Certificate of Deposit Market Outlook

The global certificate of deposit (CD) market size was valued at approximately USD 1 trillion in 2023, and it is projected to reach nearly USD 1.5 trillion by 2032, growing at a compound annual growth rate (CAGR) of around 4.5%. This growth is primarily driven by the increasing preference for safe and secure investment options amidst global economic uncertainties. Factors such as technological advancements in banking, fluctuating interest rates, and evolving consumer preferences are expected to further fuel the expansion of the CD market. As investors seek to balance risk and return, the certificate of deposit market is poised for significant growth over the next decade.

A major growth factor in the certificate of deposit market is the heightened demand for low-risk investment products, especially in volatile economic climates. As global markets experience fluctuations due to geopolitical tensions and unpredictable economic policies, investors are increasingly turning to CDs as a stable and predictable source of income. The fixed interest rates and government insurance associated with CDs make them an attractive option for risk-averse investors. Additionally, the increasing financial literacy among the population is leading to greater awareness of CDs as an investment tool, further driving market growth.

The digital transformation of banking services has also had a profound impact on the certificate of deposit market. Online banks and financial institutions are now offering more competitive rates and greater accessibility to CD products, thereby expanding their customer base. This digital shift has not only increased the convenience for consumers but also allowed institutions to reduce operational costs, enabling them to offer more attractive rates. Furthermore, the proliferation of fintech platforms has facilitated easier comparison of CD rates and terms, empowering consumers to make more informed investment decisions, which ultimately supports market growth.

Interest rates, which are a critical determinant of the attractiveness of CDs, have become progressively volatile, largely influencing the dynamics of the CD market. Central banks across the globe are adjusting rates in response to inflationary pressures and economic recovery efforts post-pandemic. While higher interest rates may enhance the appeal of CDs by offering better returns, they also make other investment avenues more attractive. Consequently, financial institutions are developing innovative CD products with features such as bump-up rates or liquidity options to maintain competitiveness. As interest rate environments evolve, so too will the strategies employed by both issuers and investors within the CD market.

Regionally, North America holds a significant share of the certificate of deposit market, driven by a mature banking sector and a high level of investor awareness. Europe follows closely, with its robust regulatory framework and stable economic environment contributing to sustained interest in CDs. Meanwhile, the Asia Pacific region is expected to exhibit the fastest growth rate, attributed to rapid economic development and increasing individual wealth in countries such as China and India. The Latin America and Middle East & Africa regions are also anticipated to see moderate growth, spurred by improving financial infrastructure and increasing investor education initiatives. Overall, the global CD market is poised for steady expansion, with varying growth trajectories across different regions.

Type Analysis

The certificate of deposit market is diverse, encompassing several types of CDs, each catering to different investor needs and preferences. Traditional CDs remain the most prevalent, offering fixed interest rates over specified terms. Their appeal lies in their simplicity and the assurance of a guaranteed return, which continues to attract conservative investors. The demand for traditional CDs is particularly strong among retirees and individuals seeking stable income sources. Despite the emergence of more flexible CD options, traditional CDs maintain their dominance due to the predictability and security they offer in uncertain financial climates.

Bump-Up CDs have gained traction as investors seek products that allow for interest rate adjustments during the term. This type of CD offers the potential for higher returns if market rates increase, providing a hedge against rising interest environments. The flexibility of bump-up CDs makes them attractive to investors who wish to capitalize on upward trends without abandoning the security of a CD. Howe

Certificate of Deposit Market size was valued at USD 7.2 Billion in 2023 and is projected to reach USD 10.8 Billion by 2031, growing at a CAGR of 5% from 2024 to 2031.Certificate of Deposit Market: Definition/ OverviewA Certificate of Deposit (CD) is a fixed-income financial instrument given by banks and credit unions in which a person commits to deposit a specific amount of money for a set length of time in exchange for a guaranteed fixed interest rate. CDs are often seen as low-risk investments, providing investors with regular returns while shielding their wealth from market volatility. Certificates of Deposit are used as a secure savings option for those wishing to conserve their cash while receiving interest, making them especially appealing during times of economic turmoil. Furthermore, financial organizations use CDs to stabilize their financing sources, allowing them to lend or invest the pooled money more effectively, thus promoting broader economic activity.

