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CIT Bank 11 Month No-Penalty CD: Earn Expired

4.90% APY*
-24 Deal Score
294,425 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
294,425 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 Oct 2015
New User
> bubble2 4 Posts
10 Reputation
tom_gumps
06-15-2023 at 05:20 AM.
06-15-2023 at 05:20 AM.
Got their platinum savings. No issues. Broke people complain a lot about nothing.
3
Reply
Joined Apr 2004
L6: Expert
> bubble2 1,976 Posts
257 Reputation
darkhunter
06-15-2023 at 03:25 PM.

Our community has rated this post as helpful. If you agree, why not thank darkhunter

06-15-2023 at 03:25 PM.
I had mine lock at 5% at capital one. 200k makes about 800 a month.
1
Reply
Joined Aug 2007
L5: Journeyman
> bubble2 757 Posts
677 Reputation
freek
06-15-2023 at 05:33 PM.
06-15-2023 at 05:33 PM.
Quote from chazjr :
Invest in US Treasury Bills | Get a 5.4% yield on Public.com
https://public.com/invest/treasuries
They charge a fee of atleast 0.60% per annum.
Reply
Joined Feb 2010
L4: Apprentice
> bubble2 337 Posts
93 Reputation
awstickyicky
06-16-2023 at 10:33 AM.
06-16-2023 at 10:33 AM.
CIT's platinum savings account interest rate appears to have recently increased to 4.95% (for $5k minimum balance). Hard to beat if you want a simple place to stash your money.
Reply
Joined Dec 2022
L3: Novice
> bubble2 269 Posts
14 Reputation
HonestSink770
06-16-2023 at 12:10 PM.
06-16-2023 at 12:10 PM.
Do these banks allow more than 6 transfers per month? Is there a fee for that.
Reply
Joined Nov 2015
Slicker than deal
> bubble2 1,578 Posts
267 Reputation
Playstation4
06-17-2023 at 06:42 PM.
06-17-2023 at 06:42 PM.
This is the worst uswr experience ever. Their site feature is always broken. Van't deposit or withdraw without customer service.
Reply
Joined Nov 2015
Slicker than deal
> bubble2 1,578 Posts
267 Reputation
Playstation4
06-17-2023 at 06:43 PM.
06-17-2023 at 06:43 PM.
Quote from awstickyicky :
CIT's platinum savings account interest rate appears to have recently increased to 4.95% (for $5k minimum balance). Hard to beat if you want a simple place to stash your money.

How long does 4.95% last tho.
Reply

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Joined Dec 2008
L4: Apprentice
> bubble2 458 Posts
22 Reputation
bhome83
06-18-2023 at 01:33 PM.
06-18-2023 at 01:33 PM.
I had a no penalty cd 2 yrs ago with cit. No issues. Also, I'm not aware of any other fixed income product like this that allows you to cash out w/o penalty whenever you want. You pay taxes on income but all the other options where you don't have to pay taxes you have to lock your money for a fixed term. Unless I'm missing something…
Reply
Joined Apr 2011
G
> bubble2 456 Posts
279 Reputation
FeederFree
06-18-2023 at 04:36 PM.
06-18-2023 at 04:36 PM.
Has anyone done 5.5% CD from FirstHorizon? Want to see if anyone has any experience before I pull the plug. There is PD but not worried as I wouldn't need the money
Reply
Joined Jul 2020
L2: Beginner
> bubble2 51 Posts
26 Reputation
TealSeed3969
06-19-2023 at 01:25 PM.
06-19-2023 at 01:25 PM.
Lots of banks on Savebetter.com provide much better rates than all these recent promotions.
Reply
Joined Nov 2007
L3: Novice
> bubble2 298 Posts
24 Reputation
VitaminWater
06-19-2023 at 03:20 PM.
06-19-2023 at 03:20 PM.
Quote from slickkick :
Is there an investment option that doesn't pay federal taxes?

T bills
2
Reply
Joined Oct 2021
L2: Beginner
> bubble2 62 Posts
44 Reputation
SmilingHorn700
06-21-2023 at 06:34 AM.
06-21-2023 at 06:34 AM.
Quote from VitaminWater :
T bills

T Bills still require Federal taxes. They are state tax exempt, though.
Reply
Joined Aug 2009
L10: Grand Master
> bubble2 9,277 Posts
1,102 Reputation
woodygg
06-21-2023 at 11:14 AM.
06-21-2023 at 11:14 AM.
Quote from slickkick :
Is there an investment option that doesn't pay federal taxes?
bookie
Reply
Joined Oct 2017
New User
> bubble2 2 Posts
10 Reputation
harikishore0
06-21-2023 at 11:06 PM.
06-21-2023 at 11:06 PM.
Quote from CheapyDinglebop :
Is this callable? Can you add funds after initial deposit? Sorry couldn't find this info anywhere on the site.
no you can't add funds after your initial deposit. i found this out when i talked to their customer care agents
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Joined Sep 2015
New User
> bubble2 8 Posts
10 Reputation
NagmaF
06-22-2023 at 07:30 AM.
06-22-2023 at 07:30 AM.
If I invest 200K, howlong does it take to withdraw and tranfer back to bankofamerica?
Reply
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