How Much Is A Certificate Of Deposit (CD) In 2023

Certificate Of Deposit (CD) CDs are issued by banks, credit unions, and other financial institutions and are insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA) up to $250,000 per depositor, per institution.

CDs are popular among savers who want to earn a higher interest rate than a regular savings account and who do not need immediate access to their money. CDs typically require a minimum deposit amount and a minimum term length, which can range from a few months to several years. The longer the term and the larger the deposit, the higher the interest rate.