A CD (Certificate of Deposit) account is a type of savings account you can open at the bank. When you open a CD account you agree to leave your money in the bank for a specified time period. Unlike a traditional savings account which allows you to access your money immediately upon deposit, a CD will hold your money until the maturity date (the date you agreed to leave it in the bank until). In exchange for forfeiting access to your money for some time, the bank will offer you a higher interest rate than that of a traditional savings account.
If you are certain, you will not be needing your money, this might be a good option to earn more interest that you would in a regular savings account. CD’s are pretty common and can be found at most banks and credit unions.