2 min read
Definition
A stepped rate is scheduled to change at defined points — for example a lower rate for the first year, stepping up thereafter. Unlike a tracker, the changes are fixed in advance rather than driven by a benchmark. It offers certainty with a built-in profile.
In plain terms
You know exactly when and by how much the rate will change, because it is written in — no surprises from the market, but the steps still lift the cost.
Why it matters for your company
Check the step schedule and factor the later, higher rates into the total cost. See total amount payable.
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Credicorp lends to your company, not to you personally — short-term working capital with no personal guarantee. See what your business could access.