Jumbo CD: What is the Meaning of Jumbo CD?
Jumbo CD refers to Large certificates of deposit are CDs that require a minimum balance from traditional CDs. In turn, jumbo CDs offer higher interest rates. A CD is a type of savings account that pays fixed or floating interest in exchange for savers who deposit money into an account on their due date.
- Giant CDs usually have a minimum balance of $ 100,000.
- Although jumbo CDs require less credit than traditional CDs, they offer higher interest rates in return.
- Large CDs pay investors a fixed interest rate that helps consolidate investment portfolio returns by partially meeting market risk.
Proof of deposit of Rs. 90,000 or more is usually required with high minimum deposit. Their interest rates are slightly higher. However, if the value of interest exceeds Rs. Of course, you can store several jumbo CDs at different banks.
Literal Meanings of Jumbo CD
Meanings of Jumbo:
What a great person or thing.
Synonyms of Jumbo
monster, brute, beast, giant, colossus, mountain, behemoth, leviathan, mammoth, monstrosity, huge, enormous, vast, immense, very large, very big, great, massive, cosmic, colossal, prodigious, gigantic, gargantuan, monumental, tremendous, stupendous
Meanings of CD:
Look at this girl.
The chemical element cadmium.