A bank certificate is not a commonly used term in banking. However, there is a financial product called a certificate of deposit (CD) that is offered by banks and credit unions. A CD is a type of savings account where you agree to keep your money deposited for a fixed period of time, such as one year, in exchange for a higher interest rate than a regular savings account. The interest rate is fixed for the duration of the CD, and you cannot withdraw the money before the term ends without paying a penalty. CDs are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000 per depositor, per bank. CDs can be opened online or in person at a bank or credit union, and they are available in a variety of terms and interest rates.