CIT Bank CD Rates, Savings & MMA, Mortgage & Loan Rates, Reviews (2024)

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CIT Bank Deposit Rates

Today's 12-month CD rates can be found at 4.70%, 6-month CD rates at 5.27% and 3-month CD rates at 0.50%. Current savings rates are at 0.10% and money market rates are at 4.07%. Mortgage rates today on 30-year fixed loans are around 7.12%. Credit Card rates are at 11.90%. Personal Loan rates are at 12.15%. All these rates, and more, can be found in our database of rates. CIT Bank's 13-Month CD rates are at 3.50%, 6-Month CD rates are at 3.00%, 18-Month CD rates are at 3.00%, 60-Month CD rates are at 0.50%, 48-Month CD rates are at 0.50%. CIT Bank's savings rates are at 5.00%. CIT Bank's money market rates are at 1.55%.

To see how these rates compare to CIT Bank CD rates, feel free to use our comprehensive rate tables for side-by-side comparisons of CD rates from CIT Bank, savings rates and money market rates, with rates from other banks and credit unions below. You can use our bank rate lists to compare CD rates for all CD terms, with CIT Bank CD rates. You can also compare CIT Bank savings rates, MMA rates and mortgage rates using our other rate lists.

CIT Bank money market rates, and other rates, are continually updated to reflect market conditions, we recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at CIT Bank? Share your experience about CIT Bank by leaving a review below, or read customer reviews before you decide to use CIT Bank.

Rate

APY/APR

vs Avg

12-Month CD

0.30%

2.77%

18-Month CD

3.00%

2.42%

24-Month CD

0.40%

2.36%

36-Month CD

0.40%

2.22%

48-Month CD

0.50%

2.11%

60-Month CD

0.50%

2.23%

Savings

5.00%

0.88%

MMA

1.55%

1.53%

30-Year Fixed

N/A

7.11%

Credit Card

N/A

14.06%

Personal Loan

N/A

11.27%

CIT Bank

95 South Lake Ave
Pasadena, CA 91103

https://www.cit.com

MonitorBankRates' Rating

☆☆☆☆☆

Review CIT Bank

CIT Bank CD Rates and Interest Rates

CIT Bank

Platinum Savings

5.00%

$5,000

CIT Bank

13-Month CD

3.50%

$1,000

CIT Bank

6-Month CD

3.00%

$1,000

CIT Bank

18-Month CD

3.00%

$1,000

CIT Bank

Money Market

1.55%

$100

CIT Bank

48-Month CD

0.50%

$1,000

CIT Bank

60-Month CD

0.50%

$1,000

CIT Bank

24-Month CD

0.40%

$1,000

CIT Bank

36-Month CD

0.40%

$1,000

CIT Bank

12-Month CD

0.30%

$1,000

Disclaimer

The Annual Percentage Yields (APYs) displayed are based on the highest APY offered for the specified deposit amount or less. Rates may change without prior notice. The "Min. Balance" indicates the minimum amount required to earn the stated APY. Please note that some of the offers presented on this site are from advertisers, who provide compensation for their inclusion. However, these advertised offers do not encompass all available deposit accounts.

Compare CIT Bank Rates with Other Competitive Bank and Credit Union Rates

First Arkansas Bank and Trust

Money Market Savings

5.12%

$250,000

LimeLight Bank

18-Month CD

5.00%

$1,000

First Western Bank & Trust

6-Month CD

5.00%

$2,500

Itasca Bank & Trust Co.

