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CIT Bank No-Penalty CD

in CD Accounts from CIT Bank

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CIT Bank No-Penalty CD

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Highlights
Highlights
Minimum Deposit $1,000
APY (Annual Percentage Yield) 1.85%
Deposit Term 11 months

CIT Bank No-Penalty CD Review

CIT Bank No-Penalty CD is offered by CIT Bank, a bank founded in 2000 and based in Salt Lake City, UT. CIT Bank No-Penalty CD is available in 50 states (and Washington, DC).

Are cd accounts from CIT Bank federally insured?

Yes, your CIT Bank cd accounts 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?

  • Liquid
  • Traditional

What APY does CIT Bank offer on its CDs?

CIT Bank No-Penalty CD offers an APY of 1.85% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What types of terms does CIT Bank No-Penalty CD offer?

CIT Bank offers CD terms of the following lengths:
CIT Bank No-Penalty CD Rates & Terms
Description
APY (Annual Percentage Yield) 1.85%
APY Type Fixed APY
3-Month APY N/A
6-Month APY N/A
11-Month APY 1.85%
12-Month APY N/A
2-Year APY N/A
3-Year APY N/A
4-Year APY N/A
5-Year APY N/A
7-Year APY N/A

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

CIT Bank No-Penalty CD requires a minimum initial deposit of $1,000 to open an account.

What types of early withdrawal penalties does CIT Bank No-Penalty CD charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

CIT Bank does not charge an early withdrawal fee.

CIT Bank No-Penalty CD Fees
Description
No Early Withdrawal Fee? Yes
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Availability

Alaska Alabama Arkansas Arizona California Colorado Connecticut Washington, D.C. Delaware Florida Georgia Hawaii Iowa Idaho Illinois Indiana Kansas Kentucky Louisiana Massachusetts Maryland Maine Michigan Minnesota Missouri Mississippi Montana North Carolina North Dakota Nebraska New Hampshire New Jersey New Mexico Nevada New York Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Virginia Vermont Washington Wisconsin West Virginia Wyoming
  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

Grace Period for Account Changes 10
No Early Withdrawal Fee  
Minimum Deposit $1,000
11-Month APY 1.85%
APY (Annual Percentage Yield) 1.85%
CD Accounts
  • Liquid
  • Traditional

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