CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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I guess, I look for easy way to buy and redeem.
I use stock brokers.
Following are from Fidelity.
Understanding This Table
3mo 6mo 9mo 1yr ...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
I’ve been with CIT for 6 months now including opening up multiple custodial savings accounts for my children. I came from Marcus with Goldman Sachs. They had their issues with the app too. The CIT...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
See my next post below.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
+40 Score
67 Replies
54,364 Views
I can't say yes or no to that since it depends on your finances. But for those who want to invest in a 6-month CD, this deal is bad compared to the 5.3% available from the Fidelity link I provided.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Not a slick deal. 3 months @5.25% and 6 months @5.30% here:
https://fixedincome.fidelity.com/ftgw/fi/FILanding
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Yes, but it was brought back to the FP the other day.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Can I open account today with $0 and fund the CD the next few days? The CD term application state that 'Minimum amount to open is $1000'. It seems that it requires minimum $1,000 the moment I open...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
I've got 6 loaves of white in my pantry right now but I was thinking of diversifying and going with a pumpernickel or maybe just a whole wheat for my next few. Any suggestions?
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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Read the post, I quoted where it said exactly that it was "unavoidable."
I get it, you don't want to hold for the 5 years but saying the penalty is unavoidable is inaccurate, it can be avoiding by...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Is this cd better than the 5.5% from goldman nut sach's?
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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54,364 Views
CIT Bank, our partner, offers the following benefits with their 6-Month CD.
$1,000 minimum to open
No opening or maintenance fees
Daily compounding interest to maximize your earning potential...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Maybe I'm wrong, but isn't a 5.0% APY mean 1-year. How does that work for a 6-month CD? Does that only get half?
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
No idea why this is getting down votes, but the 11 month @4.8% is a no-penalty CD, meaning you can withdraw at any time and keep the interest you accrued. Here, you have to hold for the full 6...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
+40 Score
67 Replies
54,364 Views
Why did this get a thumbs down when a few days ago, the 11 month at 4.8% got 27 thumbs up?
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
It will depend on the terms of the prior CD.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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54,364 Views
There are none. As u note its only for ibonds, even there one can buy more (spouse, trust, etc) if one wants.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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54,364 Views
Treasury bills with similar duration are yielding >= 5%. Treasury bills are more liquid and aren't subject to state tax. You can buy treasury bills through a brokerage account (e.g. Fidelity).
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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APY is Annual Percentage Yield. Yes, at 6 month you will get half. Could be 3-month or 11 month or any months CD. There are calculators to do the math.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Rate not as good. Bask has some issues with Texas ratio score and other factors.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
5% for a 6 month CD is the going rate now. If the fed raises rates again it will go up.
If a recession hits or if the fed starts to lower rates (within the next few years) then you're better off...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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54,364 Views
Expectations as to future rates are priced in to current rates. No one has a clue whether they will go up or down.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
The original post is a few months old
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
good to
invest now?
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
5.27% vanguard money market.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Sorry if someone posted already but I did check and didnt see a response. Is CIT bank a good bank? Their app sucks and they are FDIC insured but is it worth putting your money there? are there other...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
People are actually putting money into this knockoff Citibank app? Typically banks don't have to resort to phishing to attract customers, but I'm not surprised coming from the thinktank behind...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Their app is a lot better now. I use their platinum savings only so I don't need to check or do things on my account constantly and it's fine. Every now and then I transfer money from my chase...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
https://www.cit.com/cit-bank/bank/savings/savings-connect-account
Open this too 4.5% Saving Connect
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Where do you find out about this kind of stuff? Just have a good accountant?
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Just and FYI: If you have a brokerage account you can purchase 1 month or 3 month, New Issue CDs for basically the same interest rate. Good if you don't want to tie up your money for a full 6 months,...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
You earn interest for 6 month at the rate of 5% annualized so say if you were going to earn $50 for the whole year then for 6 months you earn $25. If you wan to earn the $50 then you keep it for a...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Only problem with T-bills is you need atleast one grand increments and even there the interest you get is lower for smaller amounts (when buying in secondary market). I am wondering if money market...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Bread Savings is another option.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Nice!
Now what to do if we hit the big recession before the CD matures. If the Dow gets below 20k again, I’d have a tough time not taking the 6 month interest penalty & moving the money over to...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
Yeah but without getting into too much detail, I’m dealing with multiples of $10k & I-bonds have the $10k limit.
The I-bond rate is reset at least a couple of times per year & could drop, plus the...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
+40 Score
67 Replies
54,364 Views
OP's description is wrong.
This is what's on the website for this product.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
"CIT Platinum Savings account", I just learned...
They kept creating new saving account than modify rate for existing account...
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
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67 Replies
54,364 Views
You can use trusts or LLCs to hold I-bonds as well to surpass that $10k limit. I hold some in an LLC owned by my Roth IRA to avoid the tax on interest.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
+40 Score
67 Replies
54,364 Views
You didn’t even understand what we were talking about. Nobody said it wasn’t avoidable.
CIT Bank 6-Month CD: Earn 5.00% APY*
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Thread created 04-05-2023 by EfficientGame645
+40 Score
67 Replies
54,364 Views
Kind of like the market, it's hard to call the very top.
Rates on the same deal are at 5.15% right now, another hike might move them to 5.4% max. That's an extra $1000 a year on a max $250k...
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