First-Citizens Bank & Trust Company
CIT Bank Term CD Review 2026
Updated October 10, 2026
A 1-year CD at 4.00% APY and an 11-month no-penalty CD, each with a $1,000 minimum.
Quick answer
CIT Bank's 1-Year Term CD paid 4.00% APY and its No-Penalty, 11-Month CD 3.90% on October 10, 2026, per cit.com (rates dated July 1, 2026). Both require a $1,000 minimum deposit. Terms of 2 years and longer paid 0.50% or less. CDs are issued by First-Citizens Bank & Trust Company, Member FDIC.
Who CIT Bank Term CD is best for
Savers with $1,000 or more who want a 1-year CD or a no-penalty CD; its terms of 2 years and longer paid 0.50% or less.
At a glance
- 1-year APY
- 4.00%
- 11-mo No-Penalty APY
- 3.90%
- Minimum deposit
- $1,000
- FDIC
- Insured
12-month term, read at cit.com on October 10, 2026; the bank dates its rates July 1, 2026
Withdraw without penalty beginning 7 days after funds are received; dated July 1, 2026
Required for term and no-penalty CDs
First-Citizens Bank & Trust — $250K coverage
Pros
- +No-Penalty, 11-Month CD at 3.90% APY — withdraw the total balance and interest earned beginning 7 days after the funds have been received
- +1-year term at 4.00% and 6-month term at 3.75%
- +No account opening or maintenance fees
- +Daily compounding interest
Cons
- −$1,000 minimum deposit (Synchrony, Ally and Capital One open with no minimum)
- −Terms of 2 to 5 years paid only 0.40%–0.50%
- −The 13-month (3.25%) and 18-month (2.75%) terms paid less than the 1-year term
- −CIT dates its CD rates July 1, 2026 and its Term CD page does not print the early-withdrawal penalty schedule
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 1-Year Term CD paid 4.00% APY and its No-Penalty, 11-Month CD 3.90% when we read cit.com on October 10, 2026; CIT dates both rates July 1, 2026. Each requires $1,000 to open. Terms of 2 to 5 years paid 0.40%–0.50%. Verify the current lineup and rate at cit.com before opening.
Rates & fees last verified at the issuer on 2026-10-10. Always confirm current terms before applying.
◆ ClearValue platform data
How CIT Bank's 12-month CD compares with the FDIC national average
The FDIC's national average for a 12-month CD was 1.73% as of September 21, 2026 (FDIC National Rates and Rate Caps). CIT Bank's 12-month CD paid 4.00% APY when we read cit.com on October 10, 2026 — about 2.3x the national average.
On a $10,000 deposit held for 12 months, 4.00% APY earns $400 in interest and the national average earns $173 — a difference of $227. Among the six CDs in this guide that are open to new customers, CIT Bank's 12-month APY tied for fifth (the range was 4.00%–4.45%). CIT's $1,000 minimum is the second-highest in this guide after Bread Savings ($1,500), and its 2-year term (0.40%) paid less than the FDIC's 24-month national average of 1.61%.
Primary sources: FDIC National Rates and Rate Caps
The 1.73% figure is the FDIC's national average across insured institutions, not a CIT Bank quote. CIT Bank's APY is the one its site showed on October 10, 2026 (the bank dates its rates July 1, 2026). A CD's rate is fixed only once the account is opened and funded, so confirm it at cit.com first.
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
4.00% on an 11-month no-penalty CD with a $500 minimum
Synchrony Bank
Synchrony Bank CD
4.20% on a 12-month CD with no minimum deposit
Comenity Capital Bank
Bread Savings CD
4.45% on a 1-year CD if you can deposit $1,500
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Apply at First-Citizens Bank & Trust Company→Guide last updated October 10, 2026
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 3.9 / 5 on the ClearValue Rating — a deterministic editorial composite from the product's own published fees, terms, and eligibility. Best for: Savers with $1,000 or more who want a 1-year CD or a no-penalty CD; its terms of 2 years and longer paid 0.50% or less.
◆ 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 (a division of First-Citizens Bank & Trust Company) lists Term CDs, a No-Penalty, 11-Month CD, Jumbo CDs and RampUp CDs. Term CDs and the No-Penalty CD each require $1,000 to open. On October 10, 2026, cit.com showed the 1-year Term CD at 4.00% APY and the No-Penalty CD at 3.90%, both dated July 1, 2026. We did not read the Jumbo or RampUp terms. Source: cit.com; FDIC-insured via First-Citizens Bank & Trust Company.
What is the early-withdrawal penalty on a CIT Bank CD?+
CIT's Term CD page says a penalty may be imposed for early withdrawal of principal and that any early withdrawal reduces earnings, but it does not print the penalty schedule — it points to the Agreement for Personal Accounts. Read that agreement, or ask CIT, before opening. To avoid a penalty, CIT's No-Penalty, 11-Month CD lets you withdraw the total balance and interest beginning 7 days after the funds have been received; no withdrawals are permitted in the first 6 days.
Is CIT Bank safe — who backs the deposits?+
CIT Bank is a division of First-Citizens Bank & Trust Company, a Member FDIC bank. Deposits are insured up to $250,000 per depositor, per ownership category. CIT notes that deposits held under the First-Citizens name and at its divisions, including CIT Bank, are not separately insured — they are combined for the $250,000 limit. 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 (CIT Bank) and may change — verify current terms at cit.com before opening.
Does CIT Bank still offer a 1-year CD?+
Yes. On October 10, 2026, cit.com listed a 1-Year Term CD at 4.00% APY — the highest rate among its Term CDs — alongside 6-month (3.75%), 13-month (3.25%), 18-month (2.75%) and 2- to 5-year terms (0.40%–0.50%). CIT dates these rates July 1, 2026. On maturity the 13-month CD renews as a 1-year CD and the 18-month CD as a 2-year CD, at the rate published then. Confirm the current lineup at cit.com before opening.
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