I don't think CIT has anything to do with Citibank.
All fdic insured bank has a 250k protection from the federal government.
You can do this with treasurydirect.gov or a brokerage site like schwab, fidelity, or vanguard etc. They are federally taxed but not state. The latest 4 week t-bill was almost 6%
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When I log in, it still says 4.736%.
When I log in, it still says 4.736%.
So, it is 4.85 APY....check your math
Nothing to beware of! Once you buy you're locked in. The government has never defaulted on these. Conspiracy theory much?