NEW YORK ( MainStreet) -- When it comes to online banking, the philosophy of bigger banks has often been to bundle in some online banking services with their existing bricks-and-mortar branches and leave it at that.But CIT Group ( CIT), a Fortune 500 bank that specializes in offering commercial loans to small business and middle-market clients, has bucked the trend and announced an online FDIC-insured consumer bank, CIT Bank.
|CIT Group, a Fortune 500 bank that specializes in offering commercial loans to small business and middle-market clients, has opened an online FDIC-insured consumer bank, CIT Bank.|
- Term CDs: Allow consumers to lock in interest rates for between six months and three years.
- Achiever CDs: Offer consumers a one-time opportunity to increase their savings potential. If CIT Bank's CD rates go up, customers can opt to take advantage of the higher rate by raising their rate. Customers can also elect to increase their deposit level at any time during the term of the CD.
- Jumbo CDs: Offer consumers higher CD rates for larger deposits.