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CIT Bank- 1 Year CD- 2.50% APY

+23 Deal Score
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CIT Bank 1-Year CD has a 2.50% APY*

$1,000 minimum opening deposit
  • Earn over 6x the national average**
  • No monthly service fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured

*Annual Percentage Yield is accurate as of June 28, 2018.
**Based on comparison to the national average Annual Percentage Yield (APY) on non-jumbo 1-year CD as published in the FDIC Weekly National Rates and Rate Caps, accurate as of June 28, 2018.
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Created 07-05-2018 at 09:20 AM by munzdeals92
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This comment has been rated as unhelpful by Slickdeals users
Joined Dec 2015
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#2
Never heard of CIT, anyone have experience with them?
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#3
pentagon credit union, penfed offers 2.35 for one year MM
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#4
Marcus by Goldman Sachs is giving me 1.80% for their regular online savings account — no fees, no minimums...

I would rather sacrifice the 0.70% delta from CIT to be able to move my money freely for the year and not be locked in for an entire year.
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#5
CD rate is on the rise. It's best to build CD ladders than to commit a big balance to one.
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#6
Quote from juni0
:
Never heard of CIT, anyone have experience with them?
They are an online bank, have a money market account with the interest rate of 1.85 i have been receiving the interest like clockwork end of every month, never used them for banking just keeping cash
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#7
Quote from jlowey
:
Marcus by Goldman Sachs is giving me 1.80% for their regular online savings account — no fees, no minimums...

I would rather sacrifice the 0.70% delta from CIT to be able to move my money freely for the year and not be locked in for an entire year.
I also have Marcus savings account. Been their customer since before the bank was acquired from GE.
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#8
seems like FDIC insured so should be ok
https://www.bankrate.com/landing/cd-rates/
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#9
Quote from joelf15
:
They are an online bank, have a money market account with the interest rate of 1.85 i have been receiving the interest like clockwork end of every month, never used them for banking just keeping cash
If I put 100,000 into the account with the 1.85% rate, does that mean I get back $1850 every month or that's what it would be close to at the end of the year? I.e. Approx $154 every month
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#10
Quote from jmkaylor
:
If I put 100,000 into the account with the 1.85% rate, does that mean I get back $1850 every month or that's what it would be close to at the end of the year? I.e. Approx $154 every month
154 every month
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#11
Quote from jmkaylor
:
If I put 100,000 into the account with the 1.85% rate, does that mean I get back $1850 every month or that's what it would be close to at the end of the year? I.e. Approx $154 every month
It's annually..with monthly payments. You are free to move hit money around and not stuck
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#12
Quote from jmkaylor
:
If I put 100,000 into the account with the 1.85% rate, does that mean I get back $1850 every month or that's what it would be close to at the end of the year? I.e. Approx $154 every month
End of year
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#13
It's been a while for these rates at Bankrate:

Merrick Bank , MEMBER FDIC
2.55% as of: Thu Jul 5
1yr
Minimum Deposit: $25,000

CIT Bank, MEMBER FDIC
2.50% as of: Thu Jul 5
1yr
Minimum Deposit $ 1,000

ableBanking, a division of Northeast Bank , MEMBER FDIC
2.50% as of: Thu Jul 5
1yr
Minimum Deposit $ 1,000

Live Oak Bank, MEMBER FDIC
2.50% as of: Thu Jul 5
1yr
Minimum Deposit $ 2,500

Connexus Credit Union,FEDERALLY INSURED BY NCUA

2.50% as of: Thu Jul 5
1yr
Minimum Deposit $ 5,000
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#14
I have a money market with them also. Pay at the end of the month, no issues. FDIC insured. Pretty easy set up and funding process.
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#15
Their customer service is poor.
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