9-Month CD

4.80%

$1,000

Hanover Community Bank

6-Month CD

4.75%

$500

F&M Union Bank

12-Month CD

4.55%

$1,000

Sallie Mae

24-Month CD

4.50%

$2,500

Community Bank Zanesville, OH

15-Month CD (special)

4.50%

$2,500

Lea County State Bank

24-Month CD C(CDARS/IntraFi)

4.45%

$50,000

Forbright

Platinum Money Market

4.25%

$2,500

Communitywide Federal Credit Union

48-Month CD

4.10%

$1,000

First County Bank

6-Month CD

4.00%

$1,000

Fox Valley Savings Bank

Premium Money Market

3.56%

$250,000

Newburyport Bank

18-Month CD

3.50%

$500

Agility Bank

60-Month CD

3.29%

$1,000

First Southwest Bank

48-Month CD

3.25%

$1,000

National Bank of Malvern

60-Month CD

3.25%

$2,500

Act 1st Federal Credit Union

36-Month CD share certificate

3.25%

$500

Ally Bank

3-Month CD

3.00%

Presidential Bank

24-Month CD

3.00%

$1,000

Lone Star Bank

3-Month CD

3.00%

$1,000

AAA Federal Credit Union

18-Month CD certificate

2.95%

$500

Vio Bank

84-Month CD

2.75%

$500

Heartland State Bank Edgeley, ND

60-Month CD

2.50%

$10,000

Triad Bank, N.A.

18-Month CD

2.26%

$1,000

Bradford National Bank

48-Month CD

2.21%

$1,000

Connex Credit Union

24-Month CD

2.20%

$500

Chelsea State Bank (CSB)

