Certificate of deposit is the account option features a note issued by a bank to a depositor for funds placed for a set period. Hence, option B is correct.
What is Certificate of deposit?
A deposit certificates is a variety of checking account where the lending institution pays interest in exchange for holding a specified sum of money for a predetermined length of time, such as six months, a year, or five years. A person will receive the amount you initially invested, plus any interest when a person cash in or redeem the CD.
However, CD stands for certificate of deposit in financial lingo. A certificate of deposit is a savings account that enables you to save cash over a specific period of time, such as six months, a year, or five years, often at a fixed interest rate.
Thus, option B is correct.
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