How are CDs classified?

Certificates of Deposit (CDs) are classified based on several criteria, including maturity period, interest rate type, and liquidity. Maturity periods can range from short-term (a few months) to long-term (several years). Interest rates can be fixed or variable, and liquidity can vary, with some CDs allowing early withdrawal with penalties, while others may be more flexible. Additionally, CDs can be categorized into traditional, jumbo, and brokered CDs based on their deposit amounts and where they are purchased.