CIT Bank CD Rates (2026): Up to 4.00% APY
CIT Bank, a division of First-Citizens Bank & Trust Company, is worth a look for two short CDs: the 1-year Term CD at 4.00% APY and the 11-month No-Penalty CD at 3.90% APY (checked October 19, 2026; for new CDs, fixed once opened). Both need $1,000. The one thing to know: terms of 2 to 5 years pay only 0.40% to 0.50%, and 13- and 18-month CDs renew into longer terms.
By Wealthy Pot Editorial · Facts checked October 19, 2026
Facts checked October 19, 2026 against CIT Bank's own CD rate page and deposit agreement (6 sources, listed below). We re-check prices about once a month. We do not earn a commission from CIT Bank.
CIT Bank at a glance
| Term CD rates (APY) | 6 mo 3.75%, 1 yr 4.00%, 13 mo 3.25%, 18 mo 2.75%, 2 yr 0.40%, 3 yr 0.40%, 4 yr 0.50%, 5 yr 0.50%; checked October 19, 2026; for new CDs, fixed once opened [1] |
|---|---|
| No-Penalty CD | 11 months, 3.90% APY; full balance only, from the 7th day after funding [2] |
| Jumbo CDs | 2, 3, 4 and 5 years at 0.40%, 0.40%, 0.50% and 0.50% APY; $100,000 minimum [3] |
| Minimum deposit | $1,000 for Term and No-Penalty CDs [4] |
| Early withdrawal penalty | 3 months of simple interest for terms of 1 year or less; 6 months for more than 1 year to 3 years; 12 months for more than 3 years; on the amount withdrawn [4] |
| Interest | Compounded daily, paid monthly [4] |
| At maturity | 10-day grace period from the maturity date; renews at the then-current rate. A 13-month CD renews as a 1-year CD, an 18-month CD as a 2-year CD [4] |
| Adding money | Only during the grace period [4] |
| Checking at the same bank | Yes, eChecking ($100 to open, no monthly fee) [4] |
| FDIC-insured bank | First-Citizens Bank & Trust Company (CIT Bank is a division) [6] |
| Contact center | 855-462-2652 [4] |
CIT Bank in official federal data
Rate compared with the national average
CIT Bank's 1-year CD APY of 4.00% (as of October 19, 2026) is about 2.3 times the FDIC's national average for 12-month CDs, 1.76% (as of October 19, 2026). On $10,000 kept for a year, that is about $400 in interest against $176 at the national average, before tax; a CD locks its rate for the term, while the national average is for CDs opened that month.
Who holds your money
- Deposits are held by First-Citizens Bank & Trust Company, FDIC certificate #11063, based in Raleigh, NC, established January 1, 1898 according to the FDIC. CIT Bank is a division of First-Citizens Bank & Trust Company.
- FDIC insurance covers up to $250,000 per depositor, per insured bank, for each account ownership category. Money held at the same bank under another brand name counts toward the same limit.
- Size: $174 billion in deposits and $236 billion in total assets (June 30, 2026 call report). Primary federal regulator: FDIC.
Customer complaints filed with the CFPB
From October 2025 through September 2026, consumers sent the Consumer Financial Protection Bureau 185 complaints about checking or savings accounts at FIRST CITIZENS BANCSHARES, INC., about 1.06 per $1 billion of deposits; the company responded on time to 100%. Complaint counts grow with the number of customers and cover the whole company, including checking accounts, and the CFPB does not verify each complaint, so treat them as a rough signal. Read the complaints.
Sources: FDIC BankFind (certificate, deposits and assets), FDIC national deposit rates (October 19, 2026), CFPB Consumer Complaint Database (product "Checking or savings account"). Updated monthly.
How CIT Bank works
CIT sells Term CDs from 6 months to 5 years, an 11-month No-Penalty CD and Jumbo CDs for $100,000 or more. Only the short terms are priced to compete: 4.00% for 1 year and 3.75% for 6 months, while the 2- to 5-year terms pay 0.40% to 0.50%. Interest compounds daily and is paid monthly. The No-Penalty CD lets you take out the whole balance, with interest, from the seventh day after funding; partial withdrawals are not allowed. The federal-data block on this page compares these rates with the FDIC national averages.
Read the renewal rule before you open a 13- or 18-month CD. At maturity, a 13-month CD renews as a 1-year CD and an 18-month CD renews as a 2-year CD, at whatever rate applies then. At today's rates, an 18-month CD at 2.75% would roll into a 2-year CD at 0.40%, so mark the 10-day grace period on your calendar.
A hypothetical early withdrawal: you put $10,000 in the 1-year CD at 4.00% and close it after 6 months. The term is 1 year or less, so the penalty is 3 months of simple interest on the amount withdrawn. Using the APY as an approximation of the rate: $10,000 x 4.00% x 3 / 12 = $100.00. Six months of interest is about $10,000 x 4.00% x 6 / 12 = $200.00, so you keep roughly $100.00. In the No-Penalty CD at 3.90%, the same exit costs nothing, and you would have earned about $10,000 x 3.90% x 6 / 12 = $195.00. Compare in the CD calculator.
