There is a new lower rate on the 1 year CD rate at CIT Bank. The new rate is 1.24 percent with an APY of 1.25 percent. The old rate was 1.29 percent with an APY of 1.30 percent. CIT Bank increased the rate to 1.30 percent APY just a few weeks ago but decided to lower it again. You can see how many times this 1 year certificate of deposit rate has been changed by going to CIT Bank 1 Year CD Rate.