CIT Bank CD Rates: 12 Month Achiever CD Rates at 1.14%

CIT Bank which is a new online bank recently launched by CIT Group is offering some of the best CD rates available right now for a 12 month certificate of deposit. If you don't own a small business you probably haven't heard of CIT Group which provides financing to small and medium sizes business. 

CIT Bank was recently launched with a splash and the new online bank is getting a lot of coverage in the news since their CD rates are some of the highest CD rates available today.

CIT Banks CD rates on 12 month Achiever CDs are currently at at 1.14% with a bank CD yield of 1.15%. That rate is one of the highest CD rates at banks available on a 12 month CD. The minimum opening deposit for this CD is rather high at $25,000.

Tip: Use a CD calculator to figure out your investment return before making an investment.

CIT Bank's Achiever CD has a few features that is different from most other CDs. With the Achiever CD you are allowed to raise the CD rate once during the term (if bank CD rates go higher) and you’re also able to add more funds to the Achiever CD once during the term.

If you don't have $25,000 to invest in a CD, CIT Bank is also offering regular CD accounts that have a minimum opening balance of only $1,000. CIT Bank's CD rates on regular CDs are also higher than most rates available.

CD Rates CIT Bank

  • 6 Month CD Rates 0.45% APY 0.45%
  • 1 Year CD Rates 1.12% APY 1.13%
  • 2 Year Rates 1.29% APY 1.30%
  • 3 Year Rates 1.53% APY 1.54%

CIT Bank is also offering jumbo CDs that have CD rates are higher than the bank’s regular CD rates. CIT Bank 2 year jumbo CD rates are at 1.31% with an APY 1.32% and 3 year jumbo CD rates are 1.55% with an APY of 1.56%.

Update: CIT Bank CD Rates on 12 month Achiever CDs were recently lowered to 1.09 percent with an APY of 1.10 percent. Even with the reduction in the interest rate the CIT Achiever CD rate is still one of the top rates around at any bank.

Author: Jason P. Jones
October 25th, 2011