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CIT Bank 13-Month CD, Earn Expired

4.65% APY*
($1,000 Minimum Deposit)
+32 Deal Score
257,425 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
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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 2006
Long live ME
> bubble2 1,697 Posts
293 Reputation
revere04
03-31-2023 at 08:43 PM.
03-31-2023 at 08:43 PM.
I think direct federal,credit has. 9 month at 5 percent CD right now

https://info.direct.com/leading-c...1680317112
Reply
Joined Dec 2011
L7: Teacher
> bubble2 2,098 Posts
139 Reputation
nevergoodenough
03-31-2023 at 09:15 PM.
03-31-2023 at 09:15 PM.
You can find savings accounts with higher interest rates.

Ally offers 5.0 APY no minimum no obligation Cds you can take your money when you need it without penalty.

https://www.ally.com/bank/high-yi...lsrc=aw.ds


Schwab offers 5.35 on 10 month cds

This deal is trash... locking up your money at low rates is a stupid move when you could put it in axos bank for higher interest and use it when you want.
1
Reply
Last edited by nevergoodenough March 31, 2023 at 09:18 PM.
Joined Dec 2010
L2: Beginner
> bubble2 41 Posts
59 Reputation
jbeecham
03-31-2023 at 09:47 PM.
03-31-2023 at 09:47 PM.
UFB Direct Bank (division of Axos Bank) has a 5.02% Preferred Savings Account with no minimums and no fees that's FDIC insured up to $250k. If you need check writing, they have the 5.02% Preferred Money Market Account with no fees as long as you've met the 5k minimum deposit.
Reply
Joined Jan 2007
♪♫ Pickin' Bluegrass ♫♪
> bubble2 22,258 Posts
3,873 Reputation
Pro
BluegrassPicker
04-01-2023 at 09:07 AM.
04-01-2023 at 09:07 AM.
Quote from nevergoodenough :
You can find savings accounts with higher interest rates.

Ally offers 5.0 APY no minimum no obligation Cds you can take your money when you need it without penalty.

https://www.ally.com/bank/high-yi...lsrc=aw.ds
"Early withdrawal penalty will apply"
Reply
Joined Dec 2011
L7: Teacher
> bubble2 2,098 Posts
139 Reputation
nevergoodenough
04-01-2023 at 09:27 AM.
04-01-2023 at 09:27 AM.
Quote from BluegrassPicker :
"Early withdrawal penalty will apply"
there are ally no penalty cds
https://www.ally.com/bank/no-penalty-cd/

UFB has a savings account at 5.02 and I presented a few different options in my comment not just one, but its your money do whatever you want.
Reply
Last edited by nevergoodenough April 1, 2023 at 09:30 AM.
Joined Jan 2007
♪♫ Pickin' Bluegrass ♫♪
> bubble2 22,258 Posts
3,873 Reputation
Pro
BluegrassPicker
04-01-2023 at 09:50 AM.
04-01-2023 at 09:50 AM.
Quote from nevergoodenough :
there are ally no penalty cds
https://www.ally.com/bank/no-penalty-cd/
Correct. But there is no CD available at Ally where "you can take your money when you need it without penalty" other than the one currently at 4.35%, and definitely not one at 5%.

The statement "Ally offers 5.0 APY no minimum no obligation Cds you can take your money when you need it without penalty" is not correct. That's all I was pointing out. No biggie.

Quote from nevergoodenough :
UFB has a savings account at 5.02 and I presented a few different options in my comment not just one, but its your money do whatever you want.
Thanks for the options. If there's a 5% no penalty one at Ally I'd sure like to see it so I can xfer some cash over there.
Reply
Joined Aug 2007
L6: Expert
> bubble2 1,488 Posts
265 Reputation
oakraiders510
05-12-2023 at 10:26 PM.
05-12-2023 at 10:26 PM.
4.65? If you have Merrill Lynch, you can get 5.0-5.15
1
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Joined Oct 2009
L8: Grand Teacher
> bubble2 3,766 Posts
1,361 Reputation
CoronaKid
05-14-2023 at 09:43 AM.
05-14-2023 at 09:43 AM.
Quote from oakraiders510 :
4.65? If you have Merrill Lynch, you can get 5.0-5.15

This was from 43 days ago. I'm not sure why SD hasn't taken it down.
Reply
Joined Jan 2005
L4: Apprentice
> bubble2 417 Posts
40 Reputation
KCinNE
05-14-2023 at 10:03 AM.
05-14-2023 at 10:03 AM.
Quote from coronakid :
This was from 43 days ago. I'm not sure why SD hasn't taken it down.
probably because they make a profit if you follow the link
Reply
Joined Jan 2004
CAPS LOCK EXTRAORDINAIRE
> bubble2 258 Posts
51 Reputation
LPTyger
05-15-2023 at 06:52 AM.
05-15-2023 at 06:52 AM.
If you have over $5,000, CIT Bank's High-Yield Savings Account is at 4.85%.

https://www.cit.com/cit-bank/bank/savings
Reply
Last edited by LPTyger May 15, 2023 at 07:10 AM.
Joined Aug 2018
L6: Expert
> bubble2 1,064 Posts
70 Reputation
Kraken09
05-15-2023 at 06:56 AM.
05-15-2023 at 06:56 AM.
Quote from LPTyger :
If you have over $5,000, CIT Bank's High-Yield Savings Account is at 4.75%.

https://www.cit.com/cit-bank/bank/savings

The 11 month CD at 4.90 is better. You can break it without a fee and you're guaranteed the higher rate longer.

CIT has a tendency of creating new savings accounts under new names and leaving older account types with next to nothing for interest. They do it all the time. You won't get any notification of it happening either.
Reply
Joined Oct 2005
Eternally banned
> bubble2 6,699 Posts
1,456 Reputation
Pro
sleepybubba
05-15-2023 at 07:10 AM.
05-15-2023 at 07:10 AM.
Not sure why everyone is so excited? Citizens Access offers 4.5 APY Savings and no need to lock down your funds for 13 months: https://www.secure.citizensaccess...ns/savings

Or if you prefer, 5% APY CD for 1-year term: https://www.secure.citizensaccess...posit.page
Reply
Joined Mar 2013
L2: Beginner
> bubble2 99 Posts
32 Reputation
XCypher73
05-15-2023 at 09:55 AM.
05-15-2023 at 09:55 AM.
Quote from SilentJudge :
CIT is FDIC insured. $250K individual or $500K for joint.
Only problem is the FDIC is essentially bankrupt. They have about $24B to cover over $100B in liabilities. Ticking timebomb.
1
Reply
Joined Sep 2021
L6: Expert
> bubble2 1,370 Posts
309 Reputation
Wyvern1
05-15-2023 at 10:31 AM.
05-15-2023 at 10:31 AM.
swvxx is yielding 4.90% now...


https://www.schwab.com/money-market-funds
Reply

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Joined May 2007
L5: Journeyman
> bubble2 555 Posts
243 Reputation
drivenZ
05-15-2023 at 10:38 AM.
05-15-2023 at 10:38 AM.
Quote from Wyvern1 :
swvxx is yielding 4.90% now...


https://www.schwab.com/money-market-funds
not FDIC insured and the rate is floating. Alot of people think rates have peaked (myself included) so I want to lock in now or soon.
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