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CIT Bank 11 Month No-Penalty CD: Earn Expired

4.90% APY*
-24 Deal Score
305,353 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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Original Post

Written by
Edited May 9, 2023 at 11:03 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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Score -24
305,353 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 Jan 2008
L5: Journeyman
> bubble2 769 Posts
119 Reputation
Diz
12-03-2023 at 12:15 PM.
12-03-2023 at 12:15 PM.
Quote from Gcornell :
Flagstar/NYCB a fairly large bank with branches in a bunch of states has 7 or 13 months at 5.6%
5.5% - https://www.flagstar.com/personal...ounts.html
Reply
Joined Apr 2006
L10: Grand Master
> bubble2 9,681 Posts
1,049 Reputation
Tnyc
12-05-2023 at 05:01 PM.
12-05-2023 at 05:01 PM.
Guys, Ally is currently having a 8 month Select CD at 5.25%. No min, no fees... Might want to sign up and lock in that rate before it's over.
Reply
Joined Jan 2017
New User
> bubble2 5 Posts
10 Reputation
vasunderlakki
12-05-2023 at 05:08 PM.
12-05-2023 at 05:08 PM.
https://banking.citi.com/cbol/OM/...2DE9FEF3C0 : CITI has 11 month CD with 5.25 APY for less than 100k and 5.65 APY for over 100k
Reply
Joined Mar 2017
L2: Beginner
> bubble2 25 Posts
14 Reputation
stephzoltan
12-05-2023 at 09:14 PM.
12-05-2023 at 09:14 PM.
CIT Bank…sounds like the McDowell's of banking.
Reply
Joined Aug 2008
L5: Journeyman
> bubble2 646 Posts
70 Reputation
zbs60
12-05-2023 at 09:52 PM.
12-05-2023 at 09:52 PM.
Quote from MsGal :
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.
Ive been with ally bank for about two years. Probably the best bank ive ever used. They pay more interest than just about any other bank. by far the best customer service. However, I was reading awhile back and they were not rated very high because of some bad loans. But none of these online banks are rated very high.
Reply
Joined Mar 2010
L6: Expert
> bubble2 1,184 Posts
465 Reputation
strycker
12-06-2023 at 05:56 AM.
12-06-2023 at 05:56 AM.
Quote from MsGal :
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 opened a ladder with them last week. Great rates right now. Local banks were horrible long term rates.
Reply
Joined May 2006
L7: Teacher
> bubble2 2,715 Posts
422 Reputation
Pro
tivoboy
12-07-2023 at 01:39 PM.
12-07-2023 at 01:39 PM.
Rates I think have peaked, 5.75-5.9% for 7-12 months CD's seems to be the top - unless the FED raises another 25 bps in Jan? Go online, out of state, whatever as long as they are FDIC insured and each account is under the cap, you're fine. JUST MAKE SURE to cancel or redeem at expiration as some will auto renew you at whatever the current rate is and for similar term or 12 months, sometimes forcing an early withdrawal penalty. So, make some calendar alerts for just before to make sure you're redeeming if that is your preference.
Reply

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Joined May 2006
L9: Master
> bubble2 4,927 Posts
2,070 Reputation
Pro
chazjr
12-09-2023 at 01:37 PM.
12-09-2023 at 01:37 PM.
Best CD Rates of December 2023 (Earn up to 6.50% APY)
https://www.msn.com/en-us/money/personalfinance/best-cd-rates-of-december-2023-earn-up-to-6-50-apy/a... [msn.com]
Reply
Joined Dec 2005
Chief Bottlewasher
> bubble2 1,123 Posts
484 Reputation
candelabra
12-09-2023 at 07:52 PM.
12-09-2023 at 07:52 PM.
Quote from duckeggs :
is CIT good?
its a piece of CIT
Reply
Joined Jun 2019
L2: Beginner
> bubble2 95 Posts
14 Reputation
Samson15
12-10-2023 at 09:03 PM.
12-10-2023 at 09:03 PM.
Quote from tivoboy :
Rates I think have peaked, 5.75-5.9% for 7-12 months CD's seems to be the top - unless the FED raises another 25 bps in Jan? Go online, out of state, whatever as long as they are FDIC insured and each account is under the cap, you're fine. JUST MAKE SURE to cancel or redeem at expiration as some will auto renew you at whatever the current rate is and for similar term or 12 months, sometimes forcing an early withdrawal penalty. So, make some calendar alerts for just before to make sure you're redeeming if that is your preference.

With the rates peaking, would it be better to lock in a long term CD vs short term with a higher apy?
Reply
Joined Jan 2007
L5: Journeyman
> bubble2 516 Posts
112 Reputation
Spotmom
12-11-2023 at 03:28 PM.
12-11-2023 at 03:28 PM.
Quote from duckeggs :
is CIT good?

I have used them off and on for about 5 years. No issues.
Reply
Joined Aug 2016
L9: Master
> bubble2 5,644 Posts
312 Reputation
duckeggs
12-11-2023 at 06:39 PM.
12-11-2023 at 06:39 PM.
Quote from candelabra :
its a piece of CIT
upvoted for punniness
Quote from Spotmom :
I have used them off and on for about 5 years. No issues.
thank you Smilie
Reply
Joined Apr 2017
L2: Beginner
> bubble2 82 Posts
22 Reputation
Jimmie7700
12-13-2023 at 10:01 AM.
12-13-2023 at 10:01 AM.
This isn't a good deal.
1
Reply
Joined Nov 2003
J316: Saved By Grace
> bubble2 1,390 Posts
199 Reputation
JesusFreak
12-13-2023 at 02:07 PM.
12-13-2023 at 02:07 PM.
Quote from Binar :
CIT is a subsidy of First Citizen Bank.
Awful , awful reviews

https://wallethub.com/profile/fir...-13003328i

Okay but why not post the review link for CIT itself? It may be a subsidiary but probably different staff and definitely different modes of service.

https://wallethub.com/profile/cit-bank-13302301i
Reply

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Joined Feb 2010
is PRO
> bubble2 19,010 Posts
4,618 Reputation
Binar
12-13-2023 at 02:43 PM.
12-13-2023 at 02:43 PM.
Quote from JesusFreak :
Okay but why not post the review link for CIT itself? It may be a subsidiary but probably different staff and definitely different modes of service.

https://wallethub.com/profile/cit-bank-13302301i
Fine here you go

https://www.depositaccounts.com/b...-bank.html

same awful reviews on par with what the parent company got
Reply
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