Do Certificates Of Deposit Have Compound Interest?

Levelfinancing11 Jul, 2023Finance

Certificates of Deposit (CDs) are a well-known investment type that keeps people’s savings secure and provides an opportunity to earn interest. One of the biggest attraction factors of certificates of deposit is their varying terms, ranging from just a few months to multiple years, with higher interest rates for longer-term options. During this time, the agreement is that the investor will keep their funds in the CD, and the bank will give them a fixed interest rate.