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CIT Bank 13-Month CD, Earn Expired

4.65% APY*
($1,000 Minimum Deposit)
+32 Deal Score
265,240 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
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Original Post

Written by
Edited November 14, 2022 at 11:37 AM 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
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4.65% APY*
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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:
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Joined Oct 2009
L8: Grand Teacher
> bubble2 3,779 Posts
1,361 Reputation
CoronaKid
11-14-2022 at 12:09 PM.
11-14-2022 at 12:09 PM.
Quote from sh2oft View quoted comment :
Look elsewhere if you value your time. Over the past couple of months it has taken more than 30 minutes to get a live person at CIT's customer service with questions regarding an existing account. Then when a live body actually answers, expect to be transferred to someone else because the initial representative who answers won't be able to answer your question.

Why do you need to talk to live person? I don't think I've ever needed to call CIT Bank.
Reply
Joined Nov 2007
L6: Expert
> bubble2 1,590 Posts
166 Reputation
suednim
11-14-2022 at 12:12 PM.
11-14-2022 at 12:12 PM.
I recently closed my CIT a/c. Awful experience. I tried phone, email, text. Impossible to get response. Others banks much easier to deal with.
Reply
Joined Sep 2008
L10: Grand Master
> bubble2 7,705 Posts
728 Reputation
DogAndPony
11-14-2022 at 12:13 PM.
11-14-2022 at 12:13 PM.
Quote from happygooddeal View quoted comment :
Since I have Fidelity is it better to buy it from treasurydirect.gov ?
Thank you for your time helping me.
Yes, buy from Fidelity. You can then sell before maturity if you want or need to. You can't do that with TD.

But you only avoid fees on Fidelity by buying new issues. If you buy on the open market you'll have to pay the difference in the spread.

On Fidelity, go to News and Research, Fixed Income, and then choose New Issues. There are t bill auctions on Tuesday and Thursday this week. Those will become available on Fidelity after the auction. That's the one plus about buying on TD. You can purchase prior to the auction.
Reply
Joined Dec 2010
L2: Beginner
> bubble2 32 Posts
18 Reputation
m1ns1
11-14-2022 at 12:39 PM.
11-14-2022 at 12:39 PM.
Quote from khronos View quoted comment :
join the American Consumer Council

Can u pls elaborate on American Consumer Council. I am a newbie. Thanks
Reply
Joined May 2014
L1: Learner
> bubble2 78 Posts
14 Reputation
nysingsta
11-14-2022 at 12:39 PM.
11-14-2022 at 12:39 PM.
Good find. Capital one is offering 4% for 12 months and 4.1% for 24 or 30 months.

https://www.capitalone.com/bank/c...lsrc=aw.ds
Reply
Joined Feb 2018
New User
> bubble2 12 Posts
10 Reputation
RussiansKnowBest
11-14-2022 at 12:53 PM.
11-14-2022 at 12:53 PM.
CIT Bank is a nightmare to deal with. I have been trying to close my CD for close to 2 weeks now. Its not possible to get anyone on the phone. The hold times are insane. When opting for call back you get a call hours later and then you need to be transferred to someone that can close the CD and i keep getting hang ups or insane holds and no one can help me. I want to get my money out of these peoples hands and back in my pocket and they make it impossible. I would think twice about opening cd with them because there is no way to close it and cash out online.
Reply
Joined Sep 2011
$
> bubble2 3,272 Posts
1,137 Reputation
Pro
E4300
11-14-2022 at 01:02 PM.
11-14-2022 at 01:02 PM.
Quote from DogAndPony View quoted comment :
Yes, buy from Fidelity. You can then sell before maturity if you want or need to. You can't do that with TD.

But you only avoid fees on Fidelity by buying new issues. If you buy on the open market you'll have to pay the difference in the spread.

On Fidelity, go to News and Research, Fixed Income, and then choose New Issues. There are t bill auctions on Tuesday and Thursday this week. Those will become available on Fidelity after the auction. That's the one plus about buying on TD. You can purchase prior to the auction.
I want the cheapest option, so I buy from Treasury Direct. You COULD pay more if you buy from Fidelity.
Reply

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Joined Jul 2018
L5: Journeyman
> bubble2 510 Posts
308 Reputation
PurpleRaccoon2149
11-14-2022 at 01:04 PM.
11-14-2022 at 01:04 PM.
Quote from Debit2Cash View quoted comment :
I bonds are 10k per year cap on electronic and 5k paper which in my understanding have to be purchased with an irs refund
I believe Debit2Cash is correct. I just bought electronic I-Bonds for my wife & myself, and that is what the TreasuryDirect website said. The problem I have with buying an I-Bond on our return with the refund is: how do you know what interest rate it will be when they take half a year to process return. (We didn't get our 2020 refund until December 2021, and we are still waiting for our 2021 refund!!) I am guessing if we'd elected the I-Bond on our 2021 return, we would have missed the 9.62% rate that just changed.
Reply
Joined Sep 2011
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> bubble2 3,272 Posts
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E4300
11-14-2022 at 01:04 PM.
11-14-2022 at 01:04 PM.
Quote from happygooddeal View quoted comment :
Since I have Fidelity is it better to buy it from treasurydirect.gov ?
Thank you for your time helping me.
You will always get the lowest price if you buy from the MAN. Fidelity is more convenient, but you MAY pay more.
Reply
Joined Jul 2019
L4: Apprentice
> bubble2 444 Posts
94 Reputation
WoodenWineBox
11-14-2022 at 01:07 PM.
11-14-2022 at 01:07 PM.
Just a fyi 13 week (3 month) tbills are currently 4.15%. the rate varies every auction but better than locking up your cash for a year
Reply
Joined May 2016
L2: Beginner
> bubble2 38 Posts
18 Reputation
unclechett
11-14-2022 at 01:31 PM.
11-14-2022 at 01:31 PM.
Quote from tu1820 View quoted comment :
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?
yep, had to open a new account and transfer the funds. it actually wasn't difficult or anything, just annoying
Reply
Joined Apr 2009
L4: Apprentice
> bubble2 363 Posts
191 Reputation
MrToyman
11-14-2022 at 01:42 PM.
11-14-2022 at 01:42 PM.
Got stock at 3% for 12-months last October 2022.😣
Reply
Joined Dec 2021
New User
> bubble2 5 Posts
10 Reputation
NeatJoke837
11-14-2022 at 01:46 PM.
11-14-2022 at 01:46 PM.
As of November 10th, the one year Treasury Bill yields 4.59%, available through TreasuryDirect in denominations as low as $100. The next auction date is 11/29. https://www.treasurydirect.gov/ma...-security/
Reply
Joined Sep 2008
L10: Grand Master
> bubble2 7,705 Posts
728 Reputation
DogAndPony
11-14-2022 at 02:11 PM.
11-14-2022 at 02:11 PM.
Quote from E4300 View quoted comment :
I want the cheapest option, so I buy from Treasury Direct. You COULD pay more if you buy from Fidelity.
I don't think you will pay more if you buy new issues. Yes, if you buy an already issued bond from another investor you will pay difference in spread. But I believe if you buy new issue there are no additional costs.
Reply

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Joined Jul 2005
L3: Novice
> bubble2 269 Posts
303 Reputation
laier19usa
11-14-2022 at 02:44 PM.
11-14-2022 at 02:44 PM.
Quote from aznboicn View quoted comment :
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
I thought this video explains how to buy T-bills very well and specifically how to buy from Fidelity, which I like because of their auto-roll feature.

https://youtu.be/rFuiC-UNeMc
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