bank rates

CIT Boosts CD Rates For Its Customers

CIT Bank is once again rewarding customer loyalty by offering slightly higher returns to current customers who open new certificates of deposit.

The promotion by the online consumer bank of CIT Group, a provider of financing to small and medium-sized businesses, encompasses its entire suite of 1-, 2-, 3-, 4- and 5-year CDs.

The special rates reflect a:

  • 0.05% increase over posted rates for 1-year CDs and RampUp Plus CDs.
  • 0.08% premium for 2-year CDs, RampUp Plus and Jumbo CDs.
  • 0.10% premium for 3-year, 4-year and 5-year CDs, 3-year and 4-year RampUp CDs and 3-, 4- and 5-year Jumbo CDs.

Here are some of the promotional returns, based on CIT’s current posted rates:

  • 1.25% APY on 1-year CDs.
  • 1.43% APY on 2-year RampUp Plus CDs.
  • 1.55% APY on 3-year CDs.
  • 2.30% APY on 5-year CDs
  • 2.37% APY on 5-year Jumbo CDs.

The minimum deposits are $1,000 for regular CDs, $25,000 for RampUp Plus CDs and $100,000 for Jumbo CDs.

The promotional rates shown above all exceed the best rates for their respective maturities on our CD Rates Leaderboard.

The terms of the deal are set forth in an email I received as a CIT customer. The email does not specify an expiration date for the promotion, nor does it indicate whether the offer is available for IRA accounts.

Current CIT customers wishing to take advantage of the promotion should speak with a customer service rep by calling 855-462-2652.

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  1. Charles Rechlin said:
    on April 14th at 01:50 pm

    I have received a follow-up email from CIT indicating that the promotional offers are available for IRA accounts.