Has anyone from DA forum any experience/insight/anecdote concerning the CD feature termed Step Up? How do they work (if/when they work)?? Has anyone ever had a success outcome using one of these? Anyone ever had a neutral experience (where the feature never became relevant due to non-rising rate levels)? My impression is that they are a fairly useless feature in both rising and falling rate scenarios as in falling rate climates they never actualize. In rising rate environments how much/many more additional basis points would trigger your CD to be advantaged by this occurrence? Perhaps I misunderstand how they are intended to function (ever to the benefit of CD holder/investor) as they seem more like an artificial mechanism appearing to give advantage to holder but with very low to no odds that they could actually materialize (somewhat like lottery tickets). Would love to learn/hear more about this feature from knowledgeable others. Thank you in advance for any contributions.
The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.