I would not set it up as a bank account.  I would set up an account in General Ledger as an Asset, something like "CD Investment-Name of Bank" and track it's interest as you said.  Once it's cashed out, you would put it into whatever bank account to which it is sent. 

I would not set it up as a bank account.  I would set up an account in General Ledger as an Asset, something like "CD Investment-Name of Bank" and track it's interest as you said.  Once it's cashed out, you would put it into whatever bank account to which it is sent. 

Thank you so much!