A product offered directly by banks and credit unions
- 정기예금: 기간 동안 일정 금액을 금융기관에 예치하고, 그 기간이 끝날 때 원금과 이자를 받는 예금 상품
- 예적금만 믿고 있다가 가난해지는 시대가 왔다
- Fixed deposit/Time deposit
- One of the lowest-risk investment options out there
- How it works:
- You deposit a certain amount of money in a CD account and leave it untouched for a set amount of time
- The bank/credit union pays you interest while your money is deposited with them
- Term/Interest rate/principal are all fixed
- Can’t make withdrawals/deposits
- Will get penalty for withdrawal
- The greater the deposit and the longer the term, the higher the interest rate