Issued by money-centered financial firms, these short - or medium-term insured debt instruments pay higher interest than a regular savings account. They are low-risk instruments and have low returns.

Certificates of deposit.

Explanation:

Certificates of deposit are also called time deposits, they have a fixed tenure and pay interest above the normal saving a account rate.

The rates can be fixed or negotiable. Larger deposits attracts higher interest rates, also longer term deposits have higher returns.