60-Month CD

2.11%

$500

Bruning Bank

48-Month CD

2.02%

$500

Madison County Bank

48-Month CD

2.00%

$500

1st Community Federal Credit Union

36-Month CD certificate

1.92%

$1,000

Continental Bank

60-Month CD

1.40%

$25,000

Bank of Stronghurst

36-Month CD

1.36%

$500

Merrimack County SB

36-Month CD

1.25%

$500

FNB of Bellville

48-Month CD

1.11%

$1,000

FNB of Kansas

3-Month CD

1.00%

$1,000

Jewett City Savings Bank

12-Month CD

1.00%

$1,000

Longview Bank

Money Market

1.00%

$25,000

BankOrion

24-Month CD

0.70%

$500

CIBM Bank

24-Month CD

0.65%

$500

State Bank of Medora

Money Market

0.65%

Municipal Bank

36-Month CD

0.60%

$1,000

Citizens Savings Bank Clarks Summit, PA

18-Month CD

0.40%

$1,000

Schuyler Savings Bank

12-Month CD

0.25%

$1,000

The Bank of South Carolina

Money Market

0.20%

$2,500

Tompkins Community Bank

12-Month CD

0.20%

$1,000

Utah Independent Bank

Savings Account

0.20%

$25

Southwest Missouri Bank

Money Market

0.20%

Northwest Community Bank

UTMA Savings

0.05%

The Bank of Tioga

Savings

0.02%

$100

Disclaimer

Mortgage Rates June 7, 2024

1st Northern California Credit Union

7-Year Fixed

4.990%

5.287%

0.500

Mutual Security Credit Union

5/1 ARM

5.500%

5.614%

0.000

1st Northern California Credit Union

10-Year Fixed

5.500%

5.716%

0.500

1st Northern California Credit Union

15-Year Fixed

5.625%

5.777%

0.500

McCoy Federal Credit Union

10 Year Fixed

5.500%

5.820%

0.000

Mutual Security Credit Union

7/1 ARM

5.750%

5.834%

0.000

Institution for Savings

15-Year Fixed

5.500%

5.868%

2.000

1st Northern California Credit Union

15-Year Fixed Jumbo

5.750%

5.883%

0.500

NESC Federal Credit Union

5/5 ARM

5.750%

5.886%

0.000

Investment Savings Bank

3/1 ARM

6.000%

5.892%

0.000

Chase Bank

15-Year Fixed

5.750%

5.910%

0.000

Wrentham Co-operative Bank

15-Year Fixed

5.870%

5.970%

0.000

Wrentham Co-operative Bank

15-Year Fixed Jumbo

5.875%

5.970%

0.000

First Community Credit Union

5/5 ARM

5.950%

5.998%

0.000

Mutual Security Credit Union

15-Year Fixed

6.000%

6.043%

0.000

Wells Fargo

15 Year Fixed

5.750%

6.046%

1.000

NESC Federal Credit Union

15 Year Fixed

6.000%

6.056%

0.000

Security Service Federal Credit Union

10-Year Power Rate Fixed

5.750%

6.068%

0.000

Navy Federal Credit Union

15-Year Fixed

5.875%

6.071%

0.250

One Nevada Credit Union

15 Year Fixed

5.875%

6.079%

1.000

Abound Federal Credit Union

5-Year ARM

6.000%

6.084%

0.000

Abound Federal Credit Union

7-Year ARM

6.000%

6.084%

0.000

Security Service Federal Credit Union

15-Year Power Rate Fixed

5.875%

6.101%

0.000

Sheboygan Area Credit Union

7 Year Fixed

6.000%

6.121%

0.000

Pioneer Federal Credit Union

15 Year Fixed

5.875%

6.121%

0.000

Disclaimer

The mortgage rates presented are solely intended for informational use. Please consult the mentioned lenders for up-to-date mortgage rates. The actual mortgage rates and other loan conditions depend on the lender's approval and are not guaranteed.

CIT Bank Information

CIT Bank

95 South Lake Ave
Pasadena, CA 91103
Los Angeles
Established Date: 03/19/2009
FDIC Certificate #: 58978
Date of FDIC Deposit Insurance: 03/19/2009

Bank Holding Company: CIT GROUP INC

How Many Domestic U.S. Offices? 84

How Many Branches are There? 0

Website: https://www.cit.com

Is CIT Bank FDIC Insured? Yes

What is CIT Bank's Cert number? 58978

What is the maximum amount for insured deposits? $250,000 per holder, per account

CIT Bank Financials

Total Assets:

$47,562,923,000

Total Deposits:

$40,214,687,000

Equity Capital:

$5,373,945,000

Domestic Deposits:

$40,214,687,000

Net Income:

$884,742,000

Return on Assets:

1.7792%

Quarterly Return on Assets:

1.7600%

Pretax Return on Assets:

2.4029%

Pretax Quarterly Return on Assets:

2.4100%

Return on Equity:

17.0300%

Quarterly Return on Equity:

15.7800%

Leverage Tier 1 (Core Capital) Ratio:

0.0000%

Total Interest Income (YTD):

0.0000%

Headquarters:

Pasadena

FDIC Field Office:

Los Angeles (north)

Regulator:

OCC

County:

Los Angeles

# of Offices:

Metropolitan Statistical Area (MSA):

Los Angeles-Long Beach-Anaheim, CA

Consolidated Metropolitan Statistical Area (CMSA):

Los Angeles-Riverside-Orange County, CA

OTS Region:

Western

FDIC Region:

San Francisco

Source: FDIC

Highest Savings Account Rates for September 8, 2023

Since the Federal Reserve has been increasing rates for the past 15 months, high-yield savings accounts have become an even more attractive option for savers and investors. Gone are the days of low interest rates for online banks, if you're looking to maximize your returns on your savings account, you've come to the right place. Below, we list some of the highest and most competitive savings account rates available in descending order of the interest rate offered:

Highest Savings Rates:

UBS Bank USA: 5.40%, Minimum deposit: $1000

CIT Bank CD Rates: Act Now to Lock in a High Rate Before Rates Decline!

Are you on the hunt for a sound, smart, and profitable investment? Look no further, CIT Bank is the answer you've been searching for! With some of the highest short-term CD rates available online, CIT Bank CDs are some of the best deals around. 6-month CD Rates are currently at a whopping 5.00%, that rate is higher than most 12-month CD rates available. 13-month CD rates are also a good deal at 4.65% APY. The time is now to lock in a high CD rate because CD rates are expected to decline later this year.

The current rates for a 6-month, 13-month, and 18-month CD are not the only good deals at CIT Bank. If you're looking for a wider range, CIT Bank offers eight standard certificate of deposit terms, ranging from six months to five years.

