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Last Updated: 04/18/2025

OneWest Bank CD

from CIT Bank

Last Updated: 04/18/2025

Rating not yet determined2 total votes

2 users recommend

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Highlights

APY (Annual Percentage Yield)

0.1% - 0.45%(Verified 06/21/2024)

Disclaimer popup with additional information

Minimum Opening Deposit

Starting at $1,000

Certificate Term

3 months
6 months
9 months
12 months
13 months
18 months
2 years
3 years
4 years
5 years

OneWest Bank CD Review

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

Key Takeaways

Low APY. The maximum annual percentage yield for this account is only 0.45%.
$1,000 minimum deposit. This is a typical minimum initial deposit for the CDs we track.
Wide selection of CD terms. OneWest 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 OneWest Bank 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.

OneWest Bank 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?

OneWest 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.
Jumbo CDs. A jumbo CD requires a higher minimum balance than that required by traditional CDs. In exchange, jumbo CDs pay higher interest rates.
IRA CDs. An IRA CD is a type of IRA that consists entirely of CDs. In general, you can invest in CDs in any IRA, but OneWest Bank CD offers a CD that is specifically for retirement.

What rates does CIT Bank offer on its CDs?

OneWest Bank CD offers an APY starting at 0.1% and ranging up to 0.45%. APY stands for annual percentage yield and shows the interest rate paid by the CD after taking into account compounding.

What terms does OneWest Bank CD offer?

CIT Bank offers CD terms of the following lengths:

OneWest Bank CD Rates & Terms

Description

Certificate Term

3 months
6 months
9 months
12 months
13 months
18 months
2 years
3 years
4 years
5 years

3-Month APY

0.1%

12-Month APY

0.25%

APY (Annual Percentage Yield)

0.1% - 0.45%

6-Month APY

0.1%

2-Year APY

0.35%

3-Year APY

0.4%

4-Year APY

0.4%

5-Year APY

0.45%

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

OneWest Bank CD require a minimum deposit of $1,000 to open an account.

What is the grace period for OneWest Bank CD?

There is a 7-day grace period for OneWest 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 7-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.

OneWest Bank CD Fees

Description

Transfer Fee

$25

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Message from OneWest Bank CD

Our versatile CDs are tailored for both high performance and your savings needs. When it comes to saving, many investors want to gain access to their money while also taking advantage of the best interest rates available. Our CDs, as an example, provide predictable liquidity while offering great rates by holding your funds for a set term. Access to 24/7 banking through online, mobile and via an automated telephone, Competitive rates, Terms of 3 months to 5 years.

Contact

Headquarters

4300 Six Forks Rd

Raleigh, NC 27609

(877) 741-9378

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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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

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CIT Bank Term CD

Strongly recommended

34 reviews

APY (Annual Percentage Yield)

0.3% - 3.50%

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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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CIT Bank Jumbo CD

Strongly recommended

27 reviews

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

Visit Site

SuperMoney Net Recommendation Score

Not enough SuperMoney users have reviewed this product to provide a recommendation score or rating.

+100

-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.

OneWest Bank CD Community Reviews

Would you recommend OneWest Bank CD to your friends?

Neha V.

Jul 18, 2021

May or may not recommend

I was very grateful and pleased to have open an account with them. Its a very professional and helpful customer service. Rates and services are amazing too.

Amy W.

Dec 20, 2020

May or may not recommend

I had put some of my tax money away for my child in a Certificate of Deposit. I had the intention of saving the money for her college education. One house fire and we were out of a home. OneWest Bank allowed me to close the account early without the early withdrawal fee that I had to pay at my Husband's bank. I was very grateful to have done business ...Show More

Showing 2 of 2 reviews