CIT Bank CD Rates for 2025
Review
Updated
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CIT Bank CD rates can be rather competitive, especially for certain term lengths and types of accounts. CIT Bank CDs can be a good fit for savers looking to maximize both yield and financial flexibility. Read on to find out whether a CIT Bank CD could meet your needs.
APY = Annual Percentage Yield
CIT is an online bank that offers very competitive rates on certain CD terms, including non-standard promotional terms. If those terms match your need and you have at least $1,000 to deposit (CIT's typical minimum for CDs), it could be a good match.
On CIT's Secure Website.
| 6 Mo. APY | 1 Yr. APY | 13 Mo. APY | 1.5 Yr. APY | 2 Yr. APY | 3 Yr. APY | 4 Yr. APY | 5 Yr. APY |
|---|---|---|---|---|---|---|---|
| 3.00% | 0.30% | 3.50% | 3.00% | 0.40% | 0.40% | 0.50% | 0.50% |
APY = Annual Percentage Yield
CIT is an online bank that offers very competitive rates on certain CD terms, including non-standard promotional terms. If those terms match your need and you have at least $1,000 to deposit (CIT's typical minimum for CDs), it could be a good match.
On CIT's Secure Website.
| 11 Mo. APY |
|---|
| 3.50% |
A high-interest savings account offers rates competitive with the best CDs accounts, but without having to lock your money away for months or even years at a time. Here are some top-rated high-yield savings account options from our experts.
| Account | APY | Promotion | Next Steps |
|---|---|---|---|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
up to 3.80%
Rate info
SoFi members who enroll in SoFi Plus with Eligible Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or SoFi members with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. If you have satisfied Eligible Direct Deposit requirements for our highest APY but do not see 3.80% APY on your APY Details page the day after your Eligible Direct Deposit arrives, please contact us at 855-456-7634. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.
Min. to earn: $0
|
New customers can earn up to a $300 bonus with qualifying direct deposits!
|
Open Account for SoFi Checking and Savings
On SoFi's Secure Website. |
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website.
Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
3.60%
Rate info
See Capital One website for most up-to-date rates. Advertised Annual Percentage Yield (APY) is variable and accurate as of April 8, 2025. Rates are subject to change at any time before or after account opening.
Min. to earn: $0
|
N/A
|
Open Account for Capital One 360 Performance Savings
On Capital One's Secure Website. |
Open Account for Barclays Tiered Savings
On Barclays' Secure Website.
Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
4.00%
Rate info
Balances less than $250,000 earn 4.00%, and balances greater than $250,000 earn 4.20%.
Min. to earn: $0
|
N/A
|
Open Account for Barclays Tiered Savings
On Barclays' Secure Website. |
CIT Bank CD rates are competitive for certain products and term lengths, but not for others. Take a look at what other financial institutions are offering to compare.
| Bank & CD Offer | APY | Term | Min. Deposit | Next Steps |
|---|---|---|---|---|
|
APY:
4.10%
|
Term:
14 Months
|
Min. Deposit:
$500
|
Open Account for
On LendingClub's Secure Website. |
|
|
APY:
4.00%
|
Term:
1 Year
|
Min. Deposit:
$0
|
Open Account for
On Discover Bank's Secure Website. |
|
|
APY:
4.00%
|
Term:
6 Months
|
Min. Deposit:
$1
|
Open Account for
On Raisin's Secure Website. |
CIT Bank offers standard CDs in a variety of term lengths, as well as jumbo and no-penalty CDs. Customers can manage their CDs through the bank's online banking portal or the highly rated CIT mobile app.
| Minimum Deposit | $1,000 |
|---|---|
| Range of Term Lengths | 6 months to 5 years |
| Compounding Schedule | Daily |
| Early Withdrawal Penalty | Terms up to 1 year: 3 months' simple interest;Terms between 1 and 3 years: 6 months' simple interest; Terms more than 3 years: 12 months' simple interest |
| Grace Period | 10 days |
CIT Bank Term CDs are the bank's standard CD product. They have $1,000 minimum opening deposits, and come in a variety of different terms ranging from six months to five years. The most competitive APYs are found on the non-standard 13- and 18-month, as well as the 6-month term length.
CIT Bank only offers one no-penalty CD term. The rate is extremely competitive, but like all CIT Bank CDs, it requires a $1,000 minimum deposit.
| Minimum Deposit | $1,000 |
|---|---|
| Range of Term Lengths | 11 months |
| Compounding Schedule | Daily |
| Early Withdrawal Penalty | None |
| Grace Period | 10 days |
CIT Bank offers a no-penalty CD for people who want to lock in a high APY but don't necessarily want to keep their money locked up. The CIT Bank No-Penalty CD comes in an 11-month term length and pays an extremely competitive interest rate, especially considering that it doesn't penalize early withdrawals. The bank requires the same $1,000 minimum deposit requirement as for standard CDs, which might be a little high for some customers.
Interest rates change frequently. CDs are great because you can open a CD to lock in high rates for the duration of your CD term. Here's a table illustrating what potential earnings could look like if you deposited $1,000.00 into a CIT Bank CD.
The numbers in the table below may not be accurate to current APYs and are for example purposes only.
| Term | APY | Earnings |
|---|---|---|
| 6 Mo. | 3.00% | $15.11 |
| 11 Mo. (No-Penalty) | 3.50% | $32.60 |
| 1 Yr. | 0.30% | $3.00 |
| 13 Mo. | 3.50% | $38.64 |
| 1.5 Yr. | 3.00% | $46.03 |
| 2 Yr. | 0.40% | $8.03 |
| 3 Yr. | 0.40% | $12.07 |
| 4 Yr. | 0.50% | $20.20 |
| 5 Yr. | 0.50% | $25.31 |
Yes, CIT Bank CDs are safe. The bank is an FDIC member, which means accounts are protected for as much as $250,000 per person. CIT Bank is the online division of First Citizens Bank, one of the largest and oldest established banks in the United States.
CIT Bank makes opening a CD account easy. Here's how:
Begin the online sign-up process on the CIT Bank website. CIT Bank is an online-only bank.
Provide address, phone, email and Social Security number. You may need your driver's license.
Choose which CD term to open.
Link your external or CIT Bank checking account to fund your new CD account with at least $1,000. You can also fund your account by wire transfer or mailing a check.
CIT Bank CDs can be a great fit for savers who want to open a CD in one of the bank's term lengths with high APYs (six, 13, or 18 months), or for those who want to lock in a high APY with a no-penalty CD that lets you withdraw money early if you need it.
CIT Bank also offers the following CD accounts:
APY = Annual Percentage Yield
APY = Annual Percentage Yield
At Motley Fool Money, certificates of deposit (CDs) are rated on a scale of one to five stars, primarily focusing on annual percentage yield (APY) and early withdrawal penalty fees. Our highest-rated CDs generally include competitive APYs without complex qualification tiers, low withdrawal fees, reliable brand trust and reputation, and ease of use.
Learn more about how Motley Fool Money rates bank accounts.
The minimum deposit to open a CIT Bank CD is $1,000.
There are no opening or closing fees. If you withdraw from a CIT Bank CD early, you'll pay an early withdrawal fee unless you've opened a no-penalty CD.
You can close a CIT Bank CD early, but it will cost you early withdrawal fees. The exception is the CIT Bank No-Penalty CD, which you can withdraw from without paying fees.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. Motley Fool Money does not cover all offers on the market. Motley Fool Money is 100% owned and operated by The Motley Fool. Our knowledgeable team of personal finance editors and analysts are employed by The Motley Fool and held to the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands. Terms may apply to offers listed on this page. APYs are subject to change at any time without notice.
