The Annual Percentage Yield (APY) for the 8-Month Certificate of Deposit (CD) is 1.65%, the APY for the 17-Month CD is 2.30%, and the APY for the 28-Month CD is 2.50%. These APYs are accurate as of May 11, 2018 and are subject to change without notice. The 8-Month, 17-Month, and 28-Month CD products (“Special Offer CDs”) may be discontinued at any time. The minimum deposit required to open a Special Offer CD is $10,000. Funds deposited must be new money, meaning funds not already on deposit or held at OneWest Bank, a division of CIT Bank, N.A. ("OneWest Bank") or BankOnCIT.com ("CIT") at the time of account opening. Funds withdrawn from OneWest Bank or CIT within 90 days prior to account opening are also restricted. Minor accounts and employees of CIT Group Inc. or any of its affiliates, including CIT Bank, N.A. and its OneWest Bank division, are ineligible. The Special Offer CDs are personal accounts and cannot be opened under the name of a business. The Special Offer CDs are not available as an on-line Individual Retirement Account (IRA).
- Upon maturity, the 8-Month CD will be automatically renewed as a 9-Month Term CD at the then-published APY.
- Upon maturity, the 17-Month CD will be automatically renewed as an 18-Month Term CD at the then-published APY.
- Upon maturity, the 28-Month CD will be automatically renewed as a 2-Year Term CD at the then-published APY.
The interest rate and APY apply to all balances and will remain constant for the initial term of the CD account. Upon automatic renewal as described above, no interest will be paid on balances falling below $1,000. A penalty may be imposed for early withdrawal. Fees could reduce earnings on the account. See the OneWest Bank Account Disclosures for Personal Accounts for complete terms, fees and conditions.
** From MONEY, November 2017 © 2017 Time Inc. Used under license. MONEY and Time Inc are not affiliated with, and do not endorse products or services of, OneWest Bank.