CIT Bank CD Rates and Offers for 2025
Written by
Cynthia Measom
Edited by
Elizabeth Constantineau
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CIT Bank offers a full array of financial products, including CDs in a variety of terms and types. Here’s a look at the current CIT Bank CD rates.
Term CD Rates for August 2025
CIT Bank’s Term CDs offer daily compounding interest for maximum savings potential. Plus, you won’t pay any fees for opening or maintaining the account.
| Term | APY | Minimum Deposit |
|---|---|---|
| 6 months | $1,000 | |
| 1 year | $1,000 | |
| 13 months | $1,000 | |
| 18 months | $1,000 | |
| 2 years | $1,000 | |
| 3 years | $1,000 | |
| 4 years | $1,000 | |
| 5 years | $1,000 |
Jumbo CD Rates for August 2025
Here are CIT Bank’s Jumbo CD rates. Like the bank’s Term CDs, Jumbo CDs don’t have account opening or any maintenance fees and feature daily compounding interest.Â
| Term | APY | Minimum Deposit |
|---|---|---|
| 2 years | $100,000 | |
| 3 years | $100,000 | |
| 4 years | $100,000 | |
| 5 years | $100,000 |
No-Penalty and RampUp CD Rates for August 2025
The No-Penalty CD account allows you to withdraw the total balance plus interest beginning seven days after you make your minimum deposit. Note that RampUp and RampUp Plus CDs are not available for new accounts.
| Type | APY | Term and Minimum Deposit |
|---|---|---|
| No-Penalty CD | Term: 11 months Minimum deposit: $1,000 | |
| RampUp CD | Term: 3 or 4 years Minimum deposit: $25,000 or $50,000 | |
| RampUp Plus CD | Term: 1 or 2 years Minimum deposit: $25,000 |
Features and Benefits of CIT Bank CDs
CIT Bank CDs come with quite a few benefits and features that savers find helpful. Here’s a few to note:
- High APYs: CIT Bank consistently offers competitive interest rates.
- FDIC insurance: Deposits are insured up to $250,000 per depositor.
- No account maintenance fees: There are no hidden fees eating into your returns.
- Online banking tools: Manage your accounts by using CIT Bank’s user-friendly online platform.
Early Withdrawal Penalties
You’ll have a 10-day grace period to withdraw your funds. After that, you’ll face an early withdrawal penalty if you need to pull your funds out before the maturity date.
| CD Terms | Penalty |
|---|---|
| Terms up to 12 months | 3 months of simple interest |
| Terms of more than one year to three years | 6 months of simple interest |
| Terms of more than three years | 12 months of simple interest |
Types of CDs Offered by CIT Bank
CIT Bank offers a variety of CD options to cater to different savings strategies:
- Term CDs: These CDs range from 6 months to 5 years and offer daily compounding interest. A minimum deposit of $1,000 is required, making them accessible for most savers.
- Jumbo CDs: These CDs require a minimum deposit of $100,000 and provide competitive APYs for terms of up to 5 years.
- No-penalty CDs: With a term of 11 months, this option lets you withdraw your balance early without incurring penalties.
- RampUp CDs: Although not available to new customers, RampUp CDs let savers adjust their interest rate once during the term.
Pros and Cons of CIT Bank’s CDs
To help you decide whether you should invest in a CD at CIT Bank, here are some pros and cons.
Pros
- Variety of CD products to meet anyone’s needs
- No fee for opening or maintaining account
- Customized online banking experience
- Interest compounded daily
- 10-day grace period with no early withdrawal penalty
- Online transaction monitoring, layered security and firewalls to prevent fraud
Cons
- Early withdrawal penalty applies
- Limited CD availability for new customers
Good To Know
The average rate on a 12-month CD is 1.63% as of July 2025. When compared to the APY available on a 13-month CD through CIT Bank, it’s clear that you can make your funds work harder with the help of CIT Bank CD rates.
How CIT Bank CDs Compare to Other Banks
It’s worth noting that CIT Bank CD rates are attractive. But that doesn’t mean you can’t find higher rates elsewhere. If you want to explore top CD rates, consider the following choices:
- Discover® Bank, Member FDIC: You can find 9-month CDs at Discover Bank with a APY and 12-month CDs with a APY. These accounts come with no minimum deposit required.
- Ally Bank: If you are looking for an entirely online banking option, you can find 6-month CDs at Ally Bank with a APY and 12-month CDs with a APY.
- Barclays Bank: Barclays Bank offers online CD accounts with competitive rates. You can get a 12-month CD with a APY and an 18-month CD with a APY.
Think Beyond Rates: Key Features to Know
APYs are important, but don’t forget to compare fees, early withdrawal penalties, minimum deposits and accessibility when choosing a new bank account or CD account.
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How To Open a CIT Bank CD Account: 4 Easy Steps
Opening a CD account at CIT Bank is a straightforward process. You can follow these steps:
- Gather documentation: Be prepared with your Social Security number, address and funding account details.
- Visit the CIT website: Navigate to the CD section and pick the type and term that aligns with your financial goals.
- Fill out the application: Follow the prompts to complete your online application.
- Fund your account: Transfer the required minimum deposit.
Alternative Savings Options From CIT Bank
CIT Bank has more to offer than CDs. If you want to work with CIT Bank on other fronts, consider the following accounts:
- Platinum Savings: You can earn a APY on balances of $5,000 or more. Below that threshold, you’ll earn APY. You can open this account with $100 and you won’t have to deal with any monthly fees.
- eChecking account: This interest-bearing checking account offers APY on balances of at least $25,000. Below that threshold, you’ll earn APY. Surprisingly, there are no monthly maintenance fees attached to this account.
CIT Bank CDs: FAQ
Here are the answers to some of the most frequently asked questions regarding CIT Bank CD rates and details.- What is the minimum deposit to open a CIT Bank CD?
- The minimum deposit is $1,000 for Term CDs and $100,000 for Jumbo CDs.
- How do no-penalty CDs work?
- With no-penalty CDs, you can withdraw your balance and any earned interest penalty-free, after the required waiting period.
- Can you withdraw early from a CIT Bank CD?
- Yes, but early withdrawals from Term or Jumbo CDs will incur a penalty. No-Penalty CDs allow early withdrawals without fees.
- What happens when a CIT Bank CD matures?
- You'll have 10 days to withdraw your funds, renew the CD or transfer the balance to another account.
More on CIT Bank
Barb Nefer and Sarah Sharkey contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Aug. 7, 2025.
This article has been updated with additional reporting since its original publication.
Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.
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- FDIC. 2024. "National Rates and Rate Caps."
