate of deposit: a money-market bond of a preset face value (as $10,000) paying fixed interest and redeemable without penalty only on maturity (as after two years)
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.
- certificate of deposit
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n.A document issued by a bank to a customer indicating that it has received a sum of money from the customer and will repay it with interest at a specific date.
The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.
- certificate of deposit
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(CD)A document issued by a bank in return for a deposit of money. Interest rates on CDs are fixed, and usually higher than on savings accounts, because banking institutions require a commitment to leave the money on deposit for a fixed period of time. Often there is a financial penalty (fee) for cashing in a CD before the pledged time has run out.Category: Personal Finance & Retirement
Nolo’s Plain-English Law Dictionary. Gerald N. Hill, Kathleen Thompson Hill. 2009.
- certificate of deposit
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A certificate issued by a bank to the depositor of funds. The certificate records the amount of money deposited, the term of the deposit and the fixed interest rate payable, and entitles the bearer to repayment on those terms. If the depositor needs money before the end of the fixed term, he can sell the certificate to a third party, usually a discount house.Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
- certificate of deposit
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n.1 A certificate from a bank acknowledging the receipt of money and a promise to repay it at a specified time and with interest determined at a specified rate.2 A bank document evidencing a time deposit. Abbreviated CD.
Webster's New World Law Dictionary. Susan Ellis Wild. 2000.
- certificate of deposit
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A written recognition by a bank of a deposit, coupled with a pledge to pay the deposited amount plus interest, if any, to the depositor or to his or her order, or to another individual or to his or her order.A form of commercial paper that serves as documentary evidence that a savings account exists.
Dictionary from West's Encyclopedia of American Law. 2005.
- certificate of deposit
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A written recognition by a bank of a deposit, coupled with a pledge to pay the deposited amount plus interest, if any, to the depositor or to his or her order, or to another individual or to his or her order.A form of commercial paper that serves as documentary evidence that a savings account exists.
Short Dictionary of (mostly American) Legal Terms and Abbreviations.
- certificate of deposit
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(CD)n.a document issued by a bank in return for a deposit of money which pays a fixed interest rate for a specified period (from a month to several years). Interest rates on CD's are usually higher than savings accounts because banking institutions require a commitment to leave money in the CD for a fixed period of time. Often there is a financial penalty (fee) for cashing in a CD before the pledged time runs out.
Law dictionary. EdwART. 2013.
