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What is Add-On Certificate of Deposit?

Posted in Glossary by Johns Wu
January 8, 2008 12:25 AM - 0 Comments

Add-On Certificate of Deposit

A special (CD) certificate of deposit account allowing the bearer to place more funds to his account after the initial purchase date. The added funds should bear the same interest rates as the initial funds. This certificate gives the investor the advantage to guarantee a minimum interest rate even if interest rates decline in the market. Typically, financial institution require that the use of add-in certificate of deposit requires a minimum dollar amount. This amount is usually placed at $500.

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