CIT Is Proud To Announce We’ve Raised The APY On Our 1-Year CD To 2.50%!

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With a low-minimum deposit of $1000, and a return that is 6x the national average, it’s a perfect short term investment that keeps your funds safe and secure. Open a 1-Year CD today and watch your savings grow. Member FDIC.

If you fund a CIT Bank 1 year CD with at least $1,000 you’ll get 2.50% APY.

There is no hard credit inquiry performed for opening a CIT account.

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15 Comments On "CIT Is Proud To Announce We’ve Raised The APY On Our 1-Year CD To 2.50%!"

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Ribbis Question

Anyone know if this bank requires and/or has a heter iska?

Naftali Minzer

CIT is a midsize bank owned by a public company.


Can you add to the account after opening? or just at the account inception?


Inception only.


Is this no-penalty like last time or with a penalty (if drawn early)


The no-penalty account is still at 1.85%.


Can i turn the 1.85 account into this ?


No, you would have to close that one to extract the funds and open this.


That’s what I did. Call them and they will do it over the phone for you. You also have the option of filling out a form and taking out your interest every month without any penalty you just can’t touch the Principal until the year is up. Let it ride!


Be aware, in addition to locking your money up for a year, you’re also taking on Interest rate risk – if the rates on liquid funds (like a money market) continue to crest upwards in the next few years, you are still locked into the 2.50% rate.


This is a one year CD, so locked in for years doesn’t make sense.


I meant to say locked in for 1 year.


I think it’s highly unlikely that within the next 12 months you’ll find a CD which is offering significantly more. If you are the type that likes to engage in daily investing and transfers, then I don’t think any CD or Bond would be for you.