CIT Bank 1.85% APY 11 Month No Penalty CD

CD At A Quick Glance:

• APY: 1.85%
• Deposit Length: 11 months
• Penalty: None
• Minimum deposit required: $1,000
• Insurance: FDIC

The Offer

Direct link to offer

• CIT Bank is offering a No-Penalty 11-Month 1.85% APY CD. There is a minimum deposit of $1,000

Rate History

Keep in mind if the rate increases, your account doesn’t increase unless you open a new CD.

• March 3rd, 2018 – Current: 1.85%

Our Verdict

The current highest basic savings account is 1.8%, this is slightly higher than this but you won’t get any further rate increases. I’d expect rates to increase over the next 11 months, but if you disagree then locking in a rate for 11 months would make sense and there is no early withdrawal penalty if you’re wrong.  We recently started covering CD rates . Most people would be better off putting their emergency funds and other spare cash into high interest rewards accounts to get up to 5% APY with minimal effort.