treasury savings certificate

noun

Definition of treasury savings certificate

: a registered nontransferable certificate of the U.S. government issued between 1921 and 1924 in denominations of $25, $100, and $1000 maturity value five years from date of issue with the interest rate being about 4¹/₂ percent per annum compounded semiannually if held to maturity

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“Treasury savings certificate.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/treasury%20savings%20certificate. Accessed 17 Sep. 2021.

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