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
533 Comments
Your comment cannot be blank.
Featured Comments
$920 - ($920 x (25% + 9%)) = $607.2
You can use above example to plug in your real tax bracket percentages to get your own number. It's a bit difficult to show the calculation of interest on here but you can find interest calculator on web.
Sign up for a Slickdeals account to remove this ad.
Savings account rates can go up or down any time. The bank is in the driver seat in setting the rates.
CD rates stay fixed for the duration of the term. So in the current scenario, if the rates go up during the term of the CD, then the Savings account may turn out to be a better deal.
If the rates go down, then a CD with a higher fixed rate will make you feel like a winner.
Also, most CDs lock your money for a fixed duration unless it's a 'no-penalty' CD. Those CDs provide a 'floor' for the interest rate and if the rate goes up, you can get your money out anytime and sign up for the newer CD with a higher rate.
Otherwise buy a fund or buy notes at Treasury Direct for some tax advantaged higher yield.
Mines took 3 business days
Sign up for a Slickdeals account to remove this ad.
4.75% CD @ Discover for 1 yr and 18 months.
Here is a premium savings at this same bank that pays 4.85 APY. This might be a better option for some. Minimum deposit is 5000.
https://www.cit.com/cit-bank/plat...$clickke
I'm getting good interest in Dollarsavingsdirect.com. It's paying 4% APY. No fees. Minimum 1,000 deposit. I've been with them for many years and have been very happy.
https://www.dollarsavin
Here is a premium savings at this same bank that pays 4.85 APY. This might be a better option for some. Minimum deposit is 5000.
https://www.cit.com/cit-bank/platinum-savings?utm_campaign=wp_qs_rt_nb_platinumsavings_prospecting_c... [cit.com]
I'm getting good interest in Dollarsavingsdirect.com. It's paying 4% APY. No fees. Minimum 1,000 deposit. I've been with them for many years and have been very happy.
https://www.dollarsavingsdirect.com/securebanking/login.do?_flowExecutionKey=_c36AE3DF4-7CFE-44C1-FC... [dollarsavingsdirect.com]
High yield savings typically don't lock up your money and some will lock the rate. You can sometimes negotiate the rate lock with a bank as well.
Good luck fighting inflation everyone!
popular direct is offering this as their base savings rate without having to lock up your money for 12 months
Sign up for a Slickdeals account to remove this ad.