Add-On Certificate of Deposit

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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.
References in periodicals archive ?
Liverpool are now braced for a firm offer, which could arrive as early as this weekend, and indications from the Catalan capital suggest that it could reach around a PS100m base price with PS40m in add ons.