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CIT Bank 11 Month No-Penalty CD: Earn Expired

4.80% APY*
+37 Deal Score
49,091 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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Score +37
49,091 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 Sep 2018
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> bubble2 64 Posts
22 Reputation
LeeD1508
04-01-2023 at 08:13 PM.
04-01-2023 at 08:13 PM.
Quote from rembold :
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.

Agreed on the reducing down interest regularly and w/o notice. But I regularly ACH transfer out of my CIT account without any fees.
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HIDDENillbirz04-01-2023 at 08:17 PM.
Joined Jul 2013
L5: Journeyman
> bubble2 681 Posts
659 Reputation
rembold
04-01-2023 at 08:20 PM.
04-01-2023 at 08:20 PM.
Quote from LeeD1508 :
Agreed on the reducing down interest regularly and w/o notice. But I regularly ACH transfer out of my CIT account without any fees.

Their site shows that an ACH is free now. There used to be a fee for any outgoing funds.
Reply
Joined Feb 2018
L3: Novice
> bubble2 102 Posts
26 Reputation
manfredkwg
04-01-2023 at 08:46 PM.
04-01-2023 at 08:46 PM.
UFB offering 5.02% on savings.

https://www.ufbdirect.com/
3
Reply
Joined Oct 2004
L6: Expert
> bubble2 1,725 Posts
177 Reputation
Passions
04-01-2023 at 10:48 PM.
04-01-2023 at 10:48 PM.
Quote from illbirz :
Daylight robbery...marcus gives 4.5 and its a SAVINGS account. I agree with the few above me.
FAKE NEWS! Marcus is 3.75%.
1
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Joined Oct 2007
L2: Beginner
> bubble2 74 Posts
36 Reputation
gatech311
04-02-2023 at 05:34 AM.
04-02-2023 at 05:34 AM.
Quote from illbirz :
Daylight robbery...marcus gives 4.5 and its a SAVINGS account. I agree with the few above me.
I'm using a CIT savings account with no fees and it's 4.5%. Just went up from 4.2% a couple days ago.
Reply
Joined Feb 2008
L5: Journeyman
> bubble2 697 Posts
72 Reputation
lev280
04-02-2023 at 06:14 AM.
04-02-2023 at 06:14 AM.
Quote from rembold :
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.
Agree that they will offer new products with higher rates and either reduce the rate or keep the rate low on existing products. however, I have NEVER had any trouble moving my money out of CIT or moving it within CIT to the newer higher rate product. For example, I just moved my funds from their Savings Connect to this CD to take advantage of the small 0.3% difference in APY. You just have to be nimble with them in a changing interest rate environment.
Reply

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Joined Oct 2018
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> bubble2 162 Posts
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randomuser29
04-02-2023 at 06:17 AM.
04-02-2023 at 06:17 AM.
Marcus vs ally vs cit which one is more reliable bank with great service? Don't mind .5% rate difference
Reply
Joined Feb 2010
is PRO
> bubble2 18,958 Posts
4,606 Reputation
Binar
04-02-2023 at 06:20 AM.
04-02-2023 at 06:20 AM.
Quote from manfredkwg :
UFB offering 5.02% on savings.

https://www.ufbdirect.com/
Not bad imo
Reply
Joined Nov 2020
L5: Journeyman
> bubble2 769 Posts
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Pro
BeigeIdea523
04-02-2023 at 08:35 AM.
04-02-2023 at 08:35 AM.
Quote from Binar :
Not bad imo
UFB Direct is owned by Axos Bank. Read the Rolling Stone article about them.
1
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Joined Nov 2018
L2: Beginner
> bubble2 32 Posts
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JamesA1248
04-02-2023 at 11:14 AM.
04-02-2023 at 11:14 AM.
Quote from rembold :
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.
ACH withdraws and deposits are free…?
Reply
Joined Nov 2018
L2: Beginner
> bubble2 32 Posts
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JamesA1248
04-02-2023 at 11:17 AM.
04-02-2023 at 11:17 AM.
Quote from lev280 :
Agree that they will offer new products with higher rates and either reduce the rate or keep the rate low on existing products. however, I have NEVER had any trouble moving my money out of CIT or moving it within CIT to the newer higher rate product. For example, I just moved my funds from their Savings Connect to this CD to take advantage of the small 0.3% difference in APY. You just have to be nimble with them in a changing interest rate environment.
If you catch it! It's true…they will sneak it and not tell you. Check the yield frequently if you have a large amount invested…happened to me twice!
Reply
Joined Jul 2018
L2: Beginner
> bubble2 59 Posts
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ExtendaJohn
04-02-2023 at 02:14 PM.
04-02-2023 at 02:14 PM.
Quote from Passions :
FAKE NEWS! Marcus is 3.75%.

Not fake news, I have a 4.75%. You need someone to refer you to get the extra 1.00%
4
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Joined Sep 2013
L4: Apprentice
> bubble2 484 Posts
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drsa78
04-02-2023 at 03:24 PM.
04-02-2023 at 03:24 PM.
Cfg is giving 5.02% on their money market account.
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Joined Feb 2018
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> bubble2 102 Posts
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manfredkwg
04-02-2023 at 08:11 PM.
04-02-2023 at 08:11 PM.
Quote from gatech311 :
I'm using a CIT savings account with no fees and it's 4.5%. Just went up from 4.2% a couple days ago.

Convert that to a Platinum savings and you can make .25% more: 4.75%.

https://www.cit.com/cit-bank/bank/savings
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