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CIT Bank 11 Month No-Penalty CD: Earn Expired

4.90% APY*
-24 Deal Score
294,601 Views
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.

Thanks to community member psychojinx for sharing this deal.
  • $1,000 minimum to open
  • No penalty to access funds if needed before maturity
  • No opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • Member FDIC
  • *See site for details
Slickdeals may be compensated by CIT Bank
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Original Post

Written by
Edited May 9, 2023 at 10:03 AM by
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.
  • $1,000 minimum to open
  • No penalty to access funds if needed before maturity
  • No opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • Member FDIC
  • *See site for details
Slickdeals may be compensated by CIT Bank
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Score -24
294,601 Views
4.90% APY*
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Featured Comments

CIT is a subsidy of First Citizen Bank.
Awful , awful reviews

https://wallethub.com/profile/fir...-13003328i
·
We've been with Ally for 10 years and never had a single complaint about them. Customer service is available 24/7 and everyone speaks intelligible English.
·
Just buy them directly from Treasury. The Treasury Direct website won't win any awards for user friendliness, but it's not difficult to set up an account, the search function is very good for finding answers and it's a full service website. And of course there are a zillion resources available on the Internet.

I spoke to Fidelity about buying T-bills or bonds through them and my recollection is that there are two ways to do it, one involves fees and one doesn't. I figured for the same effort it would take to fully understand the difference, I could probably figure out the Treasury Direct site and I was correct about that.

The idea is to balance risk and get a better return than what my bank offer. UST Direct accomplish that with one stop shopping. You get a better rate and don't have to spend ungodly amounts of time chasing rates at unknown banks all over the country.
·

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Joined Apr 2015
L5: Journeyman
> bubble2 804 Posts
54 Reputation
FNwoz
05-09-2023 at 03:30 PM.
05-09-2023 at 03:30 PM.
Quote from CheapyDinglebop :
It's no-penalty, there's no "locking in"...

CIT has this too. It's called Platinum Savings.
2
Reply
Joined Apr 2015
L5: Journeyman
> bubble2 804 Posts
54 Reputation
FNwoz
05-09-2023 at 03:31 PM.
05-09-2023 at 03:31 PM.
Also I should mention I called customer service today and they were great.
1
Reply
Joined Feb 2009
L3: Novice
> bubble2 288 Posts
204 Reputation
alpha_1976
05-09-2023 at 03:40 PM.
05-09-2023 at 03:40 PM.
How do you withdraw money from the no-penalty cd before it matures? I don't see any option. Do you have to call the customer service? Thanks
1
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Joined Nov 2017
L5: Journeyman
> bubble2 755 Posts
293 Reputation
djangi
05-09-2023 at 04:27 PM.
05-09-2023 at 04:27 PM.
CIT has by far the worst app. Looks like some entry level sw engineers developed the gui. Fingerprint never works. Ally app is much much better.
1
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HIDDENdmad05-09-2023 at 05:27 PM.
Joined Sep 2014
L4: Apprentice
> bubble2 341 Posts
38 Reputation
dparky
05-09-2023 at 05:58 PM.
05-09-2023 at 05:58 PM.
CIT has one of the worst customer service from my personal experience. They never reply.
2
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HIDDENholocron05-09-2023 at 06:05 PM.

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Joined Aug 2009
L5: Journeyman
> bubble2 632 Posts
700 Reputation
Junoon123
05-09-2023 at 06:34 PM.
05-09-2023 at 06:34 PM.
I opened an account and called them, it was pretty nice, the person was very friendly and helped me setting up the account.
Solid bank.

Just an FYI, Fed will not let the banks fail. This will not happen your money is safe
2
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Joined Nov 2015
New User
> bubble2 12 Posts
10 Reputation
nickpaji123
05-09-2023 at 06:35 PM.
05-09-2023 at 06:35 PM.
I have few cit bank no penalty 4.8%. Now they have 4.9% no penalty cd. Can I change my 4.8% no penalty cd to 4.9% no penalty cd. Can they transfer the balance from one cd to another cd ?
1
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Joined Jun 2019
L5: Journeyman
> bubble2 804 Posts
30 Reputation
BillG7
05-09-2023 at 06:54 PM.
05-09-2023 at 06:54 PM.
Yep such bs. I called and asked if they could just give me the higher rate and they said I would have to close my 4.8% account and open a new 4.9% account. Probably not worth the hassle though, I mean how much extra $$ would you get with 10k? Like 10 bucks I would estimate? The rep sounded like she was getting these questions all day and was getting cursed out. The only option is to close the account and make another.
1
4
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Joined Apr 2013
New User
> bubble2 12 Posts
10 Reputation
RaymondR5593
05-09-2023 at 06:56 PM.
05-09-2023 at 06:56 PM.
Quote from crazycreations :
If this bank doesnt get enoigh depositors, will they extract everything, freeze your account and go bankrupt leaving you to deal with FDIC?

Just dont put over 250k
Reply
Joined Apr 2013
New User
> bubble2 12 Posts
10 Reputation
RaymondR5593
05-09-2023 at 06:57 PM.
05-09-2023 at 06:57 PM.
Quote from nickpaji123 :
I have few cit bank no penalty 4.8%. Now they have 4.9% no penalty cd. Can I change my 4.8% no penalty cd to 4.9% no penalty cd. Can they transfer the balance from one cd to another cd ?

It's gonna be higher if fed raise one more time
1
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Joined Apr 2013
New User
> bubble2 12 Posts
10 Reputation
RaymondR5593
05-09-2023 at 06:58 PM.
05-09-2023 at 06:58 PM.
Quote from alpha_1976 :
How do you withdraw money from the no-penalty cd before it matures? I don't see any option. Do you have to call the customer service? Thanks

Good luck reaching them they have horrible customer service from experience but hey maybe it's just my experience
1
Reply
Joined Aug 2009
Buy Now. Think Later.
> bubble2 17,433 Posts
8,266 Reputation
Pro
PocketsThick
05-09-2023 at 07:00 PM.
05-09-2023 at 07:00 PM.
Quote from BillG7 :
Yep such bs. I called and asked if they could just give me the higher rate and they said I would have to close my 4.8% account and open a new 4.9% account. Probably not worth the hassle though, I mean how much extra $$ would you get with 10k? Like 10 bucks I would estimate? The rep sounded like she was getting these questions all day and was getting cursed out. The only option is to close the account and make another.
$9 over a 12 month period. Yeah, at your amount it doesn't matter.

Source: https://www.axosbank.com/Tools/Ca...Calculator (change the APY to 4.8 and 4.9 to see the difference. Change the monthly deposit amount to $0).
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Last edited by PocketsThick May 9, 2023 at 07:11 PM.

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Joined Jun 2018
L4: Apprentice
> bubble2 499 Posts
70 Reputation
ArthurT4614
05-09-2023 at 07:12 PM.
05-09-2023 at 07:12 PM.
Is there anyway to do this with $$ that's in ROTH account and without taking it out of Roth account?
2
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