Slickdeals is community-supported.  We may get paid by brands for deals, including promoted items.
Sorry, this deal has expired. Get notified of deals like this in the future. Add Deal Alert for this Item
Frontpage

CIT Bank 13-Month CD, Earn Expired

4.65% APY*
($1,000 Minimum Deposit)
+32 Deal Score
257,311 Views
CIT Bank offers 4.55% > now $4.65% APY* on 13-Month CD with a minimum $1,000 Deposit.

Thanks to staff member LD7 for finding this deal.

Features:
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured
  • *See site for details
  • Deal Image
Deal Image
See Deal

Original Post

Written by
Edited November 14, 2022 at 12:37 PM by
CIT Bank, our partner, offers the following benefits with their 13-Month Term CD.
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured
  • See site for details
Slickdeals may be compensated by CIT Bank
Add Comment
Reply
in Finance CIT Bank
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.

Check Out Similar Finance Deals

View All
B&H: Save the Tax + Extra 5% Off Select Canon Items w/ B&H Payboo Credit Card + Free Expedited Shipping
1 2
Frontpage
$100 Uber eGift Card (Email Delivery) $85
$85
92 62
YMMV Amex offer - Shell Gas - Pump & App Earn 10% back on purchases, up to a total of $10$90
1 4
Chase Freedom Unlimited - $300 Sign Up Bonus (No AF)
2 3
[Amex Offer] Targeted offer: American Express Gift Cards Spend $300 or more, earn $20 back, up to 2 times (total of $40) $280
2 10
$799.95*: Breville Barista Touch Espresso Machine + 10% Back w/ Prime Visa Card at Amazon
5 2
Deal
Score +32
257,311 Views
4.65% APY*
See Deal

533 Comments

View Forum Thread

Your comment cannot be blank.

Featured Comments

The interest to be earned for $20k for this CD is approx. $920. Then you will need to deduct federal and state taxes from $920. Tax amounts depend on your tax brackets. For simplicity, let's use 25% for federal and 9% for state. So your final earned interest will be:


$920 - ($920 x (25% + 9%)) = $607.2

You can use above example to plug in your real tax bracket percentages to get your own number. It's a bit difficult to show the calculation of interest on here but you can find interest calculator on web.
·
I think by February-March next year we may see peak in interest rates being offered by banks. I would not advise to lock money for long term yet.
·
I don't have a dog in the race here but out of curiosity I checked the website at the OP's link:
·

Sign up for a Slickdeals account to remove this ad.

Joined Jan 2015
peeing outdoors
> bubble2 2,054 Posts
963 Reputation
khronos
11-06-2022 at 09:42 PM.
11-06-2022 at 09:42 PM.
andrews federal credit union

5%, 7 months
Reply

This comment has been rated as unhelpful by Slickdeals users

Show Comment
HIDDENfamewolf11-06-2022 at 10:26 PM.

This comment has been rated as unhelpful by Slickdeals users

Show Comment
HIDDENCTRFK811-07-2022 at 01:57 AM.
Joined Jul 2009
L6: Expert
> bubble2 1,545 Posts
293 Reputation
Rawimpact
11-07-2022 at 04:50 AM.
11-07-2022 at 04:50 AM.
Quote from CTRFK8 :
One can easily make 5 % in a month if you know how to time the stock market
Yeah because that's how all the rich make their money.

It's all in the timing or so my wife says
8
1
Reply
Joined Jan 2007
♪♫ Pickin' Bluegrass ♫♪
> bubble2 22,257 Posts
3,873 Reputation
Pro
BluegrassPicker
11-07-2022 at 01:12 PM.
11-07-2022 at 01:12 PM.
4% CD @ Capital one for 1 year
4
Reply
Joined Nov 2016
New User
> bubble2 2,309 Posts
232 Reputation
Tbl5143
11-09-2022 at 05:37 PM.

Our community has rated this post as helpful. If you agree, why not thank Tbl5143

11-09-2022 at 05:37 PM.
Quote from SilentJudge :
CIT is FDIC insured. $250K individual or $500K for joint.

All good but technically the FDIC has no time limit to reimburse you. "As soon as possible" might be a while in a major crash, although at that point we probably have bigger worries.
1
5
Reply
Joined Nov 2010
L8: Grand Teacher
> bubble2 3,463 Posts
1,899 Reputation
aznboicn
11-09-2022 at 05:40 PM.
11-09-2022 at 05:40 PM.
Quote from xxx000xxx :
risk here is the bank/financial institution itself... if something goes wrong you'll lose money lent to them and insured up to $100K only...

an alternative is to buy bills/notes directly w/ treasury. few bps lower but eliminates risk of lending to financial institution since govt can just print money for you.
I looked at bills on fidelity, but GUI isn't easy to understand. Would you have a reference on how to buy bills? I see options to buy/sell, but definitely confusing.

