CIT Bank
2180 S 1300 East, Suite 250
Utah 84106
2022 Overview
General Online Bank Information
Money that you deposit is held by First-Citizens Bank & Trust Company. First-Citizens Bank & Trust Company is an FDIC insured institution founded in 1898. It has approximately $108.47 billion in assets.| Deposits FDIC Insured | Yes |
| Insured Bank | First-Citizens Bank & Trust Company |
| FDIC Certificate # | 11063 |
| Date Established | 1898 |
| Assets | $108.47 billion |
| Loans | $64.8 billion |
| Deposits | $91.73 billion |
| Capital | $10.82 billion |
For a more detailed analysis of First-Citizens Bank & Trust Company's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - September 24, 2022
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings Connect
|
2.40% | $100 | - |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 11 Month No Penalty CD
|
2.50% | $1,000 | - |
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|
| 12 Month Term CD
|
0.35% | $1,000 | - |
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|
| 18 Month Term CD
|
0.30% | $1,000 | - |
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|
| 24 Month Term CD
|
0.40% | $1,000 | - |
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|
| 36 Month Term CD
|
0.40% | $1,000 | - |
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|
| 48 Month Term CD
|
0.50% | $1,000 | - |
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|
| 60 Month Term CD
|
0.50% | $1,000 | - |
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|
Bank Offers
CIT Has New 2.15% Savings Builder Rate
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%
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%
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
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.
CIT Money Market Rate Lowered to 1.20% APY
CIT Bank has lowered its money market rate from 1.30% to 1.20%.
CIT's Money Market Rate is Now 1.06% APY
CIT has lowered its money market rate to 1.06% APY. This rate is still higher than the Savings Builder rate which now stands at 1.01% APY.
CIT Money Market Rate Lowered to 1.00% APY
CIT Bank has lowered its money market rate from 1.06% to 1.00% APY.
CIT Raises Online Money Market Rate to 0.55% APY
CIT has raised its online money market rate from 0.45% to 0.55% APY.
Climate Initiatives
CIT Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.
Customer Reviews for CIT Bank (36)
Doretha Harris
September 24, 2022
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Is this review helpful? Yes:0 / No: 0
RTN1949
June 2, 2022 | | Replies 2
I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a higher rate 0.90% for new customers than for someone like me who has been loyal. The higher 20 basis points is $1,000 a year on my account of $250,000 that they prefer to give to someone who will be there for a couple months instead of to me who would (would have) stayed another 14 years. What gives?
Is this review helpful? Yes:4 / No: 0
CIT Bank | Sep 24, 2022
Hi RTN1949, we consider a number of marketplace factors when setting or changing the interest rates on our CDs, Savings and Money Market accounts. You can earn a higher rate offered on Savings Connect by opening an account online in 10 minutes or less and transferring the funds from your current account to the new Savings Connect account. Thank you.
| Sep 24, 2022
I agree, I am earning far less now, so I am pulling out and going to another bank with far better interest!!!!!!
BeccaB-88
July 21, 2020 |
Opened account a month ago. I've already seen the rate fall a couple of times, but have no other complaints. Easy process and a clear easy to use site (unlike Ally where I was before).
Is this review helpful? Yes:5 / No: 0
Savvysaver
June 25, 2020 |
Don't get your hopes up. That 1.25% APY is old news. CIT is posting 1.00%
Is this review helpful? Yes:4 / No: 0
Savvysaver
April 28, 2020 |
I agree with JN Howard, CIT's rates have fallen into a lower tier. Their website is clunky and slow as well. I did manage to open a few Cds when they were more competitive. At one point earlier this year they offered the best rate I could find with a $1000 minimum deposit.
Is this review helpful? Yes:4 / No: 0
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