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.
Adeptol Translation Add-On supports more than 40 languages, works for more than 200 document formats, requires no downloads or plug-ins and it comes with an API set to connect to Google Translate, Yahoo!
West Brom's bid for Long is reckoned to be just pounds 3m while West Ham offered pounds 5m plus add-on's.