CIT Bank

2180 S 1300 East, Suite 250
Salt Lake City, Utah 84106

CIT Bank

2019 Overview

General Online Bank Information

Deposits FDIC Insured Yes
Insured Bank CIT Bank
FDIC Certificate # 35575
Date Established 2000
Assets $21.46 billion
Loans $14.88 billion
Deposits $16.81 billion
Capital $2.75 billion
Money that you deposit is held by CIT Bank. CIT Bank is an FDIC insured institution founded in 2000. It has approximately $21.90 billion in assets.

For a more detailed analysis of CIT Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - October 18, 2019

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online CD Rates
Online CD Rates APY MIN MAX
11 Month No Penalty CD
2.05% $1,000 - Learn MoreShow Less
12 Month Term CD
2.00% $1,000 - Learn MoreShow Less
18 Month CD
2.10% $1,000 - Learn MoreShow Less
24 Month Term CD
1.40% $1,000 - Learn MoreShow Less
36 Month Jumbo CD
1.30% $1,000 - Learn MoreShow Less
48 Month Jumbo CD
1.50% $1,000 - Learn MoreShow Less
60 Month Jumbo CD
1.70% $1,000 - Learn MoreShow Less

Bank Offers

CIT Has New 2.15% Savings Builder Rate
Oct 5, 2018

CIT has raised its online savings rate to 2.15% today for accounts over $25,000 or for accounts over $100 so long as you also transfer in $100 each month.  Those customers already in CIT money market accounts may be able to convert to this new rate.

CIT Raises Savings Builder Rate to 2.25%
Nov 21, 2018

CIT Bank has raised the rate on its Savings Builder account to 2.25%.   In order to get this rate, depositors must either (a) maintain a $25,000 account balance, or (b) maintain a $100 balance and deposit at least $100 in each monthly observation period.  BestCashCow has rated CIT Bank as a Best Bet for 2019 (read more here).

CIT Raises Savings Builder Rate to 2.45%
Jan 3, 2019

CIT Bank has raised its Savings Builder rate to 2.45%.   The Savings Builder account requires either a $25,000 minimum deposit, but can also be opened with as little as $100 with the rate extended each month that you add over $100 to the account each month.

CIT Bank Lowers Savings Builder
Sep 10, 2019

CIT has lowered its savings builder rate to 2.20% from 2.30%.   The account peaked at 2.45% earlier this year.   It continues to require a $25,000 balance or a $100 monthly deposit.   This Savings Builder account is still more competitive than the savings and money market account rates at most other major online banks.

Customer Reviews for CIT Bank

  • August 10, 2019 |

    Online Savings Rates

    I am not sure about all of the rave reviews. I've seen nothing but rate cuts and specious arguments about why I am earning less than the best rate (I have $200,000 on deposit, not $25). The website feels old and does not inspire confidence (versus Purepoint or Marcus). I see no reason to run, but no reason to stay.

  • January 04, 2019 |

    Online Savings Rates

    Current rate today Jan 4, 2019: 2.45%... Right on. I just transferred my money from brick and mortar to online CIT BANK. I will monitor and watch closely that they keep this competitive rate!!! Thanks to CIT BANK. Cheers!!!! Happy New Year. : )

  • December 25, 2018

    Online Savings Rates

    Opened a savings account at 1.85%. Current rates at 2.25% but they keep me at 1.85, said it's a "new type of account". Not worth the hassle. Also concerned about website cybersecurity; they have poor practices. Wait times were on the long side but I was able to get through. Not the best experience but still beats every brick and mortar bank.

  • August 18, 2018 |

    Online Savings Rates

    The website is not crisp and the call center staff is focused on "upselling" CDs. Otherwise, a good experience.

  • July 13, 2018 |

    CD rates good-but website is dated and could not transfer funds from savings to new cd. Holding period is too long. Site needs drastic improvement-see ALLY Bank.

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