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Institutional Deposit Group

Get custom term certificates of deposit and money market savings accounts with superior service and pricing.

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Money Market rates up to 1.30%

Minimum deposit of $25,000 required.

Call us at 888-984-7692

CIT's institutional deposit group

CIT offers CDs and money market savings accounts for middle market businesses. We have an IDC rating of 283 and are committed to service, pricing, quality and execution.

Custom term Certificate of Deposit (CD)

The rates listed below are for commercial and institutional customers only. CDs require a minimum opening deposit of $50,000. Current interest rates and Annual Percentage Yield (APY) are effective as of 4/22/2019. Rates are subject to change. 

Custom Term Certificate of Deposit Interest Rates APY
31-89 Days 0.10%0.10%
3-5 Months 0.25%0.25%
6-8 Months 1.35%1.36%
9-11 Months 0.61%0.61%
12 Months1.60%1.61%
13-17 Months1.70%1.71%
18-23 Months1.75%1.77%
24-35 Months1.75%1.77%
36-47 Months1.20%1.21% 
48-59 Months1.30%1.31% 
60 Months1.40%1.41% 

Product features and requirements

  • Minimum opening commercial deposit is $50,000.00. 
  • The CD is NOT callable. Once an account is opened and funded, the rate is guaranteed for the term of the account. Withdrawals may reduce earnings. 
  • Early withdrawal penalties may apply.
  • CD terms range from 31 days to five years. 

Renewal

Unless we notify you otherwise, your CD will automatically renew for the minimum renewal term for your type of account at the rate then in effect for accounts of the same type and amount. CD accounts that do not renew automatically will stop earning interest at maturity. Unless we specifically state otherwise, any bonus we are offering to new accounts will generally not apply to automatically renewing CD accounts. 

Interest

Interest is compounded daily and can be paid monthly, quarterly, semi-annually or annually, by ACH or check.  

Money Market savings

Money Market Savings Interest Rates APY
<$10,000 0.05% 0.05%
$10,000-$24,999 0.15% 0.15%
$25,000-$5,000,000+ 1.30% 1.31%

Product features and requirements

  • You can avoid a $15 monthly service fee in one of two ways: Maintain a $5,000 minimum daily balance, or 
    maintain a $10,000 average monthly balance. 
  • Interest is variable, compounded daily and paid monthly. 
  • Check writing, ATM or debit card is not available.
  • You earn a competitive, tiered interest rate on the entire daily balance.
  • Limited transaction account. See account disclosure for more information. 
  • Fees may reduce earnings.

Contact us today

We are deeply dedicated to our customers. By committing to excellence in service, pricing, quality, and execution, we offer the institutions we serve a premier opportunity to save.