- Money earns interest at an agreed rate
- There is usually a minimum amount that is required to operate this account
- A certificate of deposit is usually issued to a depositor
- If the money is withdrawn before expiry of agreed period the depositor may lose the accrued
interest
- The money plus all the interest can be withdrawn at the time of the agreed period
gideon1 answered the question on October 2, 2017 at 16:50
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