CIT Bank CDs Review

A no-penalty 11-month CD at 3.90% from a large FDIC-member bank, but standard terms pay far less.

By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked July 1, 2026.

Our verdict

For savers who want a competitive rate they can exit early, CIT's 11-month No-Penalty CD pays 3.90% and can be closed without forfeiting interest. The standard terms hold it back: the 1-year pays 0.30% and the 2-year 0.40%, so a ladder built here is uneven. Buy the term, not the bank.

Skip it if you want a standard 1-year or 2-year CD, or can't meet the $1,000 minimum.

About CIT Bank CDs

A no-penalty 11-month CD at 3.90% from a large FDIC-member bank, but standard terms pay far less. CIT Bank CDs is offered by CIT Bank, a division of First Citizens Bank, N.A. Our editorial rating is 3.9 out of 5.

Best for: Savers who want a competitive rate they can exit early.

Editorial grade: B (composite score 78/100).

Highlights

11-month No-Penalty CD at 3.90% APY (bank-stated, as of July 1, 2026)
6-month 3.75%, 13-month 3.75%, 18-month 3.00%, but 1-year 0.30% and 2-year 0.40%
$1,000 minimum; terms from 6 months to 5 years

What we like

The 11-month no-penalty CD can be closed early without forfeiting interest
No opening or maintenance fees
Term CDs, jumbo CDs and laddering in one account

Where it falls short

Standard 1-year and 2-year terms pay 0.30% and 0.40%, well under any competitive CD
The competitive rates sit only on the promotional terms, so a ladder built here is uneven
$1,000 minimum, where several rivals ask nothing

Fees, minimums, and rates

Monthly fee: $0 opening or maintenance; early-withdrawal penalty on term CDs. Minimum to open: $1,000. Current APY: Up to 3.90%. Rates and fees last checked on July 1, 2026.

How we reviewed it

This is a desk review: we have not opened an account with CIT Bank, a division of First Citizens Bank, N.A.. It is built from CIT Bank, a division of First Citizens Bank, N.A.'s published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the Certificates of Deposit shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

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Read our full editorial methodology for how we review products.