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

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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
Savings Connect 4.65%
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%.


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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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.

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