First-Citizens Bank & Trust Company
CIT Bank Term CD Review 2026
Updated August 25, 2026
Competitive term CDs backed by First-Citizens Bank.
Quick answer
CIT Bank's CD lineup shifted in 2026 away from a standalone 1-year term toward 11-month No-Penalty (~3.75–3.90% APY), 13-month (~3.25% APY), and 18-month (~2.75% APY) terms, all requiring a $1,000 minimum deposit (verified via bankrate.com, Aug 17 2026). CDs are backed by First-Citizens Bank & Trust Company — best for savers who want a mid-term rate and don't need CIT's older 1-year product.
Who CIT Bank Term CD is best for
Savers comfortable with a $1,000 minimum who want a strong mid-to-long-term APY.
At a glance
- 11-mo No-Penalty APY
- ~3.75–3.90%
- Minimum deposit
- $1,000
- 13-month / 18-month APY
- ~3.25% / ~2.75%
- FDIC
- Insured
Verified via bankrate.com, Aug 17 2026 — confirm at cit.com; CIT no longer prominently offers a standalone 1-year term
Required for term and no-penalty CDs
Current published term-CD tiers, Aug 2026
First-Citizens Bank & Trust — $250K coverage
Pros
- +Competitive APY on the 11-month No-Penalty and 13-month terms
- +No-penalty CD option (11 months) for rate-locked liquidity
- +Backed by First-Citizens Bank & Trust — strong parent institution
- +No monthly maintenance fees on CDs
Cons
- −$1,000 minimum deposit (vs. $0 at Ally, Synchrony, Capital One)
- −Account-opening UX less polished than Ally or Marcus
- −Smaller brand with less consumer visibility
CIT Bank Term CD requirements
- US resident with SSN/ITIN
- At least 18 years old
- $1,000 minimum opening deposit
CIT Bank Term CD rates & fees
CIT Bank's term-CD lineup as of August 17, 2026 centers on the 11-month No-Penalty CD (~3.75–3.90% APY), a 13-month term (~3.25% APY), and an 18-month term (~2.75% APY) — down from the ~4.80% level CIT advertised on its 1-year product earlier in 2026, and CIT no longer prominently lists a standalone 12-month term. There are no monthly maintenance fees. Verify the current lineup and rate at cit.com before opening — CIT's available terms have shifted more than once in 2026.
Rates & fees last verified at the issuer on 2026-08-25. Always confirm current terms before applying.
◆ ClearValue platform data
How CIT Bank's CD tiers compare to the FDIC national average
This guide compares 7 CD offers total. The FDIC's national average as of August 17, 2026 was 1.71% for a 12-month CD and 1.57% for a 24-month CD (FDIC National Rates and Rate Caps). CIT's closest comparable terms — the 11-month No-Penalty CD at roughly 3.75–3.90% APY and the 13-month term CD at roughly 3.25% APY — both clear the national benchmark by more than 2x, even though neither term lines up exactly with the FDIC's standard 12-month measurement window.
Worked on a $1,000 deposit (CIT's minimum) held for the term: the 11-month No-Penalty CD at ~3.80% APY earns roughly $38 versus $17 at the 1.71% national average for a comparable 12-month term — about $21 more on CIT's minimum balance, before factoring in CIT's early-withdrawal flexibility after the no-penalty window opens. The 18-month tier at ~2.75% APY still beats the FDIC's 24-month average of 1.57%, though the gap narrows as CIT's longer terms trend down. CIT is one of 2 offers in this 2026 guide with a minimum deposit above $500 — the other being Bread Financial at $1,500 — while Synchrony, Capital One 360, and Ally all require $0 to open.
Primary sources: FDIC National Rates and Rate Caps
The 1.71%/1.57% figures are FDIC national averages across all insured institutions, not a CIT Bank quote. CIT's own advertised APYs (verified via bankrate.com, Aug 17 2026) change with market conditions — confirm the live rate at cit.com before opening.
