CIT Bank CD Rates: Act Now to Lock in a High Rate Before Rates Decline!

Are you on the hunt for a sound, smart, and profitable investment? Look no further, CIT Bank is the answer you've been searching for! With some of the highest short-term CD rates available online, CIT Bank CDs are some of the best deals around. 6-month CD Rates are currently at a whopping 5.00%, that rate is higher than most 12-month CD rates available. 13-month CD rates are also a good deal at 4.65% APY. The time is now to lock in a high CD rate because CD rates are expected to decline later this year.

The current rates for a 6-month, 13-month, and 18-month CD are not the only good deals at CIT Bank. If you're looking for a wider range, CIT Bank offers eight standard certificate of deposit terms, ranging from six months to five years.

What truly sets CIT Bank apart are the four distinct types of CDs it provides - Term CDs, Jumbo CDs, No Penalty 11-month CD, and RampUp CDs. Each of these CD options comes with its unique benefits, meeting the diverse needs of every CD investor.

CIT Bank Term CD Rates

  • 6-Month 5.00%
  • 13-Month 4.65%
  • 18-Month 4.60%
  • 5-Year 0.50%
  • 4-Year 0.50%
  • 3-Year 0.40%
  • 2-Year 0.40%
  • 1-Year 0.30%
  • The Term CDs, requiring a minimum deposit of $1,000, come in terms ranging from six months to five years, with interest compounded daily and credited monthly. Even their Jumbo CDs, with a higher minimum deposit of $100,000, follow the same compounding pattern, though the jumbo CD rates are nowhere near the short-term CD rates..

    Jumbo CD Rates at CIT Bank

  • 2-Year 0.40%
  • 3-Year 0.40%
  • 4-Year 0.50%
  • 5-Year 0.50%
  • For those wary of penalties, CIT Bank offers an 11-month No Penalty CD. Customers can withdraw their full balance and interest earned without any penalty, seven days after the funds have been received.

    CIT Bank No Penalty CD Rate

  • 11-Month 4.90%
  • CIT Bank RampUp CD Rates

  • 1-Year 0.25%
  • 2-Year 0.25%
  • 3-Year 0.25%
  • 4-Year 0.25%
  • The minimum opening deposit for a RampUp CD account is $25,000.

    Now, let's take a moment to compare CIT Bank's CD rates. While it's true that their long-term CD rates might not be the highest compared to some online banks, their short-term CD rates are undeniably competitive. What's more, they considerably outpace the rates offered by larger national banks with physical branches.

    Before you make a move, remember this crucial fact - early withdrawal penalties at CIT Bank are high. As such, ensure you're comfortable with the terms and are prepared to let your money grow without interference.

    Apart from CDs, CIT Bank presents a suite of other consumer-side products such as home loans, savings, money market, and interest-bearing checking accounts. Plus, they offer commercial and business banking solutions, all accessible digitally, 24 hours a day. As a part of First Citizens BancShares Inc., a top 50 U.S. bank, the credibility and reliability of CIT Bank are beyond question.

    In a nutshell, CIT Bank's CDs are an investment you don't want to miss out on. With their competitive short-term CD rates and a variety of options to suit every investor's needs, they are indeed a strong contender in the online banking space. Make your move today, open a CIT Bank certificate of deposit, and watch your money grow exponentially. Remember, the high CD rates are not here to stay, so act now and maximize your returns while you still can!

    Author: Brian McKay
    May 17th, 2023