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What is a certificate of deposit?

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What is a certificate of deposit?

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A Certificate of Deposit (CD) is a savings certificate that entitles the holder to receipt of interest. CDs tend to offer higher interest rates than a traditional savings accounts because the holder commits to a fixed rate for a set term. And Costco members receive an exclusive rate on CDs. Capital One offers CDs in terms of 18 months, 3 years, 5 years and 7 years with a minimum investment of $5,000. Costco Executive Members get a $60 bonus interest credit and Gold Star and Business Members get a $20 bonus interest credit on your CD.* To qualify, this must be your first Direct Banking account of any kind opened through the Costco program. Capital One offers CDs in terms of 18 months, 3 years, 5 years and 7 years with a minimum investment of $5,000.

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