I have never been a morning person. When the alarm on my trusty clock radio sounds, I usually hit the snooze button and listen to the news for a bit before I get out of bed to face the day. While lingering under the covers recently, I heard an advertisement that made me smile.

One of our local banks in the New York area was peddling a product called a “bump-up” certificate of deposit. These CDs typically offer savers a fixed return for a defined period that can be increased one time if interest rates keep heading higher.

I liked what I heard, and not because I’m necessarily a bump-up proponent. Consumers choosing these products can expect to sacrifice a little yield at the start for a chance to earn more later. What I found encouraging was that someone in finance was finally competing for people’s cash.