[ skip to main content ]

About WaMu | Locations | Contact Us |
Search this Site
Log in to Your Accounts
Log in to your accounts

Customer Service > Questions & Answers > Frequently Asked Questions > Personal Banking >

Personal Savings

What is a certificate of deposit (CD) and why should I invest in one?

A certificate of deposit or CD is a short- or medium-term, interest bearing investment. CDs normally offer a higher interest rate than liquid savings accounts and they provide a guaranteed rate for a specific term. Individuals who want high rates with a guaranteed return and do not need regular access to their money should consider a CD. Total deposits including CDs are FDIC insured to maximum allowed by law.