If you’re searching for an online bank that offers competitive rates on Certificates of Deposit (CDs), CIT Bank is an excellent option. Their 11-month no-penalty CD and the 6-month term CD offer rates as high as 3.75%, making them popular choices for many savers.

CIT Bank has become one of the more popular digital banks over the past decade for a number of reasons. Not only do they offer an eChecking account, savings account, and a money market account, but they have a wide variety of CD types and terms.

Keep reading as we explore everything there is to know about the different CIT Bank CD rates and how they stack up against the competition.

Current CIT Bank CD Rates

CIT Bank CD rates are going to depend on the term you choose. Below is a chart showing the different CD rates you can receive.

Earn Bonus Cash: Earn up to a $400 cash bonus and up to a 4.00% APY when opening a checking and savings account.

Key Features of CIT Bank CDs

• Competitive Interest Rates: CIT Bank offers above-average APYs compared to traditional banks and most digital banks. Some of CIT Bank’s best rates are on their short and mid-term (6 to 18 months).
• Low Minimum Deposit: Most CDs can be opened with as little as $1,000. The one exception is their Jumbo CDs, which require $100,000 deposit.
• FDIC Insurance: All deposits into a CIT Bank CD are FDIC insured up to $250,000 per depositor, per account category
• Range of Term Options: You can choose terms ranging from 6 months to 5 years.
• No Monthly Maintenance Fees: There are no monthly maintenance fees on any CD product.
• Early Withdrawal Penalties: Other than the 11-month no penalty CD, you will be charged an early withdrawal penalty if you withdraw your funds before the CD matures. For terms up to one year, the penalty will be three months of simple interest. For terms of more than one year, up to three years, the penalty will be six months of simple interest. For terms of more than three years, the penalty will be 12 months’ simple interest.
• Types of CDs Available: You will have a variety of CDs to choose from, including Term CDs, No-Penalty CDs, Jumbo CDs, and StepUp CDs (not available to new accounts).
• Daily Compounding Interest: Interest is compounded daily and paid out monthly.

How Do CIT Bank CD Rates Compare?

Do you want to compare current CIT Bank CD rates to other options? Here are a few other options to consider.

Pros and Cons of CIT Bank CD Rates

Pros of CIT Bank CDs

• Competitive APYs: CIT Bank typically offers above-average APYs on many of its CD terms.
• Low Minimum Deposit: While some banks offer lower minimum deposits, $1,000 is a manageable amount for many people.
• Multiple CD Options: You can choose from CD terms ranging from six months to five years.
• No Monthly Fees: CIT Bank doesn’t charge monthly fees for CDs or any of its other products.
• FDIC Insured: The money you put in a CIT Bank CD is protected, up to $250,000.

Cons of CIT Bank CDs

• No Physical Branches: Since CIT is an online bank, it does not have any branch locations. If you like to bank in person, this might not be ideal for you. However, they do offer excellent customer service, available both online and over the phone.
• Early Withdrawal Penalties: If you withdraw your funds before your CD matures, you will be charged a penalty.

Boost Your Savings: Open a Valley Bank High-Yield Savings Account through Raisin and earn 3.95% APY plus up to a $1,500 bonus.

How to Open a CIT Bank CD

Are you ready to open a CIT Bank CD? Just follow these simple steps:

1. Once you’ve decided which CD term you want to open, click “Open Account” on the CIT Bank website. You’ll then be asked to provide information such as your name, address, date of birth, Social Security number, and a government-issued ID.
2. Next, you’ll need to fund your new CD with at least $1,000 ($100,000 for Jumbo CDs). Funding can be done via electronic transfer (ACH) from another bank, wire transfer, or by mailing a check.
3. Finally, you’ll want to double-check your information, agree to the CD terms, and submit your application. Once it’s approved, your CD will begin earning interest right away.

Alternatives to CIT Bank CDs

Before opening a CIT Bank CD, be sure to also familiarize yourself with some of the other products available.

• High-Yield Savings Account: Some people prefer to have access to their savings when needed. If that sounds like you, then you might be better off using a high-yield savings account instead of a CD. CIT Bank offers a great APY on its savings account, but you won’t have to wait until the CD matures to access the money.
• Money Market Account: Another option would be a CIT Bank money market account. Similar to a savings account and a CD, you’ll have the opportunity to earn a high APY. However, unlike the $1,000 minimum deposit required for a CD, the minimum deposit for a money market account is only $100.

1. APY — Annual Percentage Yield is accurate as of November 20, 2025. $1,000 minimum deposit is required to open the account. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings. Upon maturity, the 13-Month CD will be automatically renewed as a 1-Year Term CD at the then-published APY.   
2. Upon maturity, CDs are renewed for the same term automatically. The exception to this are the 13-Month CD and the 18-Month CD; upon maturity, the 13-Month CD will be automatically renewed as a 1-Year Term CD at the then-published APY, and the 18-Month CD will be automatically renewed as a 2-Year Term CD at the then-published APY.
3. APY — Annual Percentage Yield is accurate as of January 9, 2026. $1,000 minimum to open the account.
4. With a No-Penalty CD, you may withdraw the total balance and interest earned, without penalty, beginning 7 days after funds have been received for your CD. No withdrawals are permitted during the first 6 days following the receipt of funds.
5. APY — Annual Percentage Yield is accurate as of January 9, 2026. $1,000 minimum deposit is required to open the account. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings.
6. Upon maturity, CDs are renewed for the same term automatically. The exception to this are the 13-Month CD and the 18-Month CD; upon maturity, the 13-Month CD will be automatically renewed as a 1-Year Term CD at the then-published APY, and the 18-Month CD will be automatically renewed as a 2-Year Term CD at the then-published APY.