Congo, The Democratic Republic of the CD: Interest Rate Spread data was reported at 16.436 % pa in 2017. This records an increase from the previous number of 15.671 % pa for 2016. Congo, The Democratic Republic of the CD: Interest Rate Spread data is updated yearly, averaging 20.727 % pa from Dec 2007 (Median) to 2017, with 11 observations. The data reached an all-time high of 49.343 % pa in 2009 and a record low of 14.657 % pa in 2013. Congo, The Democratic Republic of the CD: Interest Rate Spread data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Democratic Republic of Congo – Table CD.World Bank: Interest Rates. Interest rate spread is the interest rate charged by banks on loans to private sector customers minus the interest rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; Median;

China CD of Commercial Bank (AA) Yield: Yield to Maturity: 2 Month data was reported at 1.712 % pa in 16 May 2025. This records an increase from the previous number of 1.690 % pa for 15 May 2025. China CD of Commercial Bank (AA) Yield: Yield to Maturity: 2 Month data is updated daily, averaging 2.560 % pa from Feb 2017 (Median) to 16 May 2025, with 2067 observations. The data reached an all-time high of 5.758 % pa in 27 Dec 2017 and a record low of 1.212 % pa in 07 Apr 2020. China CD of Commercial Bank (AA) Yield: Yield to Maturity: 2 Month data remains active status in CEIC and is reported by China Central Depository & Clearing Co., Ltd. The data is categorized under China Premium Database’s Money Market, Interest Rate, Yield and Exchange Rate – Table CN.MO: CD of Commercial Bank Yield: Yield to Maturity.

This dataset provides values for INTEREST RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

Congo, The Democratic Republic of the CD: Central Bank Policy Rate: End of Period data was reported at 20.000 % pa in 2017. This records an increase from the previous number of 7.000 % pa for 2016. Congo, The Democratic Republic of the CD: Central Bank Policy Rate: End of Period data is updated yearly, averaging 20.000 % pa from Dec 2006 (Median) to 2017, with 12 observations. The data reached an all-time high of 70.000 % pa in 2009 and a record low of 2.000 % pa in 2015. Congo, The Democratic Republic of the CD: Central Bank Policy Rate: End of Period data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Democratic Republic of Congo – Table CD.IMF.IFS: Money Market and Policy Rates: Annual.

Bank Lending Survey: HO: Next 3 Months: CD: Fixed Rate Loans data was reported at 0.600 % in Sep 2018. This records an increase from the previous number of 0.040 % for Jun 2018. Bank Lending Survey: HO: Next 3 Months: CD: Fixed Rate Loans data is updated quarterly, averaging 0.050 % from Dec 2007 (Median) to Sep 2018, with 44 observations. The data reached an all-time high of 0.900 % in Mar 2018 and a record low of -0.480 % in Dec 2013. Bank Lending Survey: HO: Next 3 Months: CD: Fixed Rate Loans data remains active status in CEIC and is reported by Norges Bank. The data is categorized under Global Database’s Norway – Table NO.KB003: Bank Lending Survey.

Key information about Colombia Long Term Interest Rate

• Colombia Long Term Interest Rate: Month End: Colombia: Treasury Securities Rate: 10 Years was reported at 11.98 % pa in Feb 2025, compared with 12.03 % pa in the previous month.
• Colombia Long Term Interest Rate data is updated monthly, available from Jan 2003 to Feb 2025.
• The data reached an all-time high of 16.18 % pa in Apr 2003 and a record low of 5.07 % pa in Feb 2013.
• Long Term Interest Rate is reported by reported by CEIC Data.

• In the latest reports, Colombia Short Term Interest Rate: Month End: Colombia: Certificate of Deposits Rate: 90 Days was reported at 13.02 % pa in Jun 2023.
• The cash rate (Policy Rate: Month End: Intervention Rate: Minimum) was set at 9.50 % pa in Feb 2025.
• Colombia Exchange Rate against USD averaged 4,213.53 (USD/COP) in Jun 2023.

The benchmark interest rate in Egypt was last recorded at 24 percent. This dataset provides - Egypt Interest Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Deposit Interest Rate in Argentina decreased to 32.73 percent in May from 33.30 percent in April of 2025. This dataset includes a chart with historical data for Deposit Interest Rate in Argentina.

Deposit Interest Rate in Dominican Republic increased to 9.07 percent in May from 8.75 percent in April of 2025. This dataset includes a chart with historical data for Deposit Interest Rate in Dominican Republic.

Norway Bank Lending Survey: HO: Past 3 Months: CD: Fixed Rate Loans data was reported at 0.810 % in Sep 2018. This records an increase from the previous number of 0.150 % for Jun 2018. Norway Bank Lending Survey: HO: Past 3 Months: CD: Fixed Rate Loans data is updated quarterly, averaging 0.140 % from Dec 2007 (Median) to Sep 2018, with 44 observations. The data reached an all-time high of 1.550 % in Mar 2015 and a record low of -0.880 % in Sep 2017. Norway Bank Lending Survey: HO: Past 3 Months: CD: Fixed Rate Loans data remains active status in CEIC and is reported by Norges Bank. The data is categorized under Global Database’s Norway – Table NO.KB003: Bank Lending Survey.

