certificate of deposit

With the stock market so high, I have suggested that he might want to sell the investments, take the tax hit and consolidate into short-term certificates of deposit or similar.

It may not make sense to prepay a 3% mortgage when you can earn 5% on a certificate of deposit, for example.

With a credit builder loan, the borrowed amount is stored in a savings account or certificate of deposit that the borrower can claim after a set number of monthly payments.

A campaign of rate increases by the Federal Reserve, which is intended to tamp down inflation, has driven yields that investors can get on ultrasafe instruments like certificates of deposit to 5 percent or higher.

But some banks have already started reducing the rates they pay to consumers, including on some certificates of deposit.