Did this coupon
work for you?
work for you?
Sorry, this deal has expired.
Get notified of deals like this in the future.
Add Deal Alert for this Item
Frontpage
CIT Bank 11 Month No-Penalty CD: Earn Expired
4.90% APY*
CIT Bank, our partner, offers the following benefits with their No-Penalty CD.
Thanks to community member psychojinx for sharing this deal.
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
Original Post
Written by
Edited May 9, 2023
at 10:03 AM
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
in
Finance
CIT Bank
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Check Out Similar Finance Deals
View All
467 Comments
Your comment cannot be blank.
Featured Comments
Awful , awful reviews
https://wallethub.com/profile/fir...-13003328i
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.
Sign up for a Slickdeals account to remove this ad.
1. Open a new no-penalty CD account
2. In the funding page for this new CD account, select existing Cit bank account and point it to the older CD. It will transfer all the $ amount from older CD to new CD account
3. Money should move to the new account and old account should be with $0 balance. (Unverified as I am also waiting for this to happen)
Do we lose the 10 days? or will it get credited into the transfer?
I manage all my stocks, cd's, and treasuries in TD Ameritrade. All CD's auto cash on maturity so no auto-renewals to track.
UMPQUA BANK (OR)
5.2% FDIC.
Since CIT seems to only posts the interest at the end of each month... what will happen to the 10 days of interest say if i take my money out today on 05/10 ?
Do we lose the 10 days? or will it get credited?
We've been with Ally for over 10 years and have no complaints. Customer service is available 24/7 and everyone speaks intelligible English.
Since CIT seems to only posts the interest at the end of each month... what will happen to the 10 days of interest say if i take my money out today on 05/10 ?
Do we lose the 10 days? or will it get credited?
Earns interest
Yes.
• Earned on the entire daily balance
• Compounded daily and paid monthly
Effect of closing an account
If you close your account before the end of the term, any accrued interest will be paid on the date the account is closed.
So, it is definitely questionable that you would get the interest for the 10 days since it arguably hasn't "accrued" since it hasn't been paid yet (only paid monthly). Of course, there are multiple ways to interpret this.
Since I'm staying on the safe side, I'm letting the 4.8% ride until the end of the month when the interest is paid and seeing whether this 4.9% option is available then. The difference in interest is pretty small (especially if you factor in the 10 days in interest that you might not get if you switch now). They kept the 4.8% open for a long time, so maybe they will do the same with this 4.9%.
But if anyone has a data point for moving from the 4.8% to the 4.9% and getting all of the interim interest for May credited, please let us know.
Earns interest
Yes.
• Earned on the entire daily balance
• Compounded daily and paid monthly
Effect of closing an account
If you close your account before the end of the term, any accrued interest will be paid on the date the account is closed.
So, it is definitely questionable that you would get the interest for the 10 days since it arguably hasn't "accrued" since it hasn't been paid yet (only paid monthly). Of course, there are multiple ways to interpret this.
Since I'm staying on the safe side, I'm letting the 4.8% ride until the end of the month when the interest is paid and seeing whether this 4.9% option is available then. The difference in interest is pretty small (especially if you factor in the 10 days in interest that you might not get if you switch now). They kept the 4.8% open for a long time, so maybe they will do the same with this 4.9%.
But if anyone has a data point for moving from the 4.8% to the 4.9% and getting all of the interim interest for May credited, please let us know.
Sign up for a Slickdeals account to remove this ad.
I have called them many times with no issues of connecting with an agent to resolve my issues
3-month New issue CDs on fidelity are sitting around 5.10 right now
JPMorgan Chase, Citigroup, Bank of America, Wells Fargo, BNY Mellon, Goldman Sachs, Morgan Stanley & State Street....
Have my IRA in one year brokerage CD's with couple of the above..
Since CIT seems to only credit at the interest at the end of month... what will happen to the 10 days of interest say if i take my money out today on 05/10 ?
Do we lose the 10 days? or will it get credited into the transfer?
Earns interest
Yes.
• Earned on the entire daily balance
• Compounded daily and paid monthly
Effect of closing an account
If you close your account before the end of the term, any accrued interest will be paid on the date the account is closed.
So, it is definitely questionable that you would get the interest for the 10 days since it arguably hasn't "accrued" since it hasn't been paid yet (only paid monthly). Of course, there are multiple ways to interpret this.
Since I'm staying on the safe side, I'm letting the 4.8% ride until the end of the month when the interest is paid and seeing whether this 4.9% option is available then. The difference in interest is pretty small (especially if you factor in the 10 days in interest that you might not get if you switch now). They kept the 4.8% open for a long time, so maybe they will do the same with this 4.9%.
But if anyone has a data point for moving from the 4.8% to the 4.9% and getting all of the interim interest for May credited, please let us know.
Schwab Value Advantage Money Fund SWVXX current yield 4.84% https://www.schwabasset
Vanguard Treasury Money Market Fund VUSXX current yield 4.73% https://investor.vangua
https://www.savebetter.
5.28%
Is there link
Sign up for a Slickdeals account to remove this ad.
https://treasurydirect.