CD Accounts
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Last Updated: 12/17/2025
SuperMoney User Recommendation Score +85
Strongly recommended34 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
0.3% - 3.50%(Verified 06/21/2024)
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $1,000
Disclaimer popup with additional information
Certificate Term
- 6 months
- 12 months
- 13 months
- 18 months
- 2 years
- 3 years
- 4 years
- 5 years
Number of Reviews
CIT Bank Term CD Review
CIT Bank Term CD are offered by CIT Bank, a bank founded in 1908 and based in Raleigh, NC. CIT Bank CD are available in 50 states and Washington, DC.
Key Takeaways
- Only one CD type available. CIT Bank CD only offers traditional CD accounts.
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 3.50%, which is much higher than the national average for a CD account.
- $1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
- Wide selection of CD terms. CIT Bank CD allows you to create a CD ladder by spreading your cash across certificates with different terms. This combines the benefits of frequent access to funds and higher rates of return on your savings.
Pros & Cons of CIT Bank Term CD
| Pros | Cons |
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CIT Bank Term CD FAQ
Are CD from CIT Bank federally insured?
Yes, your CIT Bank CDs are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #58978). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.
What types of CDs does CIT Bank offer?
CIT Bank CD provides the following types of CDs.- Traditional CDs. These CDs pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the CDs for another term.
What rates does CIT Bank offer on its CDs?
CIT Bank CD offers an APY starting at 0.3% and ranging up to 3.50%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.
What terms does CIT Bank CD offer?
CIT Bank offers CD terms of the following lengths:| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Certificate Term |
| ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 12-Month APY | 0.3% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| APY (Annual Percentage Yield) | 0.3% - 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 6-Month APY | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 2-Year APY | 0.4% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 3-Year APY | 0.4% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 4-Year APY | 0.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 5-Year APY | 0.5% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 18-Month APY | 3.00% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 13-Month APY | 3.50% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What is the minimum deposit to open a CD account with CIT Bank?
CIT Bank CD require a minimum deposit of $1,000 to open an account.
What is the grace period for CIT Bank CD?
There is a 10-day grace period for CIT Bank CD. A grace period is a period of time during which you can withdraw the money in your CD without paying an early withdrawal penalty. A grace period starts the day after a CD’s maturity date, or the final day a CD is opened. Standard CDs renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new CD rates probably won’t be the same as the original.
What types of fees, such as early withdrawal penalties, does CIT Bank charge?
Financial institutions don't typically charge many fees on CDs. However, most charge a fee if you choose to withdraw your money before the term ends.
CIT Bank charges an early withdrawal fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Annual Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Transfer Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
CIT Bank Term CD Disclosure: CIT Bank, N.A. and OneWest Bank, a division of CIT Bank, N.A. are the same FDIC-insured institution. Deposits held under each name are not separately insured, but are combined to determine whether a depositor has exceeded the $250,000 federal deposit insurance limit, per depositor for each account ownership category. For purposes of calculating aggregate deposits held in CIT Bank, N.A., you should include deposits held in OneWest Bank, a division of CIT Bank, N.A.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
Hours of Operation
Sunday
Closed
Monday
7:00AM - 7:00PM
Tuesday
7:00AM - 7:00PM
Wednesday
7:00AM - 7:00PM
Thursday
7:00AM - 7:00PM
Friday
7:00AM - 7:00PM
Saturday
Closed
Other Services by CIT Bank
Other CD Accounts from CIT Bank
APY (Annual Percentage Yield)
3.50%
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $1K
Certificate Term
11 months
APY (Annual Percentage Yield)
0.25%
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $25K
Certificate Term
- 12 months
- 2 years
- 3 years
- 4 years
APY (Annual Percentage Yield)
0.4% - 0.5%
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $100K
Certificate Term
- 2 years
- 3 years
- 4 years
- 5 years
Rating not yet determined
APY (Annual Percentage Yield)
0.1% - 0.45%
Disclaimer popup with additional information
Minimum Opening Deposit
Starting at $1K
Certificate Term
- 3 months
- 6 months
- 9 months
- 12 months
- 13 months
- 18 months
- 2 years
- 3 years
- 4 years
- 5 years
SuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +85, or 4.7 on a 5-point rating scale.
+85
-1000+100
No one recommends
Everyone recommends
CIT Bank Term CD Community Reviews
Would you recommend CIT Bank Term CD to your friends?
RA
Rahab A.
