CD Rates
Utah CD Rates – CIT Bank
November 21, 2011 by · Leave a Comment
The 11st largest bank in the state of Utah, CIT Bank is based in Salt Lake City. It is also the 137th largest bank in the country. Taking pride in a 4-star health rating, CIT Bank’s CD rates are 28% higher than the countrywide average.
CIT Bank’s current best deal is the bank’s 1-year Achiever Internet CD. It allows you to make one additional deposit during the term. An exciting feature is a rate bump. If rates increase, you can take advantage of the higher rate. It has a clear advantage over other banks which don’t offer this.
The most important feature of the 1-year Achiever CD is the interest rate, and it’s quite competitive as compared to other internet banks. It has a 1.15% APY with a minimum deposit of $25,000 as of October 17, 2011. That may sound low, but it’s about the same as the best nationwide available 1-year CDs from banks.
You can apply for CIT Bank CDs with an online application. It’s accessible for people in any state. Funding is done with an electronic funds transfer from an outside bank account. Like the usual setting up an ACH transfer, you supply CIT Bank with the routing and account number of your outside account. You also choose to mail in a check or call their telephone number: 855-462-2652. For further details, please check out their website: www.bankoncit.com.
