Skip to content


Step Up your CD, if Rates Go Up

Step Up CDAmerican Federal introduces a special Certificate of Deposit.

The “Step Up CD” gives you an opportunity to request a better rate one time during the initial term of this 37-month CD. No more worry you will miss out on interest earnings, if rates go up during the term of the CD.

The Step Up CD works like this: when you request to step up your 37-month CD, the new rate will be equal to the then-current rate applicable to a regular 36-month CD. The adjusted rate will be applied to interest accrual from the adjustment date to the renewal date. At renewal, the CD will renew into the then current 36-month-term CD with no additional rate adjustments permitted during the subsequent renewal periods.

You can open a Step Up CD with $1,000.  When you maintain this amount as a daily minimum balance, you earn the disclosed annual percentage yield (APY).


Why a Step Up CD?

A Step Up CD is a safe and affordable component of an investment strategy. It’s a good way to build savings for a goal (like upcoming projects or purchases, tuition or retirement) and keep your peace of mind.

There are no monthly or annual fees to open or to maintain a Step Up CD, although a penalty may apply for withdrawal of any or all of the principal before maturity.

Best of all, the Step Up CD is insured up to the maximum allowable limits permitted by law. You can enjoy financial security knowing FDIC-insured deposits are guaranteed safe to maturity by the full faith and credit of the United States government.

American Federal offers the convenience and choice of automatically reinvesting the earned interest on a Step Up CD or depositing the interest into a savings or checking account. American Federal CDs are automatically renewable so there is no worry about funds sitting idle.

With a fixed rate for a fixed time period, coupled with a one-time chance to bump up the rate, along with the protection of FDIC insurance, the Step Up CD is a low-risk investment. And, it’s a great diversification solution to consider as part of your overall investment strategy.

Add liquidity by laddering your CDs to stagger the maturity dates so you always have access to some of your money. CD laddering spreads your money across a range of CDs with different terms and fixed interest rates.

Contact your local American Federal Banker to learn more.


All other terms and conditions of the Step Up CD are like a regular CD.

See American Federal CD Truth in Savings Disclosure for details.

Contact A Banker Today!