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CIT Bank Increases Interest Rates, Earn Up to 5.05% APY

DDG
DDG

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cit bank interest rate increase

CIT Bank Increases Interest Rates Up to 5.05% APY

Interest rates have gone up considerably over the last few months. There are a few banks that offers more than 5% APY.

CIT Bank is one of the financial institutions that just increased rates on a couple of accounts. They now offer up to 5.05% for savings accounts, 4.90 for a 11-month no-penalty CD, and 5.00% for a short term CD.

These offers are available nationwide, so if you are looking for a good interest rate, then check out the details below.

The Offers

Here are the current interest rates at CIT Bank, as of July 27, 2023:

Product APY
0.25%
5.05%
Savings Connect 4.65%
4.90%
6-Month CD 5.00%
Money Market 1.55%

As you can see, the best rate is for the Platinum Savings account, which can earn you 5.05% APY. However, it’s worth pointing out that to earn this rate, you will need to deposit at least $5,000. Anything less than that will earn only 0.25%.

Conclusion

CIT is currently offering great rates on its 6-Month CD (5.00% APY), 11-Month No Penalty CD (4.90% APY) and especially its Platinum Savings account (up to 5.055% APY). CIT Bank is available nationwide and you can open these accounts online.

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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DDG
DDGhttp://dannydealguru.com
Based in NYC. Points/miles enthusiast for years and actively writing about it for the last 6+ years at Danny the Deal Guru. I'm always looking out for deals. Making a few bucks is always nice, but the traveling is by far the best part of this business.

Responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.

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