Compound Interest Calculator
CD 13-month Account from CIT Bank, a division of First-Citizens Bank and Trust with 3.25% APY and $1,000 minimum deposit
Use or Change These Amounts and Rates
The product CD 13-month Account from CIT Bank, a division of First-Citizens Bank and Trust with 3.25% APY and $1,000 minimum deposit and a tax rate of 30 compounded annually, with an initial amount of $20,000, after 10 years would have grown your savings to approximately $27,538. The interest earned would be $7,538 and the tax amount on the interest earned would be approximately $2,261.
Please note that this analysis assumes a constant interest rate and doesn't take into account any fees associated with the savings account.
The Results for CIT Bank, a division of First-Citizens Bank and Trust
Savings Boost of
$4,945 over 10 years
$4,945 over 10 years
Cash Savings
$20,000
Average Interest Earned
$331
CIT Bank, a division of First-Citizens Bank and Trust Interest Earned
$5,277
See comparison detail table
This analysis is for demonstrative purposes only and may change should certain assumptions prove incorrect. Savings rates may change and CD rates may not be renewable for the length of the term of the analysis. The difference between the bank rate entered and the average rate may not remain constant throughout the term.
Comparison Detail Table Close X
Average Rate Scenario
| Rate: 0.23% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 47 | 33 |
| 2 | 20,047 | 47 | 33 |
| 3 | 20,094 | 47 | 33 |
| 4 | 20,141 | 47 | 33 |
| 5 | 20,188 | 47 | 33 |
| 6 | 20,235 | 47 | 33 |
| 7 | 20,282 | 47 | 33 |
| 8 | 20,330 | 48 | 33 |
| 9 | 20,377 | 48 | 33 |
| 10 | 20,425 | 48 | 33 |
| TOTAL: | $473 | $331 |
CIT Bank, a division of First-Citizens Bank and Trust Scenario
| Rate: 3.25% |
Annual Interest |
Annual Interest (After Tax) |
|
|---|---|---|---|
| 1 | 20,000 | 650 | 455 |
| 2 | 20,650 | 671 | 470 |
| 3 | 21,321 | 693 | 485 |
| 4 | 22,014 | 715 | 501 |
| 5 | 22,730 | 739 | 517 |
| 6 | 23,468 | 763 | 534 |
| 7 | 24,231 | 788 | 551 |
| 8 | 25,018 | 813 | 569 |
| 9 | 25,832 | 840 | 588 |
| 10 | 26,671 | 867 | 607 |
| TOTAL: | $7,538 | $5,277 |
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Recent Rate Changes
| Date | APY |
|---|---|
| November 25, 2025 | 3.25% |
| September 29, 2025 | 3.35% |
| August 5, 2024 | 3.50% |
Featured CD Rates
| ONLINE BANKS | APY? | MIN? | ||
|---|---|---|---|---|
|
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4.50% |
$10,000 |
Learn More | |
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Last change: ↑0.65% on August 6. |
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4.50% |
$10,000 |
Learn More | |
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Last change: ↑1.20% on August 6. |
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|
4.50% |
$10,000 |
Learn More | |
|
Last change: ↑1.20% on August 6. |
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|
|
4.45% |
$500 |
Learn More | |
|
Last change: ↑0.40% on April 27. |
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|
|
4.45% |
$500 |
Learn More | |
|
Last change: ↑0.38% on April 27. |
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Customer Reviews for CIT Bank, a division of First-Citizens Bank and Trust (35)
3.6 out of 5 based on 27 ratings
RTN1949
June 2, 2022 | | Replies 2
I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a higher rate 0.90% for new customers than for someone like me who has been loyal. The higher 20 basis points is $1,000 a year on my account of $250,000 that they prefer to give to someone who will be there for a couple months instead of to me who would (would have) stayed another 14 years. What gives?
Is this review helpful? Yes:5 / No: 1
CIT Bank | Jun 6, 2022
Hi RTN1949, we consider a number of marketplace factors when setting or changing the interest rates on our CDs, Savings and Money Market accounts. You can earn a higher rate offered on Savings Connect by opening an account online in 10 minutes or less and transferring the funds from your current account to the new Savings Connect account. Thank you.
| Jul 28, 2022
I agree, I am earning far less now, so I am pulling out and going to another bank with far better interest!!!!!!
BeccaB-88
July 21, 2020 |
Opened account a month ago. I've already seen the rate fall a couple of times, but have no other complaints. Easy process and a clear easy to use site (unlike Ally where I was before).
Is this review helpful? Yes:6 / No: 0
Savvysaver
June 25, 2020 |
Don't get your hopes up. That 1.25% APY is old news. CIT is posting 1.00%
Is this review helpful? Yes:4 / No: 0
Savvysaver
April 28, 2020 |
I agree with JN Howard, CIT's rates have fallen into a lower tier. Their website is clunky and slow as well. I did manage to open a few Cds when they were more competitive. At one point earlier this year they offered the best rate I could find with a $1000 minimum deposit.
Is this review helpful? Yes:4 / No: 0
Stewart S
April 14, 2020 |
They defacto refused to remit funds for an ACH transfer forcing me to use other funds if I wanted that new account.
Is this review helpful? Yes:5 / No: 0
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