Liquidity is a fundamental concept in the financial industry and is generally understood as the ability to buy or sell an asset quickly, at a reasonable price, without causing a significant change in its market price.
Instruments mentioned in this section are considered liquid and that a consumer can get their hands on without incurring material losses.
Funds in any interest or non-interest bearing accounts.
Higher yielding accounts held in a bank, credit union, thrift or other financial institution.
Cash on hand.
Savings on hand.
A penalty may be incurred or interest earned forgiven for early withdrawal prior to term expiration.
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