First, I made the new CD Rates menu live ahead of schedule. So now when you are on the blog, you’ll be able to select which term you are looking for and a list of federally insured banks and credit unions will be displayed. It is sorted highest to lowest of course. If available, it will link to the blog post where we reviewed the institution. I hope this new feature is helpful. Let me know what other data you would like to see and we will see what we can do. I did the database modifications and coding on my own and I know enough to be dangerous. Please let me know if anything looks broken. The data under the individual blog posts is still done manually so we will be working on upgrading that over the next few months.

CIT Bank is a relative new comer to banking. They were established in 2000. Just over the last few months they have been in the national market competing in the online CD and bank marketplace. CIT itself has been around since 1908 and like other brokerage firms (Charles Schwab, Goldman Sachs, etc.) they started their own bank.

CIT Bank has three different types of CDs. All of them have very competitive rates. They have the Achiever CD that allows for a one-time bump on the rates (if they move up) and a one-time add-on of additional funds. They have their regular CDs that have a low minimum, only $1000 is needed. Finally, they have offerings for Jumbo CDs which gives a slight bonus for the larger amounts. I don’t believe they are offering IRA rates yet, but feel free to correct me if I am wrong. I do think it is a little interesting that they don’t offer the Achiever CD for 3-year CDs. This gives a little hint about what they think rates could do after 2-years.

Happy CD Hunting.
cd :O)

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2. Spencer Savings Bank (MA) – Bank Rates and Review
3. Top Five IRA CD Rates Report
4. Ally Bank – CD Rates Review
5. North American Savings Bank – CD Rates

-- By +Chris Duncan

Posted in Bank CD Rates