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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 Sep 2007
L6: Expert
> bubble2 1,480 Posts
126 Reputation
L0wang
06-23-2023 at 02:44 PM.
06-23-2023 at 02:44 PM.
I'm not sure why these are even deals. You can go to fidelity.com and by FDIC bank insured CDs for 5.2% and higher... and not deal with multiple banks.
Reply
Joined Oct 2022
L2: Beginner
> bubble2 65 Posts
18 Reputation
CoralRose466
06-24-2023 at 04:36 PM.
06-24-2023 at 04:36 PM.
Quote from jdwoodfield View quoted comment :
This post is over 7 months ago. Clearly SD gets paid to keep it up. I get the same rate with zero hold requirement just sitting in my fidelity account. This is a bad deal compared to other offers.
If you remember how SD was back in 2006-2007 era and how it is now. Clearly that Indian dude who found SD made his millions and walked away by selling SD to commercial company. Oh and they lure peoples into by giving them rep points rather than profit sharing. Peoples are stupid at the end.
Reply
Joined Oct 2022
L2: Beginner
> bubble2 65 Posts
18 Reputation
CoralRose466
06-24-2023 at 04:37 PM.
06-24-2023 at 04:37 PM.
Quote from L0wang View quoted comment :
I'm not sure why these are even deals. You can go to fidelity.com and by FDIC bank insured CDs for 5.2% and higher... and not deal with multiple banks.
Its a long term vs short term investment decision. It has nothing to do with lower or higher APY.
Reply
Joined Oct 2022
L2: Beginner
> bubble2 65 Posts
18 Reputation
CoralRose466
06-24-2023 at 04:38 PM.
06-24-2023 at 04:38 PM.
Quote from syborg721 View quoted comment :
I have a HYSA with CIT and their HYSA rate is 4.95%... I have a 6 month 5% CD with them as well and I wish I had just left it in the HYSA.
They will go as high as 5.5% or above by end of the year.
Reply
Joined Nov 2003
L5: Journeyman
> bubble2 937 Posts
38 Reputation
TripeoXxX
06-24-2023 at 05:37 PM.
06-24-2023 at 05:37 PM.
Why are people locking down their money for 4%? Discover's high yield savings account is at 4.15% and the rates automatically go up and you don't need to have your money locked.
Reply
Joined Dec 2019
L3: Novice
> bubble2 125 Posts
156 Reputation
GreenOctopus8151
06-24-2023 at 06:45 PM.
06-24-2023 at 06:45 PM.
Quote from Rhetorician View quoted comment :
Exactly. Feb maturity tbills are the best place at the moment

I agree. In addition to buying a short term bond fund or t bills, you can maintain liquidity via a money market account, e.g., https://investor.vanguard.com/inv...ey-markets

If you are in CA or NY, there are money markets that let you avoid state and local taxes (though they pay a lower interest rate).

Some of these require $3k to open as an individual account, but the default settlement account at Vanguard is Prime MM (the second on the list), so you effectively don't need any money to get that one.
Reply
Joined Jun 2014
L2: Beginner
> bubble2 53 Posts
58 Reputation
Kingpinandtheother
06-24-2023 at 09:39 PM.
06-24-2023 at 09:39 PM.
Many local banks and big banks Like U.S. Bank has better terms and rates. Also, check with your current bank to see if they match the rate. Many banks are matching rates.
Reply

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Joined Nov 2015
L4: Apprentice
> bubble2 323 Posts
34 Reputation
MadisMas
06-25-2023 at 04:42 AM.
06-25-2023 at 04:42 AM.
Quote from CoralRose466 View quoted comment :
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.

Ally or Cit offer 11 month no early withdrawal penalty CDs
Reply
Joined Jul 2015
L3: Novice
> bubble2 184 Posts
42 Reputation
FrankH2394
06-25-2023 at 09:14 AM.
06-25-2023 at 09:14 AM.
Quote from CoralRose466 View quoted comment :
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 agree, but if you have the income put in s few thousand. Then save the rest for later. Mine mature quarterly. I have 15 cds. Spread out. Not the best idea but in a pinch I know the money is coming
Reply
Joined May 2017
L2: Beginner
> bubble2 75 Posts
10 Reputation
knowsknothingaboutit
06-25-2023 at 09:35 AM.
06-25-2023 at 09:35 AM.
I'm new to this stuff. Is this better or the high yield savings at I believe 4.9? I have like 5k
Reply
Joined Oct 2022
L2: Beginner
> bubble2 65 Posts
18 Reputation
CoralRose466
06-25-2023 at 10:38 AM.
06-25-2023 at 10:38 AM.
Quote from knowsknothingaboutit View quoted comment :
I'm new to this stuff. Is this better or the high yield savings at I believe 4.9? I have like 5k
$5k may be too small or too big for one, but it is small amount to make a huge dent if you get 4.5% APY or 4.9% APY

I have close to million locked up in HYSA....LOL...J/K
Reply
Joined Nov 2010
L4: Apprentice
> bubble2 348 Posts
22 Reputation
DungN
06-25-2023 at 04:15 PM.
06-25-2023 at 04:15 PM.
Is this a timeshare scam? You cant get free money for free.
2
Reply
Joined Sep 2021
L2: Beginner
> bubble2 69 Posts
10 Reputation
H2kassem
06-25-2023 at 06:59 PM.
06-25-2023 at 06:59 PM.
Betterment cash reserve - 4.5% - no strings
Reply
Joined Nov 2003
J316: Saved By Grace
> bubble2 1,393 Posts
199 Reputation
JesusFreak
06-25-2023 at 08:10 PM.
06-25-2023 at 08:10 PM.
Quote from H2kassem View quoted comment :
Betterment cash reserve - 4.5% - no strings

CIT platinum savings. 4.95%. $5k minimum deposit. Compounded daily. Easy peasy.
1
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Joined May 2017
L2: Beginner
> bubble2 75 Posts
10 Reputation
knowsknothingaboutit
06-26-2023 at 09:42 AM.
06-26-2023 at 09:42 AM.
Quote from CoralRose466 View quoted comment :
$5k may be too small or too big for one, but it is small amount to make a huge dent if you get 4.5% APY or 4.9% APY

I have close to million locked up in HYSA....LOL...J/K
so the high yield is better than this CD?
Reply
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