Congo, The Democratic Republic of the CD: Deposit Interest Rate data was reported at 4.185 % pa in 2017. This records an increase from the previous number of 3.375 % pa for 2016. Congo, The Democratic Republic of the CD: Deposit Interest Rate data is updated yearly, averaging 7.719 % pa from Dec 2007 (Median) to 2017, with 11 observations. The data reached an all-time high of 16.773 % pa in 2010 and a record low of 3.375 % pa in 2016. Congo, The Democratic Republic of the CD: Deposit Interest Rate data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Democratic Republic of Congo – Table CD.World Bank.WDI: Interest Rates. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. The terms and conditions attached to these rates differ by country, however, limiting their comparability.; ; International Monetary Fund, International Financial Statistics and data files.; ;

Congo, The Democratic Republic of the CD: Official Exchange Rate: Average: per USD data was reported at 1,464.418 CDF/USD in 2017. This records an increase from the previous number of 1,010.303 CDF/USD for 2016. Congo, The Democratic Republic of the CD: Official Exchange Rate: Average: per USD data is updated yearly, averaging 0.000 CDF/USD from Dec 1960 (Median) to 2017, with 58 observations. The data reached an all-time high of 1,464.418 CDF/USD in 2017 and a record low of 0.000 CDF/USD in 1990. Congo, The Democratic Republic of the CD: Official Exchange Rate: Average: per USD data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Democratic Republic of Congo – Table CD.World Bank.WDI: Exchange Rates and Real Effective Exchange Rates. Official exchange rate refers to the exchange rate determined by national authorities or to the rate determined in the legally sanctioned exchange market. It is calculated as an annual average based on monthly averages (local currency units relative to the U.S. dollar).; ; International Monetary Fund, International Financial Statistics.; ;

Bank Lending Survey: NF: Past 3 Months: CD: Credit Utilisation Rate data was reported at 0.040 % in Mar 2018. This records an increase from the previous number of 0.000 % for Dec 2017. Bank Lending Survey: NF: Past 3 Months: CD: Credit Utilisation Rate data is updated quarterly, averaging 0.020 % from Dec 2007 (Median) to Mar 2018, with 42 observations. The data reached an all-time high of 0.650 % in Sep 2008 and a record low of -0.220 % in Sep 2013. Bank Lending Survey: NF: Past 3 Months: CD: Credit Utilisation Rate data remains active status in CEIC and is reported by Norges Bank. The data is categorized under Global Database’s Norway – Table NO.KB003: Bank Lending Survey.

Norway Bank Lending Survey: NF: Next 3 Months: CD: Credit Utilisation Rate data was reported at 0.000 % in Mar 2018. This stayed constant from the previous number of 0.000 % for Dec 2017. Norway Bank Lending Survey: NF: Next 3 Months: CD: Credit Utilisation Rate data is updated quarterly, averaging 0.025 % from Dec 2007 (Median) to Mar 2018, with 42 observations. The data reached an all-time high of 1.400 % in Sep 2008 and a record low of -0.010 % in Dec 2007. Norway Bank Lending Survey: NF: Next 3 Months: CD: Credit Utilisation Rate data remains active status in CEIC and is reported by Norges Bank. The data is categorized under Global Database’s Norway – Table NO.KB003: Bank Lending Survey.

Deposit Interest Rate in Russia decreased to 19.32 percent in April from 20.19 percent in March of 2025. This dataset includes a chart with historical data for Deposit Interest Rate in Russia.

Norway Bank Lending Survey: NF: Past 3 Months: CD: Fixed Rate Loans data was reported at 0.000 % in Sep 2018. This records a decrease from the previous number of 0.020 % for Jun 2018. Norway Bank Lending Survey: NF: Past 3 Months: CD: Fixed Rate Loans data is updated quarterly, averaging 0.000 % from Dec 2007 (Median) to Sep 2018, with 44 observations. The data reached an all-time high of 0.540 % in Sep 2011 and a record low of -0.410 % in Sep 2017. Norway Bank Lending Survey: NF: Past 3 Months: CD: Fixed Rate Loans data remains active status in CEIC and is reported by Norges Bank. The data is categorized under Global Database’s Norway – Table NO.KB003: Bank Lending Survey.

Deposit Interest Rate in Colombia decreased to 10.17 percent in 2024 from 13.21 percent in 2023. This dataset includes a chart with historical data for Deposit Interest Rate in Colombia.