CIT Bank

CIT Bank

2180 S 1300 East, Suite 250
Utah 84106

Deposit Rates APY Vs.Others
Savings 2.40% 3.05% →
1-Year CD 0.35% 3.30% →
2-Year CD 0.40% 3.56% →
3-Year CD 0.40% 3.61% →
4-Year CD 0.50% 3.60% →
5-Year CD 0.50% 3.75% →

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
Online Savings and Money Market Rates APY MIN MAX
Savings Connect
2.40% $100 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
11 Month No Penalty CD
2.50% $1,000 - Learn More
12 Month Term CD
0.35% $1,000 - Learn More
18 Month Term CD
0.30% $1,000 - Learn More
24 Month Term CD
0.40% $1,000 - Learn More
36 Month Term CD
0.40% $1,000 - Learn More
48 Month Term CD
0.50% $1,000 - Learn More
60 Month Term CD
0.50% $1,000 - Learn More


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.

CIT Money Market Rate Lowered to 1.20% APY
Jun 10, 2020

CIT Bank has lowered its money market rate from 1.30% to 1.20%.

CIT's Money Market Rate is Now 1.06% APY
Jun 25, 2020

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
Jul 7, 2020

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
Mar 30, 2022

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)

  • September 24, 2022


    I saw that you are a financial advisor or work in the financial field. Maybe you're already using LinkedIn to grow your network in a sustainable way and attract more clients to your business. I can relate, because I use LinkedIn to do just that, in an automated way!

    To make it easier for financial advisors to attract new clients in an automated and predictable way, I've created a free checklist that will help you grow your LinkedIn network in an automated way, too.

    You can download this free checklist right now at

    It's called "The Linked Success Code", it's free, and it includes the following information you need to get started right away:

    + How to optimize your LinkedIn profile
    + The best times to post for maximum reach
    + How to grow your network on autopilot.

    You can download the checklist at

    Let me know if there is anything else I can do for you.
    I wish you the best of success!

    Yours sincerely

  • 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?

    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!!!!!!

  • 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).

  • June 25, 2020 |

    Online CDs 12 Month Rates

    Don't get your hopes up. That 1.25% APY is old news. CIT is posting 1.00%

  • April 28, 2020 |

    Online CDs 12 Month Rates

    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.

Add Your Review

Rate it here →