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1.30% APY – CIT Increases 1 Year CD Rate, Now Tied for Top 1 Year Rate

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About two weeks ago, CIT Bank increased their 2 year CD rate. This week CIT Bank increased their 1 year CD rate. The new 1 year rate is at 1.29 percent with an APY of 1.30 percent. The old rate was 5 basis points lower at 1.24 percent with an APY of 1.25 percent. CIT Bank is also offering the same rate and yield on the bank's 1 year IRA CD.

CIT Bank is now tied with E-Loan for the best 1 year CD rate in our database. It will be interesting to see if Synchrony Bank increases their 1 year rate in the coming week. Synchrony Bank, along with CIT Bank, usually offer the highest 1 year rate.

You can search for and compare CD rates for all certificate of deposit terms by using the rate table at Monitor Bank Rates.
Author: Brian McKay
September 23rd, 2015