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Certificates of deposit are insured for up to ________ in the event of bank insolvency.

Sagot :

Certificates of deposit are insured for up to $250,000 per person, per bank in the event of bank insolvency.

A certificate of deposit is a time deposit. It is a savings account that holds a fixed amount of money for a fixed period of time. Currently, the Federal Deposit Insurance Corp (FDIC)guarantees deposits of up to $250,000 per person, per bank.

Certificates of deposit offers safer but lower rates of return as compared to stocks or bonds. Thus, they are mostly issued by banks and credit unions in exchange of an interest income.

Hence, certificate of deposit still remain a highly sought after investment.

To learn more about certificate of deposit here:

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