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Last Updated: 05/14/2026

CIT Bank Jumbo CD

from CIT Bank

Last Updated: 05/14/2026

Strongly recommended27 total votes

20 users recommend

5 users are unsure

2 users don't recommend

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Highlights

Community Rating

Strongly recommended

APY (Annual Percentage Yield)

0.4% - 0.5%(Verified 06/21/2024)

Disclaimer popup with additional information

Minimum Opening Deposit

Starting at $100,000

Certificate Term

2 years
3 years
4 years
5 years

Number of Reviews

CIT Bank Jumbo CD Review

CIT Bank Jumbo CD are offered by CIT Bank, a bank founded in 1908 and based in Raleigh, NC. CIT Bank Jumbo CD are available in 50 states and Washington, DC.

Key Takeaways

Only one CD type available. CIT Bank Jumbo CD only offers jumbo CD accounts.
Low APY. The maximum annual percentage yield for this account is only 0.5%.
High minimum deposit. You must deposit a minimum of $100,000, which is high compared to most CD accounts.
Wide selection of CD terms. CIT Bank Jumbo 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 Jumbo CD

Pros

Cons

CDs are insured up to FDIC limits.
Multiple CD terms available.
Available in 50 states and Washington, DC.
High-interest yield.

There isn't a no-penalty CD option.
Does not offer an IRA CD.

CIT Bank Jumbo 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 Jumbo 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.
Jumbo CDs. A jumbo CD requires a higher minimum balance than that required by traditional CDs. In exchange, jumbo CDs pay higher interest rates.

What rates does CIT Bank offer on its CDs?

CIT Bank Jumbo CD offers an APY starting at 0.4% and ranging up to 0.5%. 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 Jumbo CD offer?

CIT Bank offers CD terms of the following lengths:

CIT Bank Jumbo CD Rates & Terms

Description

Certificate Term

2 years
3 years
4 years
5 years

APY (Annual Percentage Yield)

0.4% - 0.5%

2-Year APY

0.4%

3-Year APY

0.4%

4-Year APY

0.5%

5-Year APY

0.5%

What is the minimum deposit to open a CD account with CIT Bank?

CIT Bank Jumbo CD require a minimum deposit of $100,000 to open an account.

What is the grace period for CIT Bank Jumbo CD?

There is a 10-day grace period for CIT Bank Jumbo 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.

CIT Bank Jumbo CD Fees

Description

Annual Fee

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.

Contact

Headquarters

4300 Six Forks Rd

Raleigh, NC 27609

(888) 899-0497

Visit Site

Email Support

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

Checking Accounts

12 Reviews

Money Market Accounts

8 Reviews

Savings Accounts

3 products

64 Reviews

Other CD Accounts from CIT Bank

CIT Bank No-Penalty CD

Strongly recommended

30 reviews

APY (Annual Percentage Yield)

3.50%

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Minimum Opening Deposit

Starting at $1K

Certificate Term

11 months

Visit Site

CIT Bank Term CD

Strongly recommended

34 reviews

APY (Annual Percentage Yield)

0.3% - 3.50%

Disclaimer popup with additional information

Minimum Opening Deposit

Starting at $1K

Certificate Term

6 months
12 months
13 months

18 months
2 years
3 years
4 years
5 years

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CIT Bank RampUp CD

Strongly recommended

27 reviews

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

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OneWest Bank CD

Rating not yet determined

2 reviews

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

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SuperMoney Net Recommendation Score

SuperMoney users strongly recommend this product, giving it a user recommendation score of +67, or 4.3 on a 5-point rating scale.

+67

-1000+100

No one recommends

Everyone recommends

The recommendation score reflects customer satisfaction with a provider. A score of +100 means every customer recommends the provider, while -100 means none of them do. These scores are based entirely on community member votes and are not influenced by partner compensation. SuperMoney removes fake reviews when detected.

CIT Bank Jumbo CD Community Reviews

Would you recommend CIT Bank Jumbo CD to your friends?

D M.

Jan 21, 2023

May or may not recommend

I love this brand and company they are open and honest, plus creating an account with them is easy

Celeste S.

