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CIT Bank

Savings and CD Accounts
CIT Bank is an online bank offering an interest-bearing checking account, two savings accounts, several CD accounts, and a money market account.


CIT Bank is an online bank that is the principal bank subsidiary of CIT Group,  a financial holding company with more than 100 years of experience. CIT Bank was founded in 2009 and is headquartered in Pasadena, California. CIT Bank offers a range of savings accounts and an e-checking account with competitive rates and no fees. It also provides home loans, as well as business and commercial banking services,

CIT Bank is best for people looking for competitive rates in online savings products who want to maximize their savings, access their money, and pay no fees.

CIT Bank: Banking Experience

Online and Mobile Banking

CIT Bank offers a mobile app available for download on Google Play and App Store to manage your money from anywhere. The mobile banking app takes care of the basics, such as letting you check your transaction history and transfer funds between your CIT Bank accounts.

You can also access your account 24/7 online or by using CIT’s automated telephone banking system.

Customer Service

CIT Bank offers customer service hours via phone from 9 a.m. until 9 p.m. Eastern on weekdays and Saturdays on reduced hours. CIT Bank’s website also has a FAQ section to get some answers if you don’t want to wait in the phone queue.

CIT Bank Fees

CIT Bank offers accounts with no monthly fees. However, they require a minimum balance or minimum opening deposit. You can look ou for activities that require a fee, like international ATM fees, which are 1% of the total transaction amount when you withdraw cash at an international location, debit card replacement which is $10 after you have used the annual free one, or the wire transfers fees that depend on your account balances.


CIT Bank, N.A. is a Federal Deposit Insurance Corporation (FDIC) member, which means your deposit accounts have FDIC insurance up to the legal limits.

CIT Bank Personal Banking

Interest Bearing e-Checking Account

CIT Bank offers an e-checking account that offers competitive rates allowing you to earn interest while keeping easy access to your money. The account APY varies depending on the balance on the account; the higher the balance, the higher the annual percentage yield. There is a minimum deposit of $100 to open the account, but there are no monthly maintenance fees.

The account does not come with checks, but you can use your debit card to withdraw money and make payments using Zelle, Apple Pay, Samsung Pay, and Bill Pay. CIT Bank doesn’t charge ATM fees, and they will refund you up to $30 per month for fees charged by other banks.

You can link the CIT e-checking account to other savings products of CIT Bank to help you grow your savings.

Savings Connect Account

The CIT Savings Connect Account combines the ability to earn interest of an online savings account with the flexibility of a checking account.

You can open a Savings Connect account that is linked to your eChecking Account to make regular deposits. There is a $100 minimum deposit to open this account. They offer two APYs tiers, and to earn the higher one, you simply need to make a higher deposit amount each month from your eChecking account to your Savings Connect account.

Savings Builder Account

The CIT Savings Builder is a high yield savings account with a $100 minimum opening deposit and offers different APYs depending on your daily balance and your monthly deposits into the account. 

Money Market Account

You can earn a competitive interest rate with a CIT Bank Money Market Account, a solution that is best for you if you want to save for an emergency or for a large purchase like buying a house. There is a $100 minimum deposit to open an account and no monthly service fees. You still have access to your funds but are limited to six transactions per statement cycle. To fund the account, you can easily deposit checks or make transfers from the CIT mobile app.

CIT Bank Certificates of Deposit (CDs)

CIT offers a range of CD accounts with rates that are competitive compared to most other banks. The APY of CIT’s is higher than the national average.

Terms CDs 

Terms CDs offered by CIT Bank are standard CDs that require you to lock up your savings for a period of time. The longer you can lock your money, the higher APY you can earn. Terms for CIT CDs range from 6 months to 5 years and have a minimum opening deposit of $1,000.

No-Penalty CD 

If you want to lock in a rate for 11 months but also keep your options open to withdraw your funds, you may want to consider a CIT Bank No-Penalty CD. This type of Certificate of Deposit account allows you to withdraw your money before maturity with no penalty.

Jumbo CDs 

With a CIT Jumbo CD, you can earn higher APYs on higher deposits. With terms from 2 years to 5 years, these CD accounts have a minimum opening deposit of $100,000 and have no monthly maintenance fees.

Other Financial Products From CIT Bank 

Aside from a checking account, two savings accounts, several CD accounts, and a money market account, CIT Bank is an equal housing lender that can also help you secure a mortgage. 

CIT Bank Business and Commercial Banking

CIT Bank also offers business and commercial banking services, such as small business lending and commercial financing.

How to Bank With CIT Bank 

If you want to open an account with CIT bank, you can do so online by visiting CIT Bank’s website. You will need to provide your personal information, like your home address, email address, phone number, and social security number. After completing the process, you can easily fund the account, depending on the type of account you are opening, with the minimum balance required. The whole process of opening an account with CIT Bank online takes about 5-10 minutes.

CIT Bank

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CIT Bank

Why Us

Competitive Rates

CIT Bank offers competitive rates on savings accounts, money markets, and CD accounts.

No ATM Fees

CIT Bank does not charge any ATM fees and they will reimburse up to $30 of ATM fees charged by other banks.

Online Bank

Manage your accounts from anywhere using the mobile app to view balances and transfer money between your accounts.


Open an Account

Open an account online with CIT Bank to maximize your savings by accessing competitive interest rates and paying no monthly maintenance fees.

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