CIT Bank CD Rates
The CIT Bank CD rates are another one of the new banks being reviewed by Highest CD Rates. This bank is new to our site, but they have been open for business since 1908. This is a bank with international reach having customers in America, Europe, Asia and South America.
The CIT Bank certificate of deposit rates are in a tiered format. Each tier has a special name to it also. The lowest minimum deposit amount is $1,000 and called the term CD. The next level is $25,000 and called the Achiever CDs. With a $100,000 deposit you can be investing in the Jumbo CDs.
The current CD rates include the term CD at 6 months that is earning an APY of 0.45%. The 1 year CD has both the term and achiever CDs that are earning an APY of 1.06% and 1.08%.
At the 2 year term all three levels are represented. The corresponding APYs are 1.25%, 1.26% and 1.27%. The best CD rates are from the 3 year term that only has a term CD and a jumbo CD that is being offered. Their APYs are 1.46% and 1.48%.
The advantage of investing in the achiever CDs is that you have the option to increase the interest rate your investment is earning once during the term of the CD.
All of the CIT CDs have their interest compounded daily to help maximize your return on investment.
The CIT CD rates were posted on January 20, 2012 but are subject to change without notice.