CIT Bank CDs review

CIT Bank earns its place with the No-Penalty, 11-Month CD, which paid 3.90% APY as of July 1, 2026 and lets you withdraw the total balance and interest without penalty starting seven days after funds arrive. That makes it a middle ground between a savings account and a locked CD: the rate is fixed, but you can leave. CIT's standard Term CDs are weaker, with a 6-month CD at 3.75% APY and an 18-month CD at 2.75% APY, and the 18-month CD renews as a 2-Year Term CD. Jumbo CDs are built for balances of $100,000 or more. The minimum deposit is $1,000 for the No-Penalty CD and the featured Term CDs, and there are no monthly maintenance fees. CIT is a division of First Citizens Bank, and deposits are FDIC insured up to $250,000 per depositor, per ownership category. The posted rate date is older than most rivals here.

Who it is for

savers who want a CD they can exit without penalty

Price

No monthly maintenance fees; $1,000 minimum deposit; 3.90% APY on the No-Penalty 11-Month CD.

$1,000 minimum deposit is required to open the account.
Quoted from the vendor pricing page on November 13, 2026.

Key features

• No-Penalty, 11-Month CD at 3.90% APY as of July 1, 2026
• Full balance and interest can be withdrawn without penalty starting 7 days after funding
• 6-month Term CD at 3.75% APY and 18-month CD at 2.75% APY
• Jumbo CDs for balances of $100,000 or more
• $1,000 minimum deposit for Term and No-Penalty CDs

Strengths and weaknesses

• Strength: No-Penalty CD gives fixed-rate savings with an exit
• Strength: No monthly maintenance fees
• Strength: Online opening takes 3 to 5 minutes, according to CIT
• Weakness: Posted rates were dated July 1, 2026
• Weakness: 18-month CD pays only 2.75% APY
• Weakness: $1,000 minimum deposit

Key facts

• Top APY: 3.90% (No-Penalty, 11 months)
• Terms shown: 6, 11 and 18 months, plus Jumbo
• Minimum deposit: $1,000
• Early withdrawal: Free after 7 days on the No-Penalty CD

Where it ranks

CIT Bank CDs is No. 6 in our Best CD Rates verdict.