Some long-term, high yield certificates of deposit have call features, meaning that the issuing bank may choose to terminate or call the CD after a predetermined period of time.  The original investment with accrued interest will be return to the investor.  Only the issuing bank may call a CD, not the account holder.  A bank might decide to call its high yield CDs if interest rates fall in which case your funds are returned to you when the interest rate environment is less favorable for investing these funds.  But if you’ve invested in a long term bank CD and interest rates subsequently rise, you’ll be locked in at the lower rate and be fairly certain that CD will not be called.  Call features on bank CDs are features that protect the bank not the investor.  If the option is available, shop and compare bank CD rates that do not have these feature and avoid bank CDs that have call features.

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