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CIT Bank 13-Month CD, Earn Expired

4.65% APY*
($1,000 Minimum Deposit)
+32 Deal Score
265,001 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
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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 Jun 2012
L5: Journeyman
> bubble2 767 Posts
70 Reputation
drslovak
11-26-2022 at 02:51 PM.
11-26-2022 at 02:51 PM.
Didn't these guys go bankrupt in 2009?
Also is there a $ limit?
Reply
Joined Jul 2006
L2: Beginner
> bubble2 33 Posts
10 Reputation
zhangweidai
11-27-2022 at 08:38 AM.
11-27-2022 at 08:38 AM.
This is better than salliemae's 12-month CD at 4.25% APY?
https://www.salliemae.com/banking...f-deposit/
Reply
Last edited by zhangweidai November 27, 2022 at 08:39 AM.
Joined Jul 2006
L2: Beginner
> bubble2 33 Posts
10 Reputation
zhangweidai
11-27-2022 at 09:17 AM.
11-27-2022 at 09:17 AM.
Quote from atlmsmith View quoted comment :
Ok how is this a deal when 26-week T-bill went for 4.52%? anyone can open Treasury Direct account and buy as much of T-bills as they please. Especially meaningful if you are running into FDIC insurance limits.

https://treasurydirect.gov/auctio...a-results/ [treasurydirect.gov]
Quote :
We are experiencing difficulties with TreasuryDirect's verification process. We apologize for the inconvenience and ask that you try again later.
Thanks for the suggestion btw. I'm trying it out. But my guess is that most people don't know about TBills, and/or CDs are just slightly more convenient. Got to say, TBills seem slightly more intimidating to the unexperienced.
Reply
Joined Dec 2004
L3: Novice
> bubble2 225 Posts
50 Reputation
gregbert
11-27-2022 at 09:17 AM.
11-27-2022 at 09:17 AM.
Quote from stormer0115 View quoted comment :
Edward Jones charges a fee and people should avoid it like a plague:

https://www.edwardjones.com/sites...eposit.pdf [edwardjones.com]
I've been trying to find out how much the fees are on CDs at ERJ.
The only thing I've found is "commission", but nothing to say what that is.
Anybody know what they charge?
Reply
Joined Dec 2004
L3: Novice
> bubble2 225 Posts
50 Reputation
gregbert
11-27-2022 at 09:23 AM.
11-27-2022 at 09:23 AM.
Quote from PaxtonRd View quoted comment :
ONE YEAR CD 4.70%
FYI - Depending upon your term there are better rates at Edward Jones (EJ) as of 11/18/2022
I have been step laddering my CDs with EJ since August 2022. Each CD is insured up to $250k with FDIC-Insured Certificates of Deposit - EJ deposits money in the banks that are offering the best rates. You do not have to have a brokerage account with EJ to open a CD.
  • 3-month 3.85%
  • 6-month 4.40%
  • 9-month 4.600%
  • 1-year 4.70%
  • 18-month 4.80%
  • 2-year 4.85%

https://www.edwardjones.com/us-en...rent-rates EJ also does U.S. Treasury Bills, Notes and BondsU.S.... [edwardjones.com]
How much commission does ERJ charge for each CD and is it charged for each of the buy/sell transactions?
Reply
Joined Sep 2013
L3: Novice
> bubble2 168 Posts
18 Reputation
HS45JK
11-27-2022 at 02:27 PM.
11-27-2022 at 02:27 PM.
Quote from warsatan View quoted comment :
Man, I don't understand this auction stuff and how to buy them. Is there a tutorial how to do it for a 5 years old ?

Buy it from your brokerage account, it's much easier and simple. You can youtube it but they are mostly the same steps. I used my td account min is 1 tbill, every tbill is $1,000.00
Reply
Joined Sep 2014
L3: Novice
> bubble2 213 Posts
42 Reputation
epanto2
11-27-2022 at 07:43 PM.
11-27-2022 at 07:43 PM.
These Banks running the scam low yield CDs so people can park their money long term and the banks can just gamble away. But people will never learn.
1
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Joined Jan 2015
peeing outdoors
> bubble2 2,264 Posts
1,011 Reputation
Pro
khronos
11-27-2022 at 07:47 PM.
11-27-2022 at 07:47 PM.
Quote from GadgetAddicted View quoted comment :
FYI, TABBank just raised its High Yield Savings rate to 3.64%. Yes, you can make more locking in with CDs or buying treasuries, but with rates continuing to rise with a terminal Funds rate going over 5%, I'd prefer to remain in cash.
4% at Redneck Bank
Reply
Joined Dec 2017
L2: Beginner
> bubble2 33 Posts
10 Reputation
sh2oft
11-27-2022 at 07:56 PM.
11-27-2022 at 07:56 PM.
Quote from gregbert View quoted comment :
I've been trying to find out how much the fees are on CDs at ERJ.
The only thing I've found is "commission", but nothing to say what that is.
Anybody know what they charge?
I previously had Edward Jones accounts. Look elsewhere.
Reply
Joined Jun 2014
New User
> bubble2 3 Posts
10 Reputation
joeinvegas
11-27-2022 at 07:59 PM.
11-27-2022 at 07:59 PM.
I'd look a fixed deferred annuities from a reputable insurance company like northwestern mutual, massmutual, New York life or guardian instead. They pay great rates, plus, unlike CD's, taxes are deferred for the entire term, ass opposed to paying taxes on a CD every year of the holding period.
Reply
Joined Dec 2020
L2: Beginner
> bubble2 99 Posts
JollyCreator527
11-27-2022 at 08:03 PM.
11-27-2022 at 08:03 PM.
High rates aren't going anywhere, I suggest getting brokered CDS much easier to move money around into different CDs
Reply
Joined Jan 2019
New User
> bubble2 9 Posts
10 Reputation
ShrewdSink4619
11-27-2022 at 08:33 PM.
11-27-2022 at 08:33 PM.
Rates are going up. Just wait.
Reply
Joined Sep 2014
Most Based Slickdealer
> bubble2 7,766 Posts
844 Reputation
CTRL-ALT-DEALS
11-27-2022 at 08:38 PM.
11-27-2022 at 08:38 PM.
Quote from dbcmeplease View quoted comment :
Big fan of CIT. Ease of navigating site and conducting transactions on CDs. But SkyOne FCU via SaveBetter has a 22 month CD at 5.00% APY as of today

So, earning about half the inflation rate 🤑
Reply
Joined May 2006
L1: Learner
> bubble2 13 Posts
10 Reputation
Blitzr
11-28-2022 at 10:28 AM.
11-28-2022 at 10:28 AM.
U.S Treasure is 4.6% and no federal tax. 3.9% with maturity date in February, 23. So this is not that great.
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Joined Aug 2016
L4: Apprentice
> bubble2 831 Posts
139 Reputation
sknick
11-28-2022 at 03:15 PM.
11-28-2022 at 03:15 PM.
Snipp
Reply
Last edited by sknick December 2, 2022 at 09:12 AM.
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