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CIT Bank 11 Month No-Penalty CD: Earn Expired
4.80% APY*
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.
Thanks to staff member LD7 for finding this deal.
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
Original Post
Written by
Edited May 9, 2023
at 08:28 AM
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
Created 03-31-2023
at 01:30 PM
by LD7 | Staff
in
Finance
CIT Bank
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Didn't First Citizens just acquire the assets of SVB?
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.
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You're not locked out if it is a "no penalty" CD.
Not as liquid but still very liquid. Same with brokerage cds
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Not really, but still would prefer a highly rated bank if I'm going to open an account.
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.
This is very true. I had a first hand personal experience.
Same. Mine was reduced down to 0.5% from 4% after about a year. They were offering new accounts around 3.5% at the time. They also didn't give you a way to transfer the money out without paying a $20 fee.
I've had a few CIT savings account over the past several years. I say "a few" because, as others have said, they lowered the rate of my account in the past and either my wife or I would just open a new account with the highest rate and transfer the money to the newer higher rate account.
Recently though, CIT has notified us on 2 occasions that they raised our rate to that of the new account rates. Mine is currently a "Savings Connect" account that was recently raised to 4.5%.
I have no complaints. Online account is easy to setup and use, and transfers have been the same as any other online accounts I've used.
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