No-Penalty
11-Month CD

2.05APY1

$1,000 minimum opening deposit.

The perfect balance between a great fixed rate and flexible money access.

Open an account

Frequently Asked Questions

Benefits of our CIT Bank Money Market Account

Benefits of our No-Penalty 11-Month CD

  • Access funds, if needed. No Penalty.2
  • No opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • FDIC insured

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

bankrateGOBankingRates

Why choose between a top rate and easy money access?

Get both with the 11-Month No-Penalty CD.

Lock in a great rate for 11 months. If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them.

With a CIT Bank No-Penalty CD, you get the security of an 11-month CD and know you can withdraw the total balance and interest earned without penalty seven days or later after funds have been received. No withdrawals permitted during the first six days after receipt of funds.

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

Open a 11-Month No-Penalty 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.

11-Month No-Penalty CD FAQs

What is the difference between a Term CD and the 11-Month, No-Penalty CD?

The CIT Bank 11-Month, No-Penalty CD allows you to withdraw your total CD balance and interest earned, without penalty, beginning seven days after funds have been received for your CD. A Term CD assesses penalties if you withdraw your funds prior to the end of the CD's Term.


If I have an existing 11-Month No-Penalty CD, how do I get the higher rate you are currently offering?

In order to get the current 2.05% APY, customers must open a new account. Visit BankonCIT.com or login to your Online Banking and open your new account. To fund your new account, select your existing 11-month No-Penalty CD from the drop down list. The entire balance of your existing 11 month No Penalty CD will transfer to your new account.


Do CDs have any fees or penalties?

There are no opening or maintenance fees on CDs. With a 11-Month, No-Penalty CD , you may withdraw the total balance and interest earned, without penalty, beginning seven days after funds have been received for your CD. Term CDs have penalties if funds are accessed prior to the end of the Term.

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

Ready to open a CIT Bank 11-Month No-Penalty CD?


Start now
Selected products ()
Product
APY**
Minimum balances
Available as IRA
Available as Custodial
APY**
Minimum balances
Available as IRA
Available as Custodial