Feb 3, 2023
May or may not recommend
CIT Bank offers a few savings account products, an online checking account, and other personal and business banking products and services. Overall, CIT Bank is a great alternative to traditional banking. Its rates are competitive enough while offering flexibility and multiple solutions to fit most people’s banking needs.
D M.
Jan 21, 2023
May or may not recommend
I would highly recommend using this company. It is easy to use
Free L.
Nov 14, 2022
May or may not recommend
his was a terrible experience for me. I just opened this online savings account, and could not even make a transfer after verifying micro deposits.. Also the wait times to find out what was going on with my account were unreasonably long and was disconnected after waiting several times.
CS
Celeste S.
Nov 10, 2022
May or may not recommend
I would recommend CIT Bank Term CD CD Accounts because you can lock in interest rates. There is a no penalty for 11 month CD. I like that there are Personal, Business, and Commercial options available. I do not like that the minimum deposit is $1,000.
Elisa H.
May 21, 2022
May or may not recommend
I like the benefits they are giving to me, I recommend CIT because they are giving the best interest rates as well.
Yasin Z.
Mar 26, 2022
May or may not recommend
I have tried this bank so much that I recommend those who work with me to improve their income to register with them and deposit in it
SR
Santiago R.
Feb 5, 2022
May or may not recommend
While it is true that interest rates for CDs plummeted at the beginning of the pandemic (March 2020) and currently having money in a checking or savings account in any bank is paid at 0%, it is better to evaluate some of the options offered by CIT Bank, I have chosen a 6-month CD at 0.30% which is more than what my current bank offers me. It is not much, ...Show More
TW
Tyra W.
Feb 3, 2022
May or may not recommend
I recommend CIT Cd accounts because it's always good to have a CD account and their starting deposit is fairly low.
Jas T.
Jan 30, 2022
May or may not recommend
As a young adult who’s trying to build credit while working, I recommend Cit as your online banking choice.
At first my only con was that there is no free atm
network and the sign-up fee is considered “pricy”amongst others but it has no monthly fees for your checking and savings account. And in my book, compared to other online banking sites, it’s a win-win.
Once your adjust it the way ...Show More
SS
Shelly S.
Jan 14, 2022
May or may not recommend
They have the high interest rates, available in all 50 states and their customer services is just awesome. you need only $1000 to open up the account ,just great.
RC
Ryan C.
Jan 5, 2022
May or may not recommend
I recommend this to others. Not too much for myself. I love the benefits I love the fact that you could lock in the interest rate. What is not appeasing about this to me is the security. I think security should be on all the CDs but, I understand why it isn't.
KD
Keith D.
Jan 4, 2022
May or may not recommend
well, I love the fact the bank webpage interface is easier and it is responsive one. The bank CD is detecting a third party in one's account is great and there is a need for authorization for any other party to get logged into the account. The bank Term Cd on fraud is great as the immediate hold account after detection help secure funds. I personally had and experience with ...Show More
Muhammad A.
Jan 4, 2022
May or may not recommend
In addition to offering attractive annual percentage yields (APYs) on its savings accounts, CIT Bank is also available as a mobile app. I would recommend a CIT Bank Term CD because it is the quickest and most straightforward approach to grow your money without putting it at risk of losing value.
NM
Noria M.
Dec 30, 2021
May or may not recommend
The minimum deposit required to open seems to be a bit far fetched
MS
Marty S.
Sep 30, 2021
May or may not recommend
CIT Bank Term CD Account is a very easy to use account with a lot of features. One interesting part is that it only requires a minimum of a thousand dollars to create the account. That is by far the lowest I’ve seen so far. My money is also insured so I don’t have to worry about the security of my money. I also enjoy an High APY. I would ...Show More
ET
El T.
Aug 25, 2021
May or may not recommend
I’d recommend PenFed Credit Union Certificates, Outstanding service and great rates interest.
Andrew H.
Aug 12, 2021
May or may not recommend
Great online bank makes it conveinient to bank from anywhere, also helps them keep their costs down which they pass on to you with great products.
Socheath T.
Aug 11, 2021
May or may not recommend
They have the best high-yield Savings Connect and e-Checking options to help your money earn WAY more just by sitting there than it would in a regular account. It’s a great way to grow your funds for a down payment on a home.
WM
William M.
Jul 20, 2021
May or may not recommend
I really love this account because of the high APY. Its the highest I've found.
SJ
Saim J.
Jul 19, 2021
May or may not recommend
CIT Bank most trust able bank. Highly recommended to all users for better banking
Showing 20 of 34 reviews
