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CIT Bank 11 Month No-Penalty CD: Earn Expired
4.90% APY*
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.
Thanks to community member psychojinx for sharing this deal.
Thanks to community member psychojinx for sharing 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 10:03 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
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Awful , awful reviews
https://wallethub.com/profile/fir...-13003328i
I spoke to Fidelity about buying T-bills or bonds through them and my recollection is that there are two ways to do it, one involves fees and one doesn't. I figured for the same effort it would take to fully understand the difference, I could probably figure out the Treasury Direct site and I was correct about that.
The idea is to balance risk and get a better return than what my bank offer. UST Direct accomplish that with one stop shopping. You get a better rate and don't have to spend ungodly amounts of time chasing rates at unknown banks all over the country.
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Yes that's the money market account... But its not a fixed rate.
Last time I checked 4.9% is better and this isn't a traditional cd. You're not really buying anything. Just fund an account and cash out anytime after 7 days. Perk is locked in rate. Negative is you can't move money in and out. You have to withdraw the entire amount.
I spoke to Fidelity about buying T-bills or bonds through them and my recollection is that there are two ways to do it, one involves fees and one doesn't. I figured for the same effort it would take to fully understand the difference, I could probably figure out the Treasury Direct site and I was correct about that.
The idea is to balance risk and get a better return than what my bank offer. UST Direct accomplish that with one stop shopping. You get a better rate and don't have to spend ungodly amounts of time chasing rates at unknown banks all over the country.
Not to mention treasury securities interest are exempt from state taxes.
And they are not tax free
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What is?
Where
CD's are locked in unless you want to pay a penalty. Why would you lock your cash up at capital ones 12 month 5% cd when you can get a 4.9% no penalty cd? This is a guaranteed rate for 11 months that you can take out anytime with no penalty. That freedom is worth it for many. Money market/banks are variable rates. This is a good option. Can't compare this to traditional cd's.
How do you do treasury direct I'm new to this
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Give Raisin a try. Savings/CD aggregator that has great rates. Can get a higher rate there on variety of terms from various FDIC insured banks.