Answer: A. Depositors must keep their money in the account for a fixed period of time.
Explanation:
A certificate of deposit (CD) is known to be a short term security which does not allow depositors to withdraw money from the account on demand. In other word, depositors are not permitted to withdraw until the maturity date. Thus, it has a high interest rate.
A passbook savings account is a saving account in which the account holder uses a paper book for transaction in the banking hall.
