# Certificate Deposit
A certificate of deposit or CD is a type of [financial asset](financial-asset.md) known as a time deposit. CDs are a type of debt instrument over a fixed term (often specified in years) and usually priced at a fixed interest rate. The issuer of a CD to be held until maturity, at which time they can be withdrawn and interest paid.

See also [deposit](deposit.md), [assets](assets.md), and [financial asset](financial-asset.md).

## References
1. Roche, Cullen O. 2011. ‘Understanding the Modern Monetary System’. http://ssrn.com/paper=1905625.
1. Grinold, Richard C., and Ronald N. Kahn. Active portfolio management: Quantitative theory and applications. Probus, 1995.
1. Wilmott, Paul. Paul Wilmott introduces quantitative finance. John Wiley & Sons, 2007.