Difference between revisions of "What Does it Mean if an Investment is Step Up Eligible?"

From Documentation
Jump to navigation Jump to search
Line 20: Line 20:
  
 
[[File:Invest Cat Maint Step Up.png]]
 
[[File:Invest Cat Maint Step Up.png]]
 +
 +
The Step-Up count field allows you to set how many times an investor can Step-up their rate in the given time of the note, i.e., 1 time for a 12-month note, or 2 times for a 2-year note, etc.
  
  
 
[[Category:Investments FAQs]]
 
[[Category:Investments FAQs]]

Revision as of 15:11, 23 November 2022

There is a field on my Investment Inquiry that says Step Up eligible. What does that mean?

If an investment shows as step up eligible, it means that the category it belongs to has been configured to be eligible for "step up". That means that investors can increase their interest rate over time. The step up function finds the current offering listed on the investment category, takes the current rate and makes it the investment rate on the investment.


In order to properly utilize the step up functionality, the high/low interest rate range on all investment types under a step up eligible category must be continuously modified.


When the investment matures, the step up fields are automatically reset.

To perform the Step Up function:


  • From the DDI Connect main menu, double-click Financial Services
  • Double-click Investments
  • Double-click Setup
  • Double-click Investment Category Maintenance You will see this screen:


Invest Cat Maint Step Up.png

The Step-Up count field allows you to set how many times an investor can Step-up their rate in the given time of the note, i.e., 1 time for a 12-month note, or 2 times for a 2-year note, etc.