What truly sets CIT Bank apart are the four distinct types of CDs it provides - Term CDs, Jumbo CDs, No Penalty 11-month CD, and RampUp CDs. Each of these CD options comes with its unique benefits, meeting the diverse needs of every CD investor.

CIT Bank CD Rates: 6-Month 5.00%, 13-Month 4.65%, 18-Month 4.60%

CIT Bank is offering some of the best short-term CD rates currently available from any online bank. CIT Bank 6-month CD rates are at 5.00%, 13-month CD rates are at 4.65% and 18-month CD rates are at 4.60%. CIT Bank is an online bank that provides customers with a range of CD products to meet their financial goals. They offer eight standard certificate of deposit terms, which range from six months to five years.

6-Month 5.00%
13-Month 4.65%
18-Month 4.60%
5-Year 0.50%
4-Year 0.50%
3-Year 0.40%
2-Year 0.40%
1-Year 0.30%

Types of CIT Bank CDs

Are you Looking for High Interest Rates on your Savings?

Are you looking for high interest rates on your savings? A 12-month certificate of deposit (CD) with rates above 4.00 percent may be the right choice for you. Banks and credit unions offer CD's as a type of savings account that generally have higher interest rates than traditional savings accounts. However, these accounts require the deposit to stay in the account for a specified period of time, usually ranging from a few months to several years.

When searching for the best CD rates, it's essential to compare rates from different financial institutions. Websites such as monitorbankrates.com and bankrate.com can be incredibly helpful in this regard. According to monitorbankrates.com, some of the highest 12-month CD rates currently available include: Connexus Credit Union with 4.85%, First Internet Bank of Indiana with 4.75 percent, CIT Bank, also with 4.75 percent, and CFG Community Bank with 4.70 percent. Bankrate.com also lists several financial institutions offering 12-month CD rates above 4.00 percent, such as American Express National Bank with 4.15 percent and Discover Bank with 4.15 percent.

When considering a CD, it's important to consider the rate as well as the length of the term. A higher rate may be more attractive, but if the term is longer, the account holder may miss out on potentially higher rates if they become available in the future. Additionally, it's important to consider whether the account holder will need to access the funds before the term is up, as early withdrawals may result in penalties.

CIT Bank Savings Rates: 1.35% [Nationwide]

CIT Bank savings rates on the bank's savings account is on the higher end of savings rates currently available. The savings rates at CIT Bank are at 1.34 percent with a 1.35 percent annual percentage yield. CIT Bank's savings rate is more than 16x the FDIC national average rate, plus you earn interest with a minimum of $100 balance.

CIT Bank CD Rates, Savings & MMA, Mortgage & Loan Rates, Reviews (87)

CIT Bank Best Savings Rates

Savings Account Rates CIT Bank

Savings account rates at CIT Bank are very competitive right now, especially on the bank's Savings Builder savings account. In fact, the Savings Builder savings rate places CIT Bank in the top 10 savings rates on the rate list. Current CIT Bank Savings Builder savings rate is at 2.27 percent with an APY of 2.30 percent. The account is FDIC insured and the minimum opening deposit is only $100.To earn the 2.30% APY, you have to either have $25,000 or more on deposit or make a monthly deposit of $100 or more. If you don't make deposits of $100 or more each month or have a balance of less than $25,000 the savings rate is 1.26% APY for the first month. Each month after the savings rate drops to 1.00% APY.

Savings Builder Benefits and Features

Online Savings Rates Increase in 2019

Online savings rates continue to move higher during the first week of 2019 as several banks increased rates. The best online savings rate for the first week of 2019 goes to CIT Bank with a rate of 2.45 percent on their Savings Builder savings account. The minimum opening deposit is $25,000.The second best online savings rate goes to MySavings Direct at 2.40 percent with minimum opening deposit of only $1.00.The third highest online savings rate is at 2.36 percent from Popular Direct and VirtualBank. Vio Bank and PurePoint Financial are tied with the fourth best savings rate at 2.35 percent. Rounding out the top 5 savings rates is earn.bank with a rate of 2.31 percent. Read more...

