A market index linked CD (MILC) is a combination of a CD and a stock-market investment. These instruments seek to add the possibility of great returns to the security of CDs. They do this by pegging the interest rate paid by the CD to the performance of some stock-market index (i.e., they are linked to
What is a Certificate of Deposit (CD)? A Certificate of Deposit (CD) is financial instrument purchased from a bank or savings & loan for some amount of money that requires the bank to pay you a fixed interest rate on that money for a fixed term. For example, you might buy a 30-month CD paying