What are Certificates of Deposits “CDs” & Term Deposits “TDs”?
CDs and TDS are saving instruments that are offered by most banks, whereby you deposit a certain sum of money with the bank for a specific period and they pay you an agreed-upon interest rate.
What is the difference between Certificates of Deposits “CDs” & Term Deposits “TDs”?
While CDs & TDs seem to be different instruments, they are actually the same thing. CDs typically refer to deposits with a period of greater than one year while TDS to deposits with a period of less than one year.
What are the main factors to consider when researching CDs & TDs?
There are a few factors you need to decide on before you start comparing between different CDs & TDs. Namely: