A certificate of deposit is a type of draft.

Name: A certificate of deposit is a type of draft.
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A certificate of deposit is a type of investment account offered by banks and usually has a fixed term with a specified interest rate, but it is not a type of draft. A draft is a written order by one person (the drawer) to another person (the drawee) to pay a specified amount of money to a third person (the payee).

A Certificate of Deposit Is a Type of Draft