You earned it.

Keep your money growing.


1 Year Term CD. $1,000 minimum opening deposit.

Open an account

Frequently Asked Questions

Benefits of our CIT Bank Money Market Account

Benefits of our CIT Bank 1-Year CD

  • Earn 6x the national average2
  • No monthly service fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured

Your hard-earned money deserves a hard-working bank.3


See why we're the better banking choice4

One of the nation's top rates — 6x the national average.




The CIT Bank 1-Year CD has a competitive interest rate and no monthly fees. It’s a safe, secure way to grow your savings.

No monthly service fees
No monthly
service fees
Daily compounding interest
Daily compounding
FDIC Insured
FDIC Insured

Open a 1-Year CD in 3 simple steps.

1. Enter Your Info

1. Enter Your Info

We require your address, phone, email and social security number (or other taxpayer ID).

2. Fund Your Account

2. Fund Your Account

Minimum of $1,000 to open your account. You can transfer funds with electronic transfer, mail in check, or wire.

3. Now You're Done

We'll send a confirmation email.

1-Year CD FAQs

What is a CD?

A certificate of deposit (CD) is a savings product known as a time deposit account. When you open a CD, you invest a fixed amount of funds for a specific time period (your term) in return for an interest rate that is typically higher than a traditional savings or money market account. A 1-Year CD has a term of 12 months.

How does a 1-Year Term CD work?

With a CD, your interest rate is locked for one year. Interest on your funds will compound daily and be reported on your statement monthly. You will be unable to access your money penalty-free until the CD’s maturity date, which is 12 months past the date it was opened. You may withdraw the earned interest monthly from the CD.

Can you lose your money in a CD?

CDs are stable, short-term investments and do not lose value. Your funds will earn interest daily, which is reported monthly. The CIT bank 1-Year CD is FDIC insured.

Can you withdraw money from a 1-Year CD at any time?

Withdrawing funds (other than earned interest) prior to the maturity date will result in penalties. You may arrange to transfer the interest earned on a monthly basis to a different account.

What’s the difference between a 1-Year CD and a savings account?

The main differences are interest rates and accessibility. CDs generally have interest rates that are higher than savings accounts; your funds are locked into an interest rate and unavailable for a set term; and your funds cannot be accessed without penalty until the CD’s maturity date. Savings accounts offer strong rates and more flexible money access. Both accounts are FDIC insured.

When is a 1-Year CD a good choice?

A 1-Year CD is a good option when you want a safe, FDIC-insured investment with a competitive interest rate and won’t need access to your funds for one year. It’s a great choice for a short term savings goal.

Early access to your account 24/7 with the CIT Bank mobile app

Ready to open a CIT Bank 1-Year CD?

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Minimum balances
Available as IRA
Available as Custodial
Minimum balances
Available as IRA
Available as Custodial