12-Month Step Up CD2
Take Advantage of 0.61% APY*
When you work hard for your money, there's nothing more rewarding than making your money work hard for you. Not only does this 12-month CD special from SouthEast Bank earn a very competitive interest rate of 0.61% APY*, but if rates increase, you'll have the option to "step up" your CD interest rate once during your 12-month term. Minimum opening deposit of $1,000.
*APY=Annual Percentage Yield.
2 The interest rate for the 12-month Step-Up CD account is 0.61%, with a corresponding APY of 0.61%. The APY assumes interest remains on deposit until maturity. Any withdrawal of principal or interest during the term of the account will reduce earnings. Interest for the account will be compounded quarterly and credited by ACH on the last day of each quarter. Interest begins to accrue on the business day of deposit of any noncash item (for example, checks). Rate Step Up Feature: During the initial term of the Account – Customer will have one (1) opportunity to increase their rate for the remainder of the initial term (“Rate Step Up”) to the rate then offered by the Bank for certificates of deposit having the same term as the Account. The Rate Step Up will not apply to any renewal of the Account. To exercise the Rate Step Up, the customer must contact a SouthEast Bank branch or call the Customer Care Center at 844-732-2657. The Rate Step Up will apply from the date of contact through the end of the initial term of the Account. It will not be applied retroactively. If the Account has more than one owner, any owner may contact the Bank to exercise the Rate Step Up. Penalty for early withdrawal. Limited time offer. Rates effective 11/06/2020.