Adding money to a CD will not increase the interest rate. The interest rate on a CD is a set amount and will not change no matter how much money is added to the CD.

Can you add money to an existing CD?

A certificate of deposit, or CD, is a type of savings account offered by banks and credit unions. A CD usually has a fixed interest rate and a fixed maturity date. When you open a CD, you agree to leave the money in the account for a specific period of time, usually six months or a year.…