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Home > Corporate > Treasury > Domestic > Certificate of Deposits (CD)

Treasury - Certificate of Deposits (CD)

A CD is a negotiable money market instrument issued by a commercial bank in dematerialized form for a specified period of time at a market determined discount rate. The face value is payable on maturity by the issuing bank. The maturity period of CDs issued by a bank should be not less than 7 days and not more than a year. Discount is calculated on actual/365 day (rear-ended) basis. CDs are freely transferable by endorsement and delivery. CDs are issued in the form of usance promissory notes attracting stamp duty, akin to CPs.

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