Competitive term CDs backed by First-Citizens Bank.
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ClearValue Rating: 4 / 5 — our editorial assessment (how we rate)
Editorial confidence (30%), cost (25%), value (25%), accessibility (20%) — scored consistently across every product, independent of compensation.
Savers comfortable with a $1,000 minimum who want a strong mid-to-long-term APY.
CIT Bank's 1-year Term CD was offering approximately 4.80% APY as of June 2026. The 11-month No-Penalty CD is available at a slightly lower APY. There are no monthly maintenance fees. Verify the current rate at cit.com before opening.
CIT Bank Term CD — Competitive term CDs backed by First-Citizens Bank. Best for: Savers comfortable with a $1,000 minimum who want a strong mid-to-long-term APY.. Compare it against alternatives before applying; the right fit depends on your situation, credit, and goals.
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.
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.
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.
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.
How we rate
Every pick gets a 1–5 ClearValue Rating computed from four weighted factors: Editorial confidence (30%), Cost (25%), Value (25%), and Accessibility (20%).
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