CIT Bank :
Online Savings Account - 0.45% APY

• Earn 7x the national average
• Quick and easy access to funds
• No monthly service fees
• 24/7 secure & award-winning banking
• A limit of six transactions per statement cycle
• Deposit checks remotely and make transfers with the CIT Bank mobile app
• Interest earned on entire daily balance. Compounded daily; paid monthly
• Excessive Transaction Fee : $10 per transaction; assessed from the first violation. $50 monthly cap.


Fee and Feature Guide

Savings Account
Interest Rate
APY 0.45%
Minimum deposit amount $100.00
Maximum deposit amount N/A
Balance Requirements
Minimum Opening Deposit $100.00
Minimum Balance to Avoid Fees $0.00
Minimum Required Balance $0.00
Fees
Monthly Maintenance Fee N/A
Foreign ATM Fees N/A
Insufficient Funds Fee $25.00
Incoming Wires N/A
Statements
Paper Statements ×
Online Statements Yes
Online and Telephone Banking
Online Banking Yes
Telephone Banking Yes
Mobile Banking Yes
Deposit Checks with Mobile Device Yes
Free Bill Pay Yes
Online Bill Payments Required Yes
Account Opening
Open Online Yes
Insured by F.D.I.C.

Reviews on CIT Bank

| Jul 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).

| Jun 25, 2020

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

| Apr 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.

| Apr 14, 2020

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

| Aug 10, 2019

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.