Investments & Financial Planning
What is a Brokered Certificate of Deposit ?
Answer:
A brokered Certificate of Deposit is a certificate of deposit issued by a bank or thrift institution bought by a brokerage firm in bulk for the purpose of reselling to their brokerage customers. A broker Certificate of Deposit features a higher interest rate, usually 1 percent higher, and is FDIC insured and do not usually have commissions.
