CIT Bank’s CD page showed 4.00% APY on its 1-year Term CD, with rates from 0.40% to 4.00% depending on the term, plus 3.90% on its 11-month No-Penalty CD, with a $1,000 minimum. Those rates carried a July 1, 2026; still shown on CIT's site October 15, 2026 date on CIT’s site when we checked on October 15, 2026. CIT Bank is part of First Citizens BancShares, which acquired it in 2022. Verify current rates with CIT Bank before opening.
CIT Bank CD Rates We Read
| Term | APY | Minimum Deposit |
|---|---|---|
| 6 months | 3.75% | $1,000 |
| 1 year | 4.00% | $1,000 |
| 13 months | 3.25% | $1,000 |
| 18 months | 2.75% | $1,000 |
| 2 years | 0.40% | $1,000 |
| 3 years | 0.40% | $1,000 |
| 4 years | 0.50% | $1,000 |
| 5 years | 0.50% | $1,000 |
| No-Penalty CD (11 months) | 3.90% | $1,000 |
From CIT Bank’s Term CD page. The 18-month rate and the 2- to 5-year rates are far below the 1-year rate, so compare each term separately. CIT says a 13-month CD renews as a 1-year CD and an 18-month CD renews as a 2-year CD at the then-published rate.
CIT Bank Term CD vs. No-Penalty CD
Term CDs: fixed rate for the full term; CIT says a penalty may be imposed for early withdrawal of principal and that any early withdrawal will reduce earnings. We could not read the schedule, so confirm it before opening.
No-Penalty CD (11 months): CIT says you may withdraw the total balance and interest earned without penalty beginning 7 days after funds are received, and that no withdrawals are permitted during the first 6 days. Its 3.90% rate compares with 3.75% on the 6-month Term CD.
How Much Can You Earn at CIT Bank?
| Deposit | Term | APY | Interest Earned |
|---|---|---|---|
| $10,000 | 6 months | 3.75% | ~$186 |
| $10,000 | 1 year | 4.00% | ~$400 |
| $10,000 | 18 months | 2.75% | ~$415 |
| $10,000 | 11 months (no-penalty) | 3.90% | ~$357 |
Interest = $10,000 x ((1 + APY)^(months / 12) - 1), assuming the APY is earned for the full term.
Compare Before You Open
For dated rates at other banks, see best CD rates. Compare CIT’s rate on the same term. CIT asks $1,000 to open either CD, while Ally has no minimum.
Note on CIT Bank’s Ownership
CIT Bank was acquired by First Citizens BancShares in 2022. CIT’s page says First Citizens Bank and Trust Company is the FDIC member, deposits are insured up to $250,000 per depositor for each account ownership category, and deposits at First Citizens and all banks that are a division of it must be combined for the limit.
Related Articles
- Best CD Rates of 2026
- No-Penalty CD Rates 2026
- 1-Year CD Rates 2026
- 5-Year CD Rates 2026
- CD Laddering Strategy 2026
The content on Wealthvieu is for informational purposes only and should not be considered financial, tax, or investment advice. Consult a qualified professional before making financial decisions. Full disclaimer · Editorial policy