Best 1 Year CD Rates April 5, 2017

CD rates continue to move higher this week. We look for the trend of higher CD rates to continue in 2017 as long as there isn't a recession. The Fed is expected to increase the federal funds rate at least two more times this year, which will put more upward pressure on CD rates.

This week, the best 1 year CD rate in the database is now at 1.49 percent with an APY of 1.50 percent. A couple of weeks ago, the top 1 year CD rate was 5 basis points less.

The current national average 1 year CD rate also moved higher this week over last. The current national average 1 year CD rate is at1.26 percent, up from last week's average of 1.30 percent.

CD Rates Report: 1 Year CD Rates as of January 14, 2017

Listed below is a current CD rates report for 1 year certificates of deposit as of January 14, 2017.

Current 1 Year CD Rates

Pentagon Federal Credit Union 1.35% Yield 1.36% (tied for 1st place)
EverBank 1.35% Yield 1.36% (tied for 1st place)
VirtualBank 1.30% Yield 1.31%
Live Oak Bank 1.29% Yield 1.30%
My e-BAnC by BAC Florida Bank 1.28% yield 1.29%
E-Loan 1.27% Yield 1.28% (tied for 5th place)
Popular Direct 1.27% Yield 1.28% (tied for 5th place)
Pacific National Bank 1.26% Yield 1.27%
California First National Bank 1.25% Yield 1.26% (tied for 7th place)
TAB Bank 1.25% Yield 1.26% (tied for 7th place)
Synchrony Bank 1.24% Yield 1.25% (tied for 8th place)
Colorado Federal Savings Bank 1.24% Yield 1.25% (tied for 8th place)
Salle Mae 1.24% Yield 1.25% (tied for 8th place)
AloStar Bank of Commerce 1.22% Yield 1.23%(tied for 9th place)
giantbank AloStar 1.22% Yield 1.23%(tied for 9th place)
CIT Bank 1.21% Yield 1.22% (tied for 10th place)
BankDirect 1.21% Yield 1.22% (tied for 10th place)

For a list of today's 1 year CD ratesin ourdatabase go toMontiorBankRates.com.

Highest Deposit Rates November 27, 2016

Variable deposit rates continue to inch slowly higher this week. The best savings rate available is at 1.25 percent with a yield of 1.26 percent. The best money market account rate availableis slightly lower at 1.24 percent with a yield of 1.25 percent.Listed below are the best savings rates and money market rates available in our database for November 27, 2016.

Best Savings Rates

Best Variable Deposit Rates October 12, 2016

Variable deposit rates have been slowly creeping up for the past several months.The interest rateincreases have been small; in increments of less than 10 basis points for the most part.Even with the small increases,the best variable deposit rates arealmost comparable to best the 1 year CD rates.The best savings rate on our rate database is at 1.25 percent with an APY of 1.26 percent from Popular Direct. This savings rate is only 4 basis points lower than the top 1 year CD rate in our database at 1.29 percent with a yield of 1.30 percent.The highest money market yield on our list is5 basis point lower at 1.24 percent with a yield of 1.25 percent.Listed below are today's current highest savings rates and money market rates Read more...

CIT Bank 1 Year CD Rates now at 1.21%

CIT Bank 1 Year CD rates are now at 1.21 percent with a yield of 1.22 percent. View current 1 Year CD rates at CIT Bank below. Read more...

1.35% APY - New Highest 1 Year CD Rate in our Database

CIT Bank CD Rates Lowered

CIT Bank CD rates were lowered this week on 5 year and 2 year certificates of deposit. Despite the recent decreases,the bank's rates are still very competitive. Rates were lowered on CIT Bank's regular, jumbo, IRA,and jumbo IRA CD accounts. You can compare these new rates with other CD rates at banks by searching the rate database at MonitorBankRates.com.

