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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
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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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Or if you prefer, 5% APY CD for 1-year term: https://www.secure.citizensaccess...posit.page [citizensaccess.com]
CIT offers 4.85% APY for a savings account. if your balance is >=$5k which is .35% higher than Citizens. https://www.cit.com/cit-bank/bank...gs-account
CIT offers 4.6% APY for a savings account. if your balance is >=$100 which is .1% higher than Citizens. https://www.cit.com/cit-bank/bank...ct-account
CIT offers 49% APY for 13 months of "No-Penalty" CD. This is a lot better than locking your money for 12 months and getting a .1% higher return for many folks. https://www.cit.com/cit-bank/bank...penalty-cd
Do you mind sharing the reason for suggesting Citizens? As I said earlier I don't have an account at both, so I might be missing some benefits here. I am thinking about opening an account with CIT, so wanted to find your point of view so that it can help me.
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You can easily transfer your money in, but no easy way to get your money out.
They will put a $3000 transfer limit for external transfer out if you are "new".
Even their normal transfer limit is: 150K per day.
It's been over a week now and with multiple secure message and phone call, still can't get rid of the transfer limit. They will do everything to deny your request to increase the limit.
You can easily transfer your money in, but no easy way to get your money out.
They will put a $3000 transfer limit for external transfer out if you are "new".
Even their normal transfer limit is: 150K per day.
It's been over a week now and with multiple secure message and phone call, still can't get rid of the transfer limit. They will do everything to deny your request to increase the limit.
I would not trust putting a lot of money into that bank, especially if you need to get it out in any sort of timely fashion. You'd be better off putting it in a 90 day CD at another bank to get the same rate, since it will be locked up for most of that time either way.
Does FDIC cover the interest earned or just face value of cd if it hasn't matured yet?
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