add-on


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Add-On Certificate of Deposit

Money deposited into a certificate of deposit after the initial deposit. Suppose one places $1,000 in a certificate of deposit and places a further $500 into the same account later. One refers to the $500 as an add-on. Only some financial institutions allow add-on certificates of deposit because they receive the same interest rate as the previous deposit, a fact that would be disadvantageous to the financial institution when interest rates are declining.

add-on

Funds that are added to a certificate of deposit after its date of purchase and that earn the same rate of interest as funds deposited with the original certificate. The add-ons allowed by some savings institutions provide a real benefit to investors during periods of declining interest rates.
References in periodicals archive ?
The complete Challenge 2000 solution includes the MVS Application Express Offloader, Revolve, Revolve Year 2000 Add-On, Micro Focus COBOL, Micro Focus Workbench, TransCentury Calendar Routines and consulting services.
The Revolve Year 2000 Add-On extends the base Revolve product's performance and analysis capabilities and provides features that target the specific requirements of Year 2000 analysis and implementation, allowing users to specify criteria for identifying dates requiring modification across an entire system.