Which CD starts with a higher rate,has a long time to maturity,and can be retired by the bank after a set time period?

Question

Quizplus · Accepted Answer

A callable CD starts with a higher rate and has a long time to maturity, but can be retired by the bank after a set time period if interest rates decline. This gives more flexibility to the bank, and often results in a higher starting interest rate for the CD compared to a traditional CD.

Which CD Starts with a Higher Rate,has a Long Time