TermBanking & credit
CD / GIC
A savings product where you lock money for a set term for a fixed rate (CD in the US, GIC in Canada).
Watch out for this
Higher rate than savings, but your cash is tied up until maturity.
About this entry: short by design — every term in The Money Translator gets a one-sentence definition and a one-sentence reason to care. Some terms get deeper guides under the work.