Do you want to know what certificates of deposit are? From Responsible Economy we explain what CDs are, what types there are and which are the best in the United States in 2023. *Best CDs: https://www.youtube.com/playlist?list=PLFgxcB9hCEbNvgs1PqK7Qaj5F3HsJ3mpk Certificates of deposit are a financial instrument used to save. The operation they have is very simple, you make a deposit of money in a bank, and you cannot withdraw the money within the period agreed with the bank. The most common is that you can choose terms between 6 and 60 months. In exchange for leaving the money immobilized in the bank, you can get an interest rate that is higher than 4.5% A-P-Y. Penalty-free certificates of deposit are those that allow you to withdraw money at any time without the bank penalizing you. Basically, IRA CDs allow you to defer, deduct, or pay less taxes. The big drawback of IRA CDs is that the interest rates are very low since they do not reach 1% A-P-Y and in most cases you have a penalty if you withdraw the money before the age of 59. 00:10 Index 00:24 What certificate of deposit are? 01:19 Normal CD 01:40 No Penalty CD 02:04 IRA CD 03:12 Examples 03:41 best certificate of deposit #whatarecertificateofdeposit #certificateofdepositexplained #certificateofdeposit