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
257,389 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
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
Tim Hortons $50 eGift Card $40 + Free eDelivery
2 2
Deal
Score +32
257,389 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 May 2016
L1: Learner
> bubble2 23 Posts
18 Reputation
unclechett
11-10-2022 at 08:53 AM.
11-10-2022 at 08:53 AM.
i use cit for a high interest savings account and generally like them. one thing kinda pissed me off - rates were low for a while (~1%) then recently went up (currently 3.2%). instead of automatically giving you the better rate in your "savings builder" account, they created a nearly identical product called "savings connect" that go the new rate, requiring people to take action to get the better rate in an obvious money grab. they definitely didn't pull that shit when rates went down...
Reply
Joined Jul 2009
L6: Expert
> bubble2 1,545 Posts
293 Reputation
Rawimpact
11-10-2022 at 09:06 AM.
11-10-2022 at 09:06 AM.
People need to remember, these rates are in APY, not rate of return at maturity.

Ex. 100 dollars going into a 4% APY 4 week bill would not yield you $~4.00, but closer to ~35cents at maturity.
Reply
Joined Jul 2011
L5: Journeyman
> bubble2 547 Posts
502 Reputation
stormer0115
11-10-2022 at 10:19 AM.

Our community has rated this post as helpful. If you agree, why not thank stormer0115

11-10-2022 at 10:19 AM.
Quote from Hawaiiana :
On noob question. If I put 20k today. How much will be the maturity or end up getting by the end of 13 months for this kind of rate, including the taxes I have to pay?? Please someone with great thinking brain and good with math can help me out. Thank. Please.
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.
6
Reply
Last edited by stormer0115 November 10, 2022 at 12:15 PM.
Joined Aug 2011
L3: Novice
> bubble2 240 Posts
74 Reputation
coccyxdynia
11-10-2022 at 11:38 AM.

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

11-10-2022 at 11:38 AM.
Go open up an account at Fidelity and buy T-bills. You'll get a better rate and you don't need to pay state / local tax.
1
Reply
Joined Feb 2011
Disappontment panda
> bubble2 983 Posts
149 Reputation
bageland2000
11-10-2022 at 12:34 PM.

Our community has rated this post as helpful. If you agree, why not thank bageland2000

11-10-2022 at 12:34 PM.
Quote from CoralRose466 :
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.
CoralRose466 with a crystal ball over hear. Advice to people making financial decisions based on anonymous internet comments: no one knows what the future fed prime rates will be (or stock prices or the housing market). Make your decisions based on today, not some murky future predictions.
1
5
Reply
Joined Nov 2011
L2: Beginner
> bubble2 98 Posts
22 Reputation
Vihzel
11-10-2022 at 03:32 PM.
11-10-2022 at 03:32 PM.
Quote from bageland2000 :
CoralRose466 with a crystal ball over hear. Advice to people making financial decisions based on anonymous internet comments: no one knows what the future fed prime rates will be (or stock prices or the housing market). Make your decisions based on today, not some murky future predictions.
Advice to people making financial decisions based on anonymous internet comments: It's probably best to think about future performance for investment vehicles that rely on future predictions (ex. stocks, housing market, bonds) before making those investments.
1
Reply
Joined Jun 2021
L6: Expert
> bubble2 1,636 Posts
57 Reputation
Hawaiiana
11-10-2022 at 04:10 PM.
11-10-2022 at 04:10 PM.
Quote from wonshikee :
Go open up an account at Fidelity and buy T-bills. You'll get a better rate and you don't need to pay state / local tax.

Can you tell me more about this. I am newbie for this😭
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Feb 2011
Disappontment panda
> bubble2 983 Posts
149 Reputation
bageland2000
11-10-2022 at 04:21 PM.
11-10-2022 at 04:21 PM.
Quote from Vihzel :
Advice to people making financial decisions based on anonymous internet comments: It's probably best to think about future performance for investment vehicles that rely on future predictions (ex. stocks, housing market, bonds) before making those investments.

No, it's best to look at their current performance and decide based on that whether it's worth it for your personal financial situation while understanding that anyone who thinks they can predict future rates/performance is full of crap.
1
Reply
Joined Aug 2012
L9: Master
> bubble2 4,286 Posts
289 Reputation
Hyrax
11-10-2022 at 05:50 PM.
11-10-2022 at 05:50 PM.
I think it might be beneficial to make the minimum payment on my 2% mortgage and use the money I'd spend on this. 😄
1
Reply
Joined Feb 2014
L3: Novice
> bubble2 266 Posts
49 Reputation
tu1820
11-10-2022 at 08:06 PM.
11-10-2022 at 08:06 PM.
Quote from unclechett :
i use cit for a high interest savings account and generally like them. one thing kinda pissed me off - rates were low for a while (~1%) then recently went up (currently 3.2%). instead of automatically giving you the better rate in your "savings builder" account, they created a nearly identical product called "savings connect" that go the new rate, requiring people to take action to get the better rate in an obvious money grab. they definitely didn't pull that shit when rates went down...
How do you move to that "savings connect"? Open a new account, move the money and close the old one? Or is there a way to simply change it?
Reply
Joined Dec 2005
Suck my Spargel
> bubble2 3,339 Posts
388 Reputation
Mr. Sparkles
11-10-2022 at 08:15 PM.
11-10-2022 at 08:15 PM.
Quote from Hawaiiana :
Can you tell me more about this. I am newbie for this😭

Call fidelity. They are helpful and will walk you through it. It is pretty easy…
Reply
Joined Dec 2010
L4: Apprentice
> bubble2 2,948 Posts
86 Reputation
radars
11-10-2022 at 08:56 PM.
11-10-2022 at 08:56 PM.
Online bank is unreliable, isn't it?
Reply
Joined Nov 2015
L4: Apprentice
> bubble2 392 Posts
99 Reputation
hajimow
11-10-2022 at 08:59 PM.
11-10-2022 at 08:59 PM.
If you have a fidelity or a merrilledge account, you can buy 12 month CD for 4.7% from their marketplace issued by different banks.
Reply
Joined Jul 2011
L5: Journeyman
> bubble2 547 Posts
502 Reputation
stormer0115
11-10-2022 at 10:34 PM.
11-10-2022 at 10:34 PM.
Quote from Hawaiiana :
Can you tell me more about this. I am newbie for this😭
You can watch this:

https://www.youtube.com/watch?v=rFuiC-UNeMc
Reply

Sign up for a Slickdeals account to remove this ad.

Joined Oct 2022
L2: Beginner
> bubble2 65 Posts
18 Reputation
CoralRose466
11-11-2022 at 06:22 AM.
11-11-2022 at 06:22 AM.
Quote from bageland2000 :
CoralRose466 with a crystal ball over hear. Advice to people making financial decisions based on anonymous internet comments: no one knows what the future fed prime rates will be (or stock prices or the housing market). Make your decisions based on today, not some murky future predictions.
I don't have crystal balls, but much better understanding when it comes to an investment. If all I want to lock down my money for 13 months to get 4.15% interest, then I would much better lock down my money for 12 months to get 4.7% Interest through Fidelity any day. Shorter the term and better the interest. Hope this helps.
1
Reply
Page 4 of 36
Start the Conversation
 
Link Copied

The link has been copied to the clipboard.