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Do certificates of deposits accept additional deposits?

In: Certificates of Deposit [Edit categories]

Answer:

No. A Certificate of Deposit carries a fixed value. The value is decided at the time of opening a CD and once done; its base value does not change. Though the CD can earn an interest and the final maturity value might change, the amount that was initially deposited does not and will not change.

If you wish to make fresh deposits into a CD, it cannot be done. You can only open a fresh CD for the new amount that you wish to add into your existing CD.

First answer by Anandvijayakumar. Last edit by Anandvijayakumar. Contributor trust: 782 [recommend contributor ]. Question popularity: 1 [recommend question].

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