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CIT Bank 11 Month No-Penalty CD: Earn Expired

4.90% APY*
-24 Deal Score
296,455 Views
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.

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
Slickdeals may be compensated by CIT Bank
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Edited May 9, 2023 at 10:03 AM by
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Score -24
296,455 Views
4.90% APY*
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Featured Comments

CIT is a subsidy of First Citizen Bank.
Awful , awful reviews

https://wallethub.com/profile/fir...-13003328i
·
We've been with Ally for 10 years and never had a single complaint about them. Customer service is available 24/7 and everyone speaks intelligible English.
·
Just buy them directly from Treasury. The Treasury Direct website won't win any awards for user friendliness, but it's not difficult to set up an account, the search function is very good for finding answers and it's a full service website. And of course there are a zillion resources available on the Internet.

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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Joined May 2021
L3: Novice
> bubble2 157 Posts
89 Reputation
Sabretooth01
11-17-2023 at 06:31 AM.
11-17-2023 at 06:31 AM.
Quote from Blade107 :
Thanks. Is this a CD or Savings?

Can you not see link says Savings/ money market what does that look like
2
Reply
Joined Oct 2006
L7: Teacher
> bubble2 2,009 Posts
105 Reputation
Blade107
11-17-2023 at 06:57 AM.
11-17-2023 at 06:57 AM.
Quote from Sabretooth01 :
Can you not see link says Savings/ money market what does that look like
the link wasnt working then redirected to their main page. I was looking for a CD but it seems yours is a savings right?
Reply
Joined Dec 2007
L5: Journeyman
> bubble2 515 Posts
154 Reputation
Gurney
11-18-2023 at 02:19 PM.
11-18-2023 at 02:19 PM.
https://www.doughroller.net/banki...-cd-rates/
Isn't 5.25% for 15mos the current best no-penalty?
Reply
Joined Jan 2016
L3: Novice
> bubble2 122 Posts
14 Reputation
bobredd
11-19-2023 at 04:34 PM.
11-19-2023 at 04:34 PM.
Robinhood pays you 4.9 lol
Reply
Joined Mar 2014
L2: Beginner
> bubble2 93 Posts
20 Reputation
cookie2020
11-22-2023 at 12:54 PM.
11-22-2023 at 12:54 PM.
Quote from CheapyDinglebop :
Is this callable? Can you add funds after initial deposit? Sorry couldn't find this info anywhere on the site.
Since this is no penalty CD. You can Withdraw the money anytime. You will not be able to add the funds after the initial deposit. You will need to create a new CD with the latest interest rate.
Reply
Joined Jan 2017
L3: Novice
> bubble2 224 Posts
26 Reputation
ajninja21
11-23-2023 at 10:46 AM.
11-23-2023 at 10:46 AM.
Why not just use their savings since it's 5%?
Reply
Joined Nov 2023
New User
> bubble2 6 Posts
10 Reputation
TealMint608
11-23-2023 at 12:31 PM.
11-23-2023 at 12:31 PM.
Completely broken app after the last update. Can't see anything. Junk
1
1
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Joined Nov 2015
Deal Hunter
> bubble2 614 Posts
38 Reputation
Bubbles69
11-23-2023 at 04:17 PM.
11-23-2023 at 04:17 PM.
5% with Wealthfront. Sorry CIT
Reply
Joined Feb 2010
L2: Beginner
> bubble2 95 Posts
30 Reputation
battlestarfan
11-24-2023 at 07:05 PM.
11-24-2023 at 07:05 PM.
I still don't understand why you would do a CD when you can just park money in a money market. I use my fidelity account, SPAXX money market is at 5%. Money can get pulled anytime and put into my savings account locally. No penalties.
Reply
Joined Mar 2008
L2: Beginner
> bubble2 96 Posts
10 Reputation
Frankie4Fingers
11-25-2023 at 04:22 PM.
11-25-2023 at 04:22 PM.
I get higher percentage on my savings account so not that slick of a deal. Who know, 6 months from now interest might be even higher.
1
Reply
Joined Aug 2012
L7: Teacher
> bubble2 2,245 Posts
311 Reputation
SeventiesVet
11-25-2023 at 04:26 PM.
11-25-2023 at 04:26 PM.
Quote from Aslander :
6 month tbill is sitting at 5.15% and state tax free. Makes it the equivalent of roughly a 5.4% CD in most states. Shorter duration, and rates won't be going up in the future, so you decide which is better
^^ This.
Reply
Joined Feb 2008
L3: Novice
> bubble2 273 Posts
311 Reputation
eugenem
12-02-2023 at 07:27 AM.
12-02-2023 at 07:27 AM.
Weak deal. Synchrony bank offers a 14 month CD at 5.65%
Reply
Joined Jun 2019
L5: Journeyman
> bubble2 804 Posts
30 Reputation
BillG7
12-02-2023 at 10:00 AM.
12-02-2023 at 10:00 AM.
I did this one and the ally deal. Both rates are still currently higher than my savings account. I made maybe an extra $50. Not much, but its something. I would be interested in trying the t bills. Ally allows you to roll over into a new cd when the other one ends and gives a .05 extra bonus.
Reply
Joined Sep 2012
L4: Apprentice
> bubble2 499 Posts
102 Reputation
gunbunnysoulja
12-02-2023 at 04:19 PM.
12-02-2023 at 04:19 PM.
I have a 5% 12-month share certificate from Suncoast Credit Union that I can add to all throughout the period (called smart certificate). There is a 90 day penalty on the withdrawal amount if taken but I like the flexibility of adding more to it at the same locked in rate. There are higher out there but I haven't seen anything higher where you can continuously add funds to it. I actually prefer the penalty as it'll refrain me from wanting to touch these funds.
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Joined Dec 2012
L2: Beginner
> bubble2 90 Posts
54 Reputation
Gcornell
12-03-2023 at 10:07 AM.
12-03-2023 at 10:07 AM.
Flagstar/NYCB a fairly large bank with branches in a bunch of states has 7 or 13 months at 5.6%
Reply
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