California Assignment of Certificate of Deposit Agreement

State:
Multi-State
Control #:
US-01008DR
Format:
Word; 
Rich Text
Instant download

Description

A certificate of deposit is a certificate or document issued by a bank acknowledging the receipt of money with a promise to pay to the depositor the amount of the deposit plus interest. This form is a collateral assignment of a certificate of deposit to secure a debt or some other obligation.

This form is a generic example that may be referred to when preparing such a form for your particular state. It is for illustrative purposes only. Local laws should be consulted to determine any specific requirements for such a form in a particular jurisdiction.

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  • Preview Assignment of Certificate of Deposit Agreement
  • Preview Assignment of Certificate of Deposit Agreement
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How to fill out Assignment Of Certificate Of Deposit Agreement?

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FAQ

How do CDs work? Definition and explanation. A certificate of deposit (CD) is a time deposit account that pays a fixed interest rate over a period of time (generally ranging from 30 days to 5 years). Any early withdrawals of funds before the set maturity date come with a penalty fee.

Certificate of deposit (CD), a receipt from a bank acknowledging the deposit of a sum of money. Two common types are demand certificates of deposit and time certificates of deposit. Demand certificates of deposit.

For example, a $10,000 CD with a 3% interest rate compounded daily for 1 year would earn approximately $304.33. This would result in a total value of approximately $10,304.33 at the end of the CD term and an APY of 3.043%.

Meaning of deposit receipt in English a document showing an amount that someone has paid as part of a payment for something they are going to buy: A deposit receipt proves that you have paid the deposit on your home purchase.

Certificates of deposit offer stability for people that want to earn more on their money without the risk inherent in stocks and bonds. Although interest rates may be higher than savings accounts and money markets, you'll want to read the fine print carefully.

ASSIGNMENT OF CERTIFICATE OF DEPOSIT means a certain ASSIGNMENT OF CERTIFICATE OF DEPOSIT of even date hereof in which the BORROWER assigns the CERTIFICATE OF DEPOSIT to the BANK as COLLATERAL for the payment of the OBLIGATIONS.

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California Assignment of Certificate of Deposit Agreement