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CIT Bank 13-Month CD, Earn Expired
4.65% APY*
($1,000 Minimum Deposit)
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:
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
Original Post
Written by
Edited November 14, 2022
at 12:37 PM
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
in
Finance
CIT Bank
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$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.
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Our community has rated this post as helpful. If you agree, why not thank stormer0115
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.
take a look at 2008, today banks are in much better shape.
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Thanks
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Why buy new issue? Secondary has better yield to worst?
take a look at 2008, today banks are in much better shape.
Still potential liquidity risk. There is no immediate timeline to recoup the money from a failed credit union.
Not saying CIT will fold, but am saying for some, risk needs to price in more than just loss of principle.
But honestly you should not care about it as long as you are getting your desired return.
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Now I can do the Andrews 5% for 7 months.
No penalty to access funds if needed before maturityScroll to disclosure:2
No opening or maintenance fees
Daily compounding interest to maximize your earning potential
FDIC insured
No penalty. No problem.
Get the security of a CD with the flexibility to access your funds early if you need them. Lock in a great rate for 11 months. If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received.
Your money is safe and sound.
CIT Bank is a division of First-Citizens Bank & Trust Company, a member of the Federal Deposit Insurance Corporation (FDIC), which means your deposit accounts are insured up to $250,000 per depositor, for each account ownership category. Deposits held under the names First Citizens Bank & Trust Company and CIT Bank are not separately insured but must be combined for purposes of determining whether a depositor has exceeded the federal insurance deposit limit.
here is the link.
https://citbankapp.cit.
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To recap for best rates:
1) Buy 10K in iBonds (I'm told you can do 10K electronically and an addiitonal 10K in paper bonds)
2) Money above that 10K into the 22 month cd paying 5%. I have a 4% 4 year cd maturing in 2 days so timing on this info was great.
3) Buy 10k more in January of iBonds.