Pros
- No-Penalty CD at 3.90% for 11 months
- 1-year Term CD at 4.00%
- eChecking and Platinum Savings at the same bank
- Penalty is 3 months of interest on terms up to 1 year
Cons
- 2- to 5-year CDs pay only 0.40% to 0.50%
- $1,000 minimum
- 13- and 18-month CDs renew into longer, lower-paying terms
- Partial early withdrawals are generally not permitted
Who CIT Bank fits, and who should skip it
A good fit if
- You want a 1-year CD or a no-penalty CD and can deposit $1,000.
- You want checking and savings at the same bank as your CD.
- You are parking money you may need within a year, such as part of an emergency fund (see the emergency fund calculator).
Limitations to know
- Partial withdrawals of principal from the No-Penalty CD are not permitted, and no withdrawals are allowed in the first six days after funding. [4]
- Additional deposits during a CD term are allowed only on Retirement CDs of 2 years or less and existing RampUp Plus CDs; otherwise only in the grace period. [4]
- RampUp and RampUp Plus CDs are no longer available to open for new personal accounts. [4]
- An account must be open for at least 30 days before it can send a wire. [4]
- Outgoing domestic wires (minimum $1,000) cost $10 when the available balance is under $25,000 and are free above it. [5]
CIT Bank compared with alternatives
| Bank | 6-month | 1-year | 3-year | 5-year | Minimum |
|---|---|---|---|---|---|
| CIT Bank | 3.75% | 4.00% | 0.40% | 0.50% | $1,000 |
| Marcus by Goldman Sachs | 3.95% | 4.40% | 4.40% | 4.40% | $500 |
| Ally Bank | 3.85% | 4.30% | 4.10% | 4.25% | $0 |
| Barclays | 4.00% | 4.50% | 4.50% | 4.75% | $0 |
- Pick Marcus by Goldman Sachs if you want a no-penalty CD at 4.00% and 4.40% on terms up to 6 years.
- Pick Ally Bank if you want a no-minimum bank with checking and low early withdrawal penalties.
- Pick Barclays if you want 2- to 5-year CDs with no minimum.
Security and privacy
- CIT Bank is a division of First-Citizens Bank & Trust Company, an FDIC member. Deposits at CIT and First Citizens are not separately insured, so they count together toward the $250,000 per depositor, per bank, per ownership category limit. [6]
- Principal can be withdrawn without penalty on the death or legal incompetence of any owner. [4]
- All joint accounts are titled as joint tenants with right of survivorship. [4]
Recent changes
| Date | What changed |
|---|---|
| Jul 1, 2026 | Current rate table date on CIT's site; Term CD and No-Penalty CD rates unchanged since then, and unchanged against our September 2026 snapshot. [1] |
| Jun 12, 2026 | Current revision of the Agreement for Personal Accounts. [4] |
CIT Bank FAQ
Is CIT Bank FDIC insured?
Yes, through First-Citizens Bank & Trust Company, of which CIT Bank is a division. Deposits at CIT and First Citizens are added together for the $250,000 per depositor, per ownership category limit.
What are CIT Bank CD rates today?
On October 19, 2026 CIT listed 3.75% APY for 6 months, 4.00% for 1 year, 3.25% for 13 months, 2.75% for 18 months and 0.40% to 0.50% for 2 to 5 years, plus 3.90% on the 11-month No-Penalty CD. Rates are for new CDs and fixed once opened. See all banks on our <a href="/cd-rates/">CD rates page</a>.
What is the minimum deposit for a CIT Bank CD?
$1,000 for Term CDs and the No-Penalty CD, and $100,000 for Jumbo CDs.
What is the penalty for withdrawing a CIT Bank CD early?
Three months of simple interest on the amount withdrawn for terms of 1 year or less, 6 months for more than 1 year to 3 years, and 12 months for more than 3 years. On a $10,000 1-year CD at 4.00%, that is about $100.
Does CIT Bank offer IRA CDs?
We could not confirm it. CIT's product descriptions say its Term, Jumbo and No-Penalty CDs are not available as an IRA, while its account agreement still mentions IRA and Retirement CDs. Ask CIT before you plan on one.
How we researched this review
We did not get paid for this page. On October 19, 2026 we read CIT Bank's own CD rate page, deposit account agreement and disclosures, quoted each fact and link every one below. FDIC and CFPB figures come straight from the agencies' public data. Penalty examples are our arithmetic on the bank's stated formula. CD rates for new accounts change often; we re-check them about once a month.
Sources
- CIT Bank, Term CDs, checked October 19, 2026.
- CIT Bank, No-Penalty CD, checked October 19, 2026.
- CIT Bank, Jumbo CDs, checked October 19, 2026.
- CIT Bank, Agreement for Personal Accounts (Rev. 6/12/26), checked October 19, 2026.
- CIT Bank, Fee Schedule (Rev. 2/26), checked October 19, 2026.
- CIT Bank, Platinum Savings, checked October 19, 2026.
This review is for general information, not financial advice. CD rates for new accounts change often; the rate is fixed only once you open the CD. Confirm the current rate with the bank.