Nov 10, 2022

May or may not recommend

I would recommend CIT Bank Jumbo CD CD Accounts because it is designed for high earners. CIT Bank Jumbo allows members to spread their wealth with CD into varying terms. The account is high interest yield so your investments will grow faster. Some important things to pay attention to is a $100,000 deposit is required and there is not a no-penalty CD option or an IRA CD.

Perez N.

Aug 21, 2022

May or may not recommend

My major interest is how it is easily compatible with other money platforms such as Zelle with good interest rates. The customer service is also good. However, I would recommend having some financial counselling session before making the right decision.

Pradip P.

Aug 7, 2022

May or may not recommend

I loved using their service, with great returns and no additional fees.

Maniya D.

Jul 28, 2022

May or may not recommend

I certainly would recommend CIT Bank Jumbo CD CD accounts because of the great benefits to customers and the efficiency.

Celestina C.

Jul 22, 2022

May or may not recommend

CIT has a good interest rate and has various features including no ATM fees and compatibility with mobile payment such as Apple Pay. The application was so easy and the employees/customer service are very kind.

May G.

Jun 7, 2022

May or may not recommend

I think this is a good CD option for some people but not for all. A lot of the features are great including the $0 annual fee and the bank hours. However, a one year option would be something that would be more enticing to me as well as a few Saturday hours for the institution. The minimum deposit amount is competitive with other banks as far as the Jumbo ...Show More

Noam W.

Mar 30, 2022

May or may not recommend

CIT Bank offers a good interest rate, however, it offers a high minimum deposit. It is a good idea for a long-term investment. It is great that it is available across the country.

Cloud K.

Mar 29, 2022

May or may not recommend

CIT Bank offers a checking account and a money market account. Thy are great choice for customers who are looking for savings accounts and CDs that pay above average yields. They require no monthly fees.

Yasin Z.

Mar 26, 2022

May or may not recommend

I tried this bank for a year and it was a very profitable and comfortable experience for me

Christina B.

Mar 9, 2022

May or may not recommend

you can have access to cit cd accounts have greats value service for everyone.

Yannick M.

Mar 9, 2022

May or may not recommend

My biggest pros of CIT bank are the APY and a high yield saving account that they have. Which makes them outstanding.

Presley P.

Mar 6, 2022

May or may not recommend

Competitive rates, various features including no ATM fees, compatibility with mobile pay such as Apple Pay & Zelle, & allows you to restrict/allow use all through the phone.

Shelly S.

Jan 14, 2022

May or may not recommend

This credit Union is just great, I had my very good experience with them, their customer service is awesome and interest rates are great too. I greatly recommend them.

Moneena G.

Nov 16, 2021

May or may not recommend

I would recommend this account to anyone who has saved up enough funds to open an account as reliable as this one. I say this because the minimum deposit for this CD is $100,000, which is quite expensive for a handful of individuals but not for all. However, it is a CD account that should be considered as there is no annual fee, is available in all 50 states of ...Show More

Eleasia N.

Aug 27, 2021

May or may not recommend

CIT Bank really helped me with my saving account and deposits. The process was easy and simple and their customer service was great. I have been with them for a year now and I get benefits because of their high-interest rates. They also instructed me to open my savings account and guided me. Would Recommend!

El T.

Aug 25, 2021

May or may not recommend

I’d recommend CIT Bank Jumbo CD , is a great place to work and a great place to do business. Proud to be a member.

Andrew H.

Aug 12, 2021

May or may not recommend

There are other CD's with better terms at this bank.

Lacey C.

Jul 19, 2021

May or may not recommend

As far as CIT Bank's Jumbo CD I think it is good for people investing with a lot of money. Minimum starting deposit is $100,000 so if you're looking to start a CD with a smaller deposit this isn't for you. If you have that much to deposit I would recommend.

Okera M.

Jul 16, 2021

May or may not recommend

I love this bank. It holds so many perks. I would not recommend it to young adults though. Either way, it is great.

Showing 20 of 27 reviews