CIT Bank CD Rates

Bank	Product	Rate (new / old)	Yield (new / old)
CIT Bank	2 yr CD	1.29 / 1.39	1.30 / 1.40
CIT Bank	5 yr CD	1.88 / 2.08	1.90 / 2.10
CIT Bank	5 yr jumbo CD	1.93 / 2.13	1.95 / 2.15
CIT Bank	2 yr IRA CD	1.29 / 1.39	1.30 / 1.40
CIT Bank	5 yr IRA CD	1.88 / 2.08	1.90 / 2.10
CIT Bank	2 yr jumbo IRA CD	1.34 / 1.46	1.35 / 1.47
CIT Bank	5 yr jumbo IRA CD	1.93 / 2.13	1.95 / 2.15
CIT Bank	2 yr jumbo CD	1.34 / 1.46	1.35 / 1.47

3/1/16 - Best Variable Deposit Rates

Listed below are the best variable deposit rates for March 1, 2016. For a list of today's deposit rates search our database of rates at Deposit Rates.

Best Money Market Account Rates

Top Deposit Rates for February 24, 2016

Listed below are the top online savings rates and money market rates for 2/24/16.Top Online Savings Account Rates

Current CD Rate Changes from Banks and Credit Unions

Several banks and one credit union made changes to the CD rates they offer. The CD rate changes are listed below. You can see a list of rates from many banks and credit unions at MonitorBankRates.com.

Bank	Product	Rate (New / Old)	Yield (New / Old)
CIT Bank	5 yr CD	2.08 / 2.18	2.10 / 2.20
CIT Bank	5 yr jumbo CD	2.13 / 2.23	2.15 / 2.25
CIT Bank	5 yr IRA CD	2.08 / 2.18	2.10 / 2.20
CIT Bank	5 yr jumbo IRA CD	2.13 / 2.23	2.15 / 2.25
Luana Savings Bank	6 month $50K CD	0.45 / 0.50	0.45 / 0.50
Nationwide Bank	5 yr CD	2.03 / 1.93	2.05 / 1.95
Nationwide Bank	5 yr jumbo CD	2.08 / 1.98	2.1 / 2
Pentagon Federal Credit Union	1 yr CD	1.10 / 1.20	1.11 / 1.21
Pentagon Federal Credit Union	2 yr CD	1.3 / 1.40	1.31 / 1.41
Pentagon Federal Credit Union	3 yr CD	1.3 / 1.40	1.31 / 1.41
Pentagon Federal Credit Union	5 yr CD	1.4 / 1.50	1.41 / 1.51
Pentagon Federal Credit Union	4 yr CD	1.3 / 1.40	1.31

Discover Bank	5 yr CD	2.18 / 1.98	2.20 / 2.00
Discover Bank	5 yr jumbo CD	2.18 / 1.98	2.20 / 2.00
Discover Bank	5 yr IRA CD	2.18 / 1.98	2.20 / 2.00
Discover Bank	5 yr jumbo IRA CD	2.18 / 1.98	2.20 / 2.00
Lone Star Bank	1 yr CD	0.80 / 1.24	0.8 / 1.25
Synchrony Bank	5 yr CD	2.13 / 2.22	2.15 / 2.25

Variable Deposit Rate Report for January 14, 2016

A few banks have increased their rates, so average deposit rates are slightly higher this week.Variable deposit rates have been stable so far in 2016 but that will change in the coming months. The biggest force behind any deposit rate increases is theFederal Open Market Committee (FOMC). The FOMCmeets again in less than 2 weeks to decide on interest rate policy.The Fed is widely expected to keep the fed funds rate in the current range of 0.25 percent to 0.50 percent. As of today, there is a 90.5 percent chance the Fed won't increase the fed funds rate according to the CME Group's Fed Watch Tool. The next Fed meeting is in March and as of today there is only a 34.5 percent probability the Fed will increase the rate during that meeting.Deposit rates will move higher in 2016.The question isn't if, but when. Listed below are this week'sbest savings rates and money market rates. Read more...

