A certificate of deposit (CD)is a demand deposit.

Name: A certificate of deposit (CD)is a demand deposit.
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A certificate of deposit (CD) is a time deposit, not a demand deposit. It is an agreement where the depositor agrees to keep the funds in the account for a particular fixed term, and in return, the bank or financial institution pays interest on those funds. Unlike demand deposits, funds in a CD cannot be withdrawn before the maturity date without penalties or fees.

A Certificate of Deposit (CD)is a Demand Deposit