One rare CD feature would tip 77% of savers toward locking in
In a unanimous vote in mid-September, the Fed raised the target range for federal funds to 3.75%-4%, a quarter of a percentage point from what it was.
Five months earlier, back in April, when the Fed rates were steady, Credit One Bank asked 1,000 U.S. consumers what they wanted in terms of savings products, namely certificates of deposit. Only 9% said they would regret or feel frustrated locking in if rates fell. Yet over three-quarters (77%) of respondents said they would be more likely to open a CD if it had a one-time rate-bump feature. It seems that savers are more worried about missing a rate increase than locking in before a drop. That scenario is real, and it just happened.
Commitment Looks Like Protection
When asked if a one-time rate bump would make savers more likely to open a CD, the majority of respondents responded positively. Twenty-eight percent said the feature would make them much more likely to open a CD while another 49% said they would be somewhat more likely. Less than 3% said it would make them less likely, and 20% said it wouldn’t change anything.
The interest is there, but the survey doesn’t actually show if people are signing up for these accounts. What’s stopping them?
Most Would Pick Shorter Terms
Although most said “more likely” to a rate-bump feature, it seems that respondents are still uneasy about long-term lock-ins.
Nearly 4 in 10 (38%) of respondents said they would prefer a nine- to 12-month term, while 28% would choose 18 to 24 months. Only 4% would choose a long-term product, which in this case is four to five years.
Both features (rate-bump and short terms) offset the risk of being locked into an unappealing CD rate, and survey respondents seem to want both.
Better Rate vs. a Quick Exit
The survey then asked which mattered more, a higher rate or a penalty-free exit. Four in 10 stated that a higher rate and the ability to exit mattered equally. More than a third (37%) said a higher rate was more important, and nearly a quarter (22%) said the flexible exit was what mattered most.
While there are no-penalty options, these likely offer a lower APY than standard locked CDs. So early exits exist, and higher rates exist, but not normally at the same time.
The Deposit Gap Differs Between Genders
When asked about the first deposit, the answers varied by gender: 44% of women said a deposit under $5,000 would feel realistic, compared to 32% of men. At the higher end, 26% of men said $25,000 or more feels realistic, compared to 16% of women.
This question measures what respondents feel is realistic, not actual account balances. And the survey makes it clear respondents feel that lower deposits are more realistic.
Nearly 8 in 10 respondents say a first deposit under $25,000 feels realistic, with just 2% saying the same for a deposit of over $100,000. Additionally, 3 in 10 said starting with a small amount to test the CD would make the product feel safe.
The Fed’s projections point to another possible hike this year with a meeting scheduled for Oct. 28.
Methodology
This survey was commissioned by Credit One Bank via Pollfish in April 2026. The 1,000 participants answered questions about CD ownership, terms, and products, and the sample leaned toward people who are familiar with CDs. No margin of error or weighting was reported, and all responses are stated intentions and hypotheticals, not accounting for behavior.
This story was produced by Credit One Bank and reviewed and distributed by Stacker.
