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CIT Bank 11 Month No-Penalty CD: Earn Expired

4.80% APY*
+37 Deal Score
49,074 Views
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.

Thanks to staff member LD7 for finding this deal.
  • $1,000 minimum to open
  • No penalty to access funds if needed before maturity
  • No opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • Member FDIC
  • *See site for details
Slickdeals may be compensated by CIT Bank

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Original Post

Written by
Edited May 9, 2023 at 08:28 AM by
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.
  • $1,000 minimum to open
  • No penalty to access funds if needed before maturity
  • No opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • Member FDIC
  • *See site for details
Slickdeals may be compensated by CIT Bank
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Created 03-31-2023 at 01:30 PM by LD7 | Staff
in Finance CIT Bank
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Deal
Score +37
49,074 Views
4.80% APY*

142 Comments

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Featured Comments

CIT is a division of First Citizens Bank and Trust Co.
Didn't First Citizens just acquire the assets of SVB?
·
4.80% is good for a no-penalty CD.
For a normal CD, Marcus is offering a 10-month 5.05%.
CIT also has a savings account for 4.75% if you put in more than $5k. Keep in mind that CIT is notorious for creating new savings products with higher rates and reducing the rates of old ones without telling you.
·
Ally needs to match this. They just lowered theirs to 4.35% from 4.75%.
·

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Joined Apr 2009
L6: Expert
> bubble2 1,563 Posts
387 Reputation
nowayman
03-31-2023 at 03:05 PM.
03-31-2023 at 03:05 PM.
You can get 5%. Why would you take 4.8%?
4
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Joined Jun 2004
L4: Apprentice
> bubble2 418 Posts
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porkmeat
03-31-2023 at 04:13 PM.
03-31-2023 at 04:13 PM.
4.80% is good for a no-penalty CD.
For a normal CD, Marcus is offering a 10-month 5.05%.
CIT also has a savings account for 4.75% if you put in more than $5k. Keep in mind that CIT is notorious for creating new savings products with higher rates and reducing the rates of old ones without telling you.
Reply
Joined Oct 2004
L6: Expert
> bubble2 1,725 Posts
177 Reputation
Passions
03-31-2023 at 04:15 PM.
03-31-2023 at 04:15 PM.
Quote from nowayman :
You can get 5%. Why would you take 4.8%?
T-bills aren't as liquid as no penalty CDs.
5
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Joined Nov 2010
L10: Grand Master
> bubble2 1,745 Posts
1,222 Reputation
notaek
03-31-2023 at 08:03 PM.
03-31-2023 at 08:03 PM.
Ally needs to match this. They just lowered theirs to 4.35% from 4.75%.
Reply
Joined Dec 2018
L3: Novice
> bubble2 125 Posts
22 Reputation
BeigeLake5822
03-31-2023 at 08:33 PM.
03-31-2023 at 08:33 PM.
Quote from porkmeat :
4.80% is good for a no-penalty CD.
For a normal CD, Marcus is offering a 10-month 5.05%.
CIT also has a savings account for 4.75% if you put in more than $5k. Keep in mind that CIT is notorious for creating new savings products with higher rates and reducing the rates of old ones without telling you.

Can you post link to Marcus. Couldn't find it.
Reply
Joined Oct 2004
L6: Expert
> bubble2 1,725 Posts
177 Reputation
Passions
03-31-2023 at 08:34 PM.
03-31-2023 at 08:34 PM.
Quote from porkmeat :
4.80% is good for a no-penalty CD.
For a normal CD, Marcus is offering a 10-month 5.05%.
CIT also has a savings account for 4.75% if you put in more than $5k. Keep in mind that CIT is notorious for creating new savings products with higher rates and reducing the rates of old ones without telling you.
So CIT can drop this rate for their no penalty CD? That's crazy bad
3
Reply
Joined Dec 2013
L7: Teacher (far from it)
> bubble2 9,341 Posts
2,124 Reputation
Pro
doboy007
03-31-2023 at 08:46 PM.
03-31-2023 at 08:46 PM.
Quote from notaek :
Ally needs to match this. They just lowered theirs to 4.35% from 4.75%.
I guess CIT is copying Ally's playbook to shore up their deposits.
Reply

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Joined Jun 2004
L4: Apprentice
> bubble2 418 Posts
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porkmeat
03-31-2023 at 09:46 PM.
03-31-2023 at 09:46 PM.
Quote from Passions :
So CIT can drop this rate for their no penalty CD? That's crazy bad
I think the rate for the CDs are locked once you have them open. Savings account are the ones they change.
Reply
Joined Feb 2008
L5: Journeyman
> bubble2 697 Posts
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lev280
04-01-2023 at 11:16 AM.

Our community has rated this post as helpful. If you agree, why not thank lev280

04-01-2023 at 11:16 AM.
CIT is a division of First Citizens Bank and Trust Co.
Didn't First Citizens just acquire the assets of SVB?
3
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Joined Sep 2010
L9: Master
> bubble2 4,071 Posts
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stegall
04-01-2023 at 11:36 AM.
04-01-2023 at 11:36 AM.
No, it's not insured, but the current yield at Vanguard money market fund is about 4.7%, and, of course, it will fluctuate. I have been there for over 35 years. Other mutual fund money market offerings will be more or less than Vanguard, but in the ballpark.
Reply
Joined Nov 2005
L3: Novice
> bubble2 349 Posts
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Icrackcorn
04-01-2023 at 11:55 AM.
04-01-2023 at 11:55 AM.
Quote from lev280 :
CIT is a division of First Citizens Bank and Trust Co.
Didn't First Citizens just acquire the assets of SVB?

They did. SVB is now "Silicon Valley Bank, a division of First Citizens Bank"
Reply
Joined Jan 2017
New User
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vis77
04-01-2023 at 12:36 PM.

Our community has rated this post as helpful. If you agree, why not thank vis77

04-01-2023 at 12:36 PM.
When determining citizenship, please choose if you are a current US Citizen or lawful permanent resident with authorization to live in the United States, such as a Green Card.
Unfortunately CIT Bank is unable to open accounts for non-permanent residents.
2
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Joined Mar 2010
L5: Journeyman
> bubble2 803 Posts
coli
04-01-2023 at 12:39 PM.
04-01-2023 at 12:39 PM.
Just buy treasuries and don't risk it.
1
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