CIT Bank, a division of First-Citizens Bank and Trust

2180 S 1300 East, Suite 250
Utah 84106

Deposit Rates APY Vs.Others
Savings N.A. 1.65% →
1-Year CD 0.35% 2.02% →
2-Year CD 0.40% 3.00% →
3-Year CD 0.40% 3.25% →
4-Year CD 0.50% 3.30% →
5-Year CD 0.50% 3.35% →

2022 Overview

General Online Bank Information

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.

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

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 - June 26, 2022

Online CD Rates
Online CD Rates APY MIN MAX
11 Month No Penalty CD
0.30% $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, a division of First-Citizens Bank and Trust 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, a division of First-Citizens Bank and Trust (34)

  • June 2, 2022 | | Replies 1

    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 | Jun 26, 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.

  • 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.

  • April 14, 2020 |

    They defacto refused to remit funds for an ACH transfer forcing me to use other funds if I wanted that new account.

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