CIT Bank – Bank Rates Review
February 2nd, 2012
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See how they compare to other banks and credit unions on our Rate Comparison Page. It is updated weekly.
Updated 3/26/2020: CIT Bank Review
CIT Bank is a relative new comer to banking. They were established in 2000. The CD portion of the Bank has been live in the market since mid-Oct 2011 and the Savings has been live since the end of March. CIT itself has been around since 1908 and like other brokerage firms (Charles Schwab, Goldman Sachs, etc.) they started their own bank.
| FDIC# | 58978 |
| Stats Updated: | 06/19 |
| Star Rating: | ***** |
| Assets: | $44.6BB |
| Equity: | $5.1BB |
| Capital Ratio: | 14.51% |
| Profits(loss): | $72.6MM |
| Phone#: | (855) 462-2652 |
| Address: | 95 South Lake Ave Pasadena, CA 91103 |
| Website: | https://www.cit.com/cit-bank/ |
CIT Bank has three different types of CDs. First, is the 11-month No-Penalty CD. They have their regular Term CDs that have a low minimum, only $1000 is needed. Finally, they have offerings for Jumbo CDs. I don’t believe they are offering IRA rates, but feel free to correct me if I am wrong.
| No Penalty CD | 11-Month: | 1.70% |
| Term CD | 18-month: | 1.85% |
| Term CD | 13-Month: | 1.82% |
| Term CD | 1-Year: | 1.86% |
| Jumbo CD | 5-Year: | 1.75% |
| Jumbo CD | 4-Year: | 1.60% |
| Jumbo CD | 2-Year: | 1.45% |
Happy CD Hunting.
cd :O)
-- By Chris Duncan
