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Last Updated: 04/18/2025

CIT Bank RampUp CD

from CIT Bank

Last Updated: 04/18/2025

Strongly recommended27 total votes

24 users recommend

2 users are unsure

1 users don't recommend

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Highlights

Community Rating

Strongly recommended

APY (Annual Percentage Yield)

0.25%(Verified 06/21/2024)

Disclaimer popup with additional information

Minimum Opening Deposit

Starting at $25,000

Certificate Term

12 months
2 years
3 years
4 years

Number of Reviews

CIT Bank RampUp CD Review

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

Key Takeaways

Small selection of CD account types. CIT Ramp Up CD only offers bump up and traditional CDs.
Low APY. The maximum annual percentage yield for this account is only 0.25%.
High minimum deposit. You must deposit a minimum of $25,000, which is high compared to most CD accounts.
Wide selection of CD terms. CIT Ramp Up 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 RampUp 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 RampUp 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 Ramp Up 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.
Bump-up CDs. Bump-up CDs allow you to increase the interest rate you earn on your savings if the going interest rates rise. These CDs are useful in a changing interest rate environment.

What rates does CIT Bank offer on its CDs?

The CD rates for this account have an APY of0.25% (APY stands for annual percentage yield, rates may change).

What terms does CIT Ramp Up CD offer?

CIT Bank offers CD terms of the following lengths:

CIT Bank RampUp CD Rates & Terms

Description

Certificate Term

12 months
2 years
3 years
4 years

12-Month APY

0.25%

APY (Annual Percentage Yield)

0.25%

2-Year APY

0.25%

3-Year APY

0.25%

4-Year APY

0.25%

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

CIT Ramp Up CD require a minimum deposit of $25,000 to open an account.

What is the grace period for CIT Ramp Up CD?

There is a 10-day grace period for CIT Ramp Up 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.

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

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12 Reviews

Money Market Accounts

8 Reviews

Savings Accounts

3 products

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Other CD Accounts from CIT Bank

CIT Bank No-Penalty CD

Strongly recommended

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APY (Annual Percentage Yield)

3.50%

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Minimum Opening Deposit

Starting at $1K

Certificate Term

11 months

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CIT Bank Term CD

Strongly recommended

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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
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CIT Bank Jumbo CD

Strongly recommended

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APY (Annual Percentage Yield)

0.4% - 0.5%

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Minimum Opening Deposit

Starting at $100K

Certificate Term

2 years
3 years
4 years

5 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
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18 months
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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

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 RampUp CD Community Reviews

Would you recommend CIT Bank RampUp CD to your friends?

Celeste S.

Nov 10, 2022

May or may not recommend

I would not recommend CIT Bank RampUp CD CD Accounts because there is only a small selections of CD accounts so members are limited with their money. An initial deposit of $25,000 is required which I think is too high for too few options. The APY is only 0.25%. Look out for the penalty options.

Sachida J.

Jun 14, 2022

May or may not recommend

I absolutely love my CIT Bank RampUp CD account! The interest rate is very competitive and I appreciate the ability to increase my interest rate once during the term of the CD. I also like that I can make deposits into my account at any time without penalty. This is a great account for anyone looking for a safe place to park their money and earn a decent return.

Tamirah S.

May 2, 2022

May or may not recommend

The company is excellent with great benefits. I solely 100% recommend them because they are eager to help their customers.

Sophonie S.

Apr 22, 2022

May or may not recommend

Citi Bank is extremely competitive and provides amazing customer service. The CD rates are also competitive when comparing to other standard CDs. The RampUp CD rates also allots an add-on deposit which isn't offered by other competitors so that is a plus!

Kimberly R.

Apr 14, 2022

May or may not recommend

CIT Bank is first in customer service. They are knowledgeable and professional and the process is easy to navigate. Highly recommended!

Vanessa J.

Apr 12, 2022

May or may not recommend

I appreciate that I can easily do all of my banking with Citi Bank and the customer service is great. The deposit amount to open a CD account, however, is not ideal.

Ajoke W.

Mar 28, 2022

May or may not recommend

From start to finish it was an easier experience than i anticipated,Everyone involved was great and easy to deal with.

Tresttan W.

Mar 24, 2022

May or may not recommend

There cd is greatly formatted and holds great potential by offering the current market APY unlike most others, of course 1000 dollar startup is a bit of a stretch, especially if the yield is just gonna add $5 with 0.50% In a year. Besides that I believe they make getting into cds pretty easy with many different examples, explanations, and even articles to make even a fresh user feel comfortable ...Show More

Monika P.

Mar 11, 2022

May or may not recommend

Pros: We can change the saving interest rate in Bump up CDs, it also offers the options at maturity periods such as to continue with the scheme or to withdraw the money by the term period. Cons: 25000$ is required amount to be deposited to create an account.

Natalie L.

Mar 10, 2022

May or may not recommend

I have been with Citi bank for years. I have a checking account, a savings account, and a student loan with them. They are by far the most competitive and I am always receiving good customer service. I like that I can do all my banking in-store and online, so it is never a hassle. Though I have had started with some banks of recent, but CITI Bank is by ...Show More

Sumaiyah S.

Mar 10, 2022

May or may not recommend

I would recommend CIT Bank because, the yield on the bank’s money market account is competitive. The account has no monthly fee and the top APY is earned on any balance. It only requires $100 to open, making it a good option for most savers.

Christina B.

Mar 1, 2022

May or may not recommend

this company seems to do a great job lowering your interest rate, and has affordable offers people who want to take out loans.

Bonnie M.

Feb 23, 2022

May or may not recommend

About a month ago, I opened a CD as a new customer. There are no issues. The initial set-up, transfer of funds, and subsequent logging on have all been simple and trouble-free.

Bobmanuel O.

Feb 23, 2022

May or may not recommend

I would recommend this bank to friends and family. I enjoyed every experience with this bank.

Emily A.

Aug 27, 2021

May or may not recommend

Good APY, simple, and easy to enroll. I would recommend.

El T.

Aug 25, 2021

May or may not recommend

Full service. Friendly and knowledgeable staff. very competitive rates and No hidden fees.

Andrew H.

Aug 12, 2021

May or may not recommend

Better returns in some of their other products with lower minimums. Especially if you split your money up between several accounts and term lengths.

Travis J.

Jul 23, 2021

May or may not recommend

Doing business here for some time great rates and trustworthy business.

Maci B.

Jul 14, 2021

May or may not recommend

I would using this company for CD accounts I had a great experience with them

Aven W.

Jun 24, 2021

May or may not recommend

CIT Bank is a fully digital bank that offers competitive deposit and home lending solutions. It is owned by CIT, which began providing business financing in St. Louis in 1908. CIT Bank was founded in 2011 to provide a broad range of banking products only online, as the bank has no branches or ATMs. CIT Bank's checking, savings, and money market accounts are all fee-free. Due to the bank's lack ...Show More

Showing 20 of 27 reviews