CIT Bank Term CD alternatives
Top alternatives worth comparing from Best CD Rates 2026.
Goldman Sachs Bank USA
Marcus by Goldman Sachs High-Yield CD
Better if you want a 10-day rate guarantee with a $500 minimum
Ally Bank
Ally Bank CD
Better if you want $0 minimum with three CD types at one bank
Comenity Capital Bank
Bread Savings CD
Better if you want one of the highest short-term APYs and can meet the $1,500 min
Ready to apply?
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Apply at First-Citizens Bank & Trust Company→Last verified at the issuer on 2026-08-25
The full lineup
See all picks in Best CD Rates 2026
Editorial methodology + complete ranking criteria + side-by-side comparison of all picks.
Read the full guide →Bottom line
CIT Bank Term CD scores 4.0 / 5 on the ClearValue Rating — a deterministic editorial composite from the product's own published fees, terms, and eligibility. Best for: Savers comfortable with a $1,000 minimum who want a strong mid-to-long-term APY.
◆ How we scored it
The ClearValue Rating, broken down.
- Cost
- 35%
- Fit & approval odds
- 30%
- Speed & terms
- 20%
- Transparency
- 15%
Cost (35%), Fit & approval odds (30%), Speed & terms (20%), Transparency (15%) — scored consistently across every product, independent of compensation. Full methodology →
Frequently asked
Questions about CIT Bank Term CD
What CD products does CIT Bank offer?+
CIT Bank (operated by First-Citizens Bank & Trust Company) offers Term CDs in various terms, a No-Penalty CD (11-month), and a Jumbo CD for larger deposits. The standard minimum is $1,000; Jumbo CDs require $100,000 or more. Current APYs and term availability are published at cit.com. Source: CIT Bank official disclosure at cit.com; FDIC-insured via First-Citizens Bank & Trust Company.
What is the early-withdrawal penalty on a CIT Bank CD?+
CIT Bank Term CDs charge an early-withdrawal penalty for closing before maturity. The penalty varies by term: shorter-term CDs (under 1 year) typically carry a smaller penalty (e.g., 3 months of simple interest); longer-term CDs carry a larger penalty. CIT Bank publishes the exact penalty schedule in its CD terms at cit.com. To avoid any penalty, use CIT's 11-month No-Penalty CD — it allows early withdrawal after a brief initial holding period.
Is CIT Bank safe — who backs the deposits?+
CIT Bank is a division of First-Citizens Bank & Trust Company, one of the largest U.S. bank holding companies by assets. First-Citizens acquired Silicon Valley Bank's deposits and assets in 2023 via FDIC-assisted acquisition, expanding its balance sheet significantly. CIT Bank deposits are FDIC-insured through First-Citizens Bank & Trust Company — covered up to $250,000 per depositor per ownership category. Verify FDIC status at banks.data.fdic.gov.
Is ClearValue Lending a bank or CD issuer?+
No. ClearValue Lending is not a bank, CD issuer, lender, or financial advisor. This review presents publicly available editorial information about CIT Bank CDs. CDs are issued and operated by First-Citizens Bank & Trust Company (CIT Bank). APYs, terms, fees, and eligibility are determined solely by First-Citizens Bank & Trust Company and may change — verify current terms at cit.com before opening.
Does CIT Bank still offer a 1-year CD?+
As of August 17, 2026, CIT Bank's published term-CD lineup no longer prominently features a standalone 12-month term — the closest options are the 11-month No-Penalty CD (~3.75–3.90% APY) and the 13-month term CD (~3.25% APY). Earlier in 2026, CIT advertised a 1-year term around 4.80% APY. CIT's available terms and rates have shifted more than once this year, so confirm the current lineup directly at cit.com before opening.
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Independent editorial review. ClearValue Lending is a business & personal financing platform — not a lender, broker, or financial advisor. Some links are affiliate links; the issuer may pay a referral commission at no cost to you, which never changes the score. Specific product terms vary; verify with the issuer before applying. See privacy policy.