Certificate of deposit (CD)

certificates of deposit (cds), or time deposits, are a type of deposit account cds are sold in specific amounts and with specific maturity dates if the customer decides to withdraw the funds before the applicable maturity date, they will typically be required to pay a penalty a penalty month is a configuration that defines the maximum number of months that a penalty applies for instance, configuring penalty months as 12 would mean that if the money is withdrawn (account is closed) before 12 months have passed, (x) fee days would be withdrawn from the account as a penalty fee days define how many days of simple interest to assess as a penalty cos allows a maximum of 2 penalty tiers for cds create a cd account with the open a deposit account endpoint you must have the proper product id and a customer id for the account holder other cd endpoints available include withdraw funds early from a cd get activity on specific cd get cd penalty fee value