A certificate of deposit (CD) is an interest-bearing deposit account, where funds must remain in the CD account for a certain length of time in order to earn a promised rate of return. CDs are offered for a variety of maturity timeframes, ranging from 32 days to 5 years. You can open a CD in the mobile app or at any East West Bank branch office.
Note: The FDIC (Federal Deposit Insurance Corporation) insures up to $250,000, per insured bank for each ownership category. East West Bank is an FDIC-insured bank, and the CD account is covered by the FDIC.