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 ?
Demag says its Multi-Plug add-on injectors are designed primarily for molders who want to try out multi-injection molding or want the flexibility an add-on offers.
Collavate Add-on also supports the Tag function which allow users to easily classify and retrieve documents.
The Google Docs add-on integrates Flow's document management tools during writing sessions.
5 two-line BBS/server software through a two-tier distribution channel, while the clients, or add-on features such as the Internet Connectivity Pack (wcICP), are sold directly via Mustang's value-added resellers (VARs) and certified system integrators.