If you are looking to invest into a certificate of deposit or CD with a one-year term, check out CIT Bank. CIT Bank currently offers a one-year achiever CD at 1.10% that beats other 12 month CD offer out there.
For example, as of December 3, 2012, the highest 12 month CD rate offer is only at 1.05%APY offered by Colorado Federal Savings Bank with a minimum balance requirement of $5,000. This is followed by Ally Bank’s high yield CD at 1.04%APY, CIT Bank term CD at 1.01%APY and Nova CD, Discover CD Accounts, giantbank.com CD, California First National Bank CD, Goldwater Bank CD at 1.00%APY. CalFirst and GB, however, requires a higher minimum balance requirement at $5,000.
CIT Bank one-year achiever CD is the best 12 month CD offer so far at 1.10%APY. However, while this may sound very tempting, note that this CD rate offer can only be availed of if you meet the minimum deposit requirement of $25,000. If you cannot meet this requirement, then you’re much better of with Colorado Federal Savings Bank CD at 1.05%APY.
With CIT Bank’s one-year achiever CD, you have the option to increase your rate and add additional funds once during the CD term.