Christmas Day 2015 Variable Deposit Rates

2016 will be a better year for deposit rates after many years of watching rates decline to historic lows. The Fed will most likely increase the fed funds rate at least 3 or 4 times in 2016, on top of the 1 rate increase in 2015. While banks and credit unions haven't increased rates yet, it's only a matter of time before they do.Let's look forward to higher fixed and variable bank rates in 2016. Listed are the best savings rates and money market rates on Christmas Day 2015. You can check on all current deposit ratesby searching our database ofinterest rates atMonitorBankRates.com.Best Savings Rates Christmas Day Read more...

Unemployment Low and Hourly Wages Up Should Mean a Rate Increase

The Fed meets in just over a month to decide on monetary policy. The strong November employment report makes it more likely the Fed participantswill vote to increase the fedfundsrate. A higher fed funds rate will lead to higher variable deposit rates, possibly as soon as next month.

November'sunemployment rate fell to 5.00 percent and average hourly earnings have risen by 2.5 percent over the pastyear. The unemployment rate is now atthe lowest level since April 2008, just before the financial crisis. The rate is also at a point wheremany Fed officials see as consistent with full employment.

Full employment and higherwage growth should force the Fed to vote on increasing rates. The CME Group's Fed Watch Tool puts the probability of a rate hike in December at 65.9 percent. Whether or not the rate is increased will depend on December's employment report.

1.33% APY - New Top 1 Year Top CD Rate in the Database

There is a new top rate in our 1 year CD rate database.Connexus Credit Union is now offering 1 year certificate rates at 1.32 percent with an APY of 1.33 percent. As with any credit union, you are requiredto join Connexus CU to open a certificate accountandyou must meet eligibility requirements ortomake a one-time $5 donation to Connexus Association, which will in turn make you a member of thecredit union.

If you're not eligible or youdon't want to join Connexus,there are two online banks in our database offering 1 year ratesonly 3 basis points lower than Connexus' rate. CIT Bank and E-Loan are both offering 1 year rates at 1.29 percent with an APY of 1.30 percent.

Listed below are the highest 1 year CD rates for October 28, 2015.

CD Rates Hold Steady as Fed Meets Next Week to Decide Monetary Policy

The Federal Open Market Committee (FOMC) meets again next week to decide on monetary policy. Ifthe FOMC decides to increase the fed funds rate, CD rates will also move higher. Fed Chair, Janet Yellen, is still talking up a rate hike sometime in 2015 but some Fed officials say the first hike will happen in 2016.

The final FOMC meeting for 2015 will be in December. If a hike doesn't happen next week, the FOMC has one final chance to raisethe rate this year. The CME's FedWatch Toolnow hasa 29.2 percent chance of a hike in December, down from 35.4 percent last month.

The past several months, banks and credit unions in our rate database have been slowing increasing their rates in anticipation of a Fed rate hike. Both short term and long term CD rates have been increased by financial institutions. The increases have been small but at least rates are finally moving higher after a half dozen years of decreases.

10/14/15 - Variable Deposit Rates - Highest Savings Rates at 1.10% APY

Banks kept variable deposit rates near current levels because the Federal Reserve decided not to increase the fed funds rate. The Fed meets again this month to decide interest rate policy andit's looking less likely the Fed will increase the rate this month.

The CME Group's FedWatch Tool has only about a 5 percent chance of a change in monetary policy at the October Fed meeting. Listed below are the best savings rates and money market rates. You can search our rate database for both national and regional rates at SavingsAccount.MonitorbankRates.com

Variable Deposit Rates for October 14, 2015

9/30/15 Deposit Rate Report

By now you have probably heard the Fed didn't increase the fed funds rate this month so deposit rates have mostly remained the same.There is still hope for an increase in October's meeting but a lot will depend on September's employment report due to be released on Friday.

