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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
in
Finance
CIT Bank
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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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Examples: 9 months at 5.4+ from PNC, Zions, Bank of China, Independent, JP Morgan, Beal, Goldman, Meadows.
12 months at 5.4%+ from Minnwest, Goldman, US Bank, JP Morgan, Beal
Used them for years no issues
So many better alternatives exist for sophisticated investors - Treasury Bills, TIPS, etc.
In current environment bank savings accounts and even CDs are (mostly) a bad deal.
Sophisticated investors. Lol. It's hardly sophisticated.
It's FDIC insured, so 250k below deposit should be very safe
I only use them for a high yield platinum savings account, and I've had zero issues. I don't expect many problems either as I intend to mostly just sit and let my interest collect, and I set up some automatic payments - all has been just fine and as expected.
Not a whole lot to go wrong if you aren't frequently engaging or anything. No loans to deal with. They seemingly suck more in those regards, but that has no impact on me and in my situation.
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Examples: 9 months at 5.4+ from PNC, Zions, Bank of China, Independent, JP Morgan, Beal, Goldman, Meadows.
12 months at 5.4%+ from Minnwest, Goldman, US Bank, JP Morgan, Beal
These are considered the safest and most "risk free" investments. Of course governments can go bankrupt and then it sucks, like in Argentina. But then the CD accounts won't help either.
Edit: you can of course buy US government bonds directly from the US treasury, they have a .gov site for this. The upside of using a brokerage account is that one can also just sell them and not wait until maturity, if needed. So it's also added liquidity (but their price might drop, while the return at maturity is always promised).
These are considered the safest and most "risk free" investments. Of course governments can go bankrupt and then it sucks, like in Argentina. But then the CD accounts won't help either.
Edit: you can of course buy US government bonds directly from the US treasury, they have a .gov site for this. The upside of using a brokerage account is that one can also just sell them and not wait until maturity, if needed. So it's also added liquidity (but their price might drop, while the return at maturity is always promised).
Whats the ticker symbol of T bill on fidelity? Simply put how do you buy them on fidelity and is there a limit on how much money you can invest in at a T bill?
I buy SGOV for example but there are others
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