[header] How to purchase a certificate of deposit [title] Decide what type of cd you want to buy. [step] Although they may seem confusing, the different types of cds all work the same way. You will invest your funds for a period of time and get a guaranteed return. 
There are six types of cds available : [substeps] A traditional cd lasts for a set period of time and offers a set interest rate. A bump-up cd allows the investor one request for an interest rate increase if rates go up.