September 30, 2015 Deposit Rate Report

Best Money MarketRates

EverBank 0.61% Yield 1.11%
Dime 0.20% Yield 1.10%
Northeast Bank 1.09% Yield 1.10%
iGObanking.com 1.09% Yield 1.09%
ableBanking 1.00%Yield 1.00%
Sallie Mae Bank 0.90% Yield 0.90%
Ally Bank 0.85% Yield 0.85%
Synchrony Bank 0.85% Yield 0.85%
MyCBB 0.83% Yield 0.83%

BestSavings Rates

My Savings Direct 1.09% Yield 1.10%
Radius Bank 1.09% Yield 1.10%
The Palladian Private Bank 0.90% Yield 1.10%
Synchrony Bank 1.04% Yield 1.05%
CIT Bank 1.04% Yield 1.05%
GE Capital Bank1.04% Yield 1.05%
Barclays Bank 1.00% Yield 1.00%
iGObanking.com 1.00% Yield 1.00%
Ally Bank 1.00% Yield 1.00%
Discover Bank 0.95% Yield 0.95%
American Express Bank 0.90% Yield 0.90%

Average Deposit Rates

Money Market/Savings Min Deposit $10,000 Current Average Rate 0.510%
Money Market/Savings Min Deposit $25,000 Current Average Rate 0.600%
Money Market/Savings Min Deposit $50,000 Current Average Rate 0.610%

Check on current variable deposit rates at anytime by searching our database at SavingsAccount.MonitorbankRates.com

1.30% APY - CIT Increases 1 Year CD Rate, Now Tied for Top 1 Year Rate

About two weeks ago, CIT Bank increased their 2 year CD rate. This week CIT Bank increased their 1 year CD rate. The new 1 year rate is at 1.29 percent with an APY of 1.30 percent. The old rate was 5 basis points lower at 1.24 percent with an APY of 1.25 percent. CIT Bank is also offering the same rate and yield on the bank's 1 year IRA CD.CIT Bank is now tied with E-Loan for the best 1 year CD rate in our database.It will be interesting to seeifSynchrony Bank increases their 1 year rate in the coming week.Synchrony Bank, along with CIT Bank, usually offer the highest 1 year rate.You can search for and compare CD rates for all certificate of deposit terms by using the rate table at Monitor Bank Rates. Read more...

Explore Other Rate Deals

CD Early Withdrawal Penalties

When you invest in a certificate of deposit be sure you don't need access to your money for the duration of the certificate of deposit term.

Best 1 Year CD Rates April 5, 2017

The Best CD Rates are Found Online

Finding the best CD rates available across the U.S. is easy but here are many factors to consider. Searching online for the best CD rates is obviously the best way to get the highest rate but did you know that some banks offer different CD rates for the same CD term?

Bank or Credit Union Offers and Deals

Bank of Internet Savings Account Rate Lowered
Northpointe Bank Money Market Rates
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First Republic Bank 5 month CD Rate
Mortgage Rates 7/26: Mortgage Rates Mixed This Week: 30 Year Mortgage Rates at 4.76%
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Live Oak Bank CD Rates - 2.15% 12-Month CD (Nationwide)
Average Mortgage Rates Hold Steady: 30 Year Mortgage Rates at 3.55%
New Leaders on our 1 Year CD Rates List as Greece Votes No to More Austerity
Live Oak Bank CD Rates and Review

Alternative Bank and Credit Union Offers to Explore

Nexity Bank CD Rates
Capital One Bank - Costco CD Rates
Thrid Federal Home Equity Line Promo
E Trade Bank $25 Promotional Savings Account Offer
GM is offering 0% Financing for 60 Months
Mortgage Rates Hit All-Time Low: 30 Year Mortgage Rates at 4.15%, 15 Year Mortgage Rates at 3.36%
EverBank's Competitive CD Rates and Financial Stability
Mortgage Rates Decline to New Record Lows Again: 30 Year Mortgage Rates at 4.48%, 15 Year Mortgage Rates at 3.83%
401K: Taking a 401K Loan
EmigrantDirect.com Savings Account

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