Invest a CIT Bank 13-Month CD in Your Goals

Online bank CIT Bank provides business and commercial banking products in addition to a basic range of consumer banking facilities. Aside from CDs, consumer products include money market accounts, home loans, savings accounts, and checking accounts with interest. Digital access to accounts is available around the clock. One of the top 50 U.S. banks, First Citizens BancShares Inc., includes CIT Bank.

With a 13-month CD's fixed rate, it's a wonderful method to meet your savings objectives.

  • Compound interest every day to increase your earning potential
  • No account opening or maintenance fees
  • FDIC insured
  • Set up and manage your beneficiaries online or through the mobile app
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CIT Bank CD Rates

6 Mo. APY

1 Yr. APY

13 Mo. APY

1.5 Yr. APY

2 Yr. APY

3 Yr. APY

4 Yr. APY

5 Yr. APY

3.00%

0.30%

3.50%

3.00%

0.40%

0.40%

0.50%

0.50%

An Overview of Current CD Rates at CIT Bank

The CIT Bank No Penalty CD is the best account choice offered by the bank. It has no early withdrawal penalty and pays a competitive interest rate. The rates for CIT Bank Term CDs change according to the term you select. The interest rates paid on the 1-year, 2-year, 3-year, 4-year, and 5-year durations are less than those of the typical CD. But the yields on the bank's other Term CDs are far more appealing.

Checking account details

Checking account fees

  • Monthly Fee
    $0
  • APY
    3.50%
  • Minimum Deposit to Open
    $1.000
  • Out-of-Network ATM Transaction Fee
    $0
  • Out-of-Network ATM Withdrawal Fee
    $0
  • Overdraft Fee
    $0
  • Non-Sufficient Funds Fee
    $0
  • Foreign Transaction Fee
    $0

Invest a CIT Bank 13-Month CD in Your Goals FAQ

1. Is Opening a CIT CD Account Necessary?

If you're looking at CD options with different rates, terms, and advantages, you should acquire a CD account. With certain CDs, increasing your investment can also result in increased interest rates. Furthermore, CIT Bank's short-term CDs provide competitive rates when compared to other banks' offerings.

2. Are CD Rates at CIT Bank Competitive?

Some of the finest maximum CD rates available are offered by CIT Bank. However, the CD term that interests you will determine if they are the ideal option for you. The six--, thirteen--, and eighteen-month CD maturities offered by CIT Bank provide significant annual percentage yields. But CIT Bank is far less competitive for its one-, two-, three-, four-, and five-year CD periods.

3. For Whom is a CIT Bank CD Suitable?

Saver who wants to lock in a high APY with a no-penalty CD that permits early withdrawals if necessary, or who wants to open a CD in one of the bank's term lengths with high APYs (six, thirteen, or eighteen months), may find that CIT Bank CDs are a wonderful option.

4. Are There Any Branches of CIT Bank?

Customers of CIT Bank are not able to access physical branches or ATMs, even though it is owned by First Citizens Bank, which has a sizable branch network. The purpose of CIT is to be an online-only bank.

5. Are CDs From CIT Bank Safe?

CDs from CIT Bank are safe, yes. Because the bank is an FDIC member, each individual's account is covered up to a maximum of $250,000. Furthermore, it's critical to understand that CIT Bank is First Citizens Bank's online business, one of the biggest and most venerable established banks in the country.

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Check Out Other Products From CIT Bank
Bank Monthly Service Charge Minimum Deposit to Open APY
CIT Savings Builder Account 0 $100 1.00% APY
CIT Bank CDs 0 $1000 4.90% APY
CIT Bank eChecking Account $0 $100 0.10% - 0.25% APY
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