A negotiable certificate of deposit is a marketable receipt for funds deposited in a bank for a period of one to 18 months.

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A negotiable certificate of deposit is indeed a marketable receipt for funds deposited in a bank for a period of one to 18 months. It is an instrument used by banks to raise funds from investors, who lend money to the bank in exchange for a fixed rate of interest over a set period of time. These certificates can be bought and sold on the open market, which makes them a popular investment choice for many investors because they offer liquidity and a relatively low-risk way to earn a return on their money.

A Negotiable Certificate of Deposit Is a Marketable Receipt for Funds