CIT Bank® Savings Account Review

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National Savings Rate Average*: 0.33%

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National Savings Rate Avg.*: 0.33%
See 10x & higher rates from our partners

Read our review & open a new CIT Bank savings account easily and quickly, typically in 5 minutes or less.

CIT Bank, N.A., offers competitive interest rates, an excellent mobile banking experience, and low opening deposits with no on-going monthly maintenance fees.

Open your account with confidence knowing your deposits are FDIC insured up to $250,000 per depositor