Minimum maturity period of Certificate of Deposit

What is the minimum maturity period of Certificate of Deposit (CD) issued by banks?
[A]7 days
[B]14 days
[C]91 days
[D]182 days

7 days
The maturity period of Certificates of Deposit (CDs) issued by banks should not be less than 7 days and not more than one year, from the date of issue. The CDs are negotiable money market instrument and issued in dematerialised form or as a Usance Promissory Note against funds deposited at a bank or other eligible financial institution for a specified time period.

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