Thanks
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Jun 2010
L3: Novice
> bubble2 237 Posts
14 Reputation
frank75fl
11-09-2022 at 05:49 PM.
11-09-2022 at 05:49 PM.
Quote from khronos :
andrews federal credit union

5%, 7 months
Oh man, thought I could just join but not eligible Frown
Reply
Joined Oct 2014
L2: Beginner
> bubble2 65 Posts
10 Reputation
ILC2
11-09-2022 at 05:58 PM.

Our community has rated this post as helpful. If you agree, why not thank ILC2

11-09-2022 at 05:58 PM.
Treasury bill yields as of 11/9/22:
3m : 4.15%
6m : 4.56%
1y : 4.68%

Advantages:
1) can bid direct on treasurydirect.gov at auction (avoid broker and banks / fees when buying and holding to maturity).
2) marketable by transferring to a broker dealer and selling it in the open market (relatively tight bid/offer and penalty is based of the market yield at the time vs CDs where you pay penalties)
3) EXEMPT AT THE STATE AND LOCAL TAX LEVEL!

For those of us in high tax states like NY it can mean you save 12% in tax on your interest.
1
Reply
Joined Feb 2006
L9: Master
> bubble2 4,489 Posts
871 Reputation
Slickdeezee
11-09-2022 at 06:09 PM.
11-09-2022 at 06:09 PM.
Quote from ILC2 :
Treasury bill yields as of 11/9/22:
3m : 4.15%
6m : 4.56%
1y : 4.68%

Advantages:
1) can bid direct on treasurydirect.gov at auction (avoid broker and banks / fees when buying and holding to maturity).
I really hate the treasurydirect site, feels like I traveled back in time. Is it possible to buy new issue t-bills directly through some stock brokers? Which ones? I have TDAmeritrade and Merrill Edge.
Reply
Joined Oct 2014
L5: Journeyman
> bubble2 617 Posts
138 Reputation
caymera
11-09-2022 at 06:27 PM.
11-09-2022 at 06:27 PM.
Quote from Gergor :
CIT doesn't seem to allow the account titled to a trust. In fact, it looks like very few online banks allow that. I am missing out on good rates because of this.
Vanguard Organization Account brokerage maybe?
Reply
Joined Oct 2014
L5: Journeyman
> bubble2 617 Posts
138 Reputation
caymera
11-09-2022 at 06:31 PM.

Our community has rated this post as helpful. If you agree, why not thank caymera

11-09-2022 at 06:31 PM.
Quote from Slickdeezee :
I really hate the treasurydirect site, feels like I traveled back in time. Is it possible to buy new issue t-bills directly through some stock brokers? Which ones? I have TDAmeritrade and Merrill Edge.
Go to TD's Trade > Bonds & CDs > Look for US Treasuries and then click on term you want 0-1yrs and go from there
1
Reply
Joined Sep 2010
L5: Journeyman
> bubble2 500 Posts
48 Reputation
aboss3
11-09-2022 at 06:35 PM.
11-09-2022 at 06:35 PM.
CIT is a great bank to do business with. Great rates on savings also. They do gear towards wealthier clientele with their service offerings. Customer service is always there to assist, and they are FDIC insured.
2
Reply
Joined Oct 2014
L5: Journeyman
> bubble2 617 Posts
138 Reputation
caymera
11-09-2022 at 06:37 PM.
11-09-2022 at 06:37 PM.
Quote from aznboicn :
I looked at bills on fidelity, but GUI isn't easy to understand. Would you have a reference on how to buy bills? I see options to buy/sell, but definitely confusing.

Thanks
Search on Youtube, lots of videos
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Feb 2006
L9: Master
> bubble2 4,489 Posts
871 Reputation
Slickdeezee
11-09-2022 at 06:52 PM.
11-09-2022 at 06:52 PM.
Quote from caymera :
Go to TD's Trade > Bonds & CDs > Look for US Treasuries and then click on term you want 0-1yrs and go from there

Is that considered secondary market?
Reply
Page 2 of 36
Start the Conversation
 
Link Copied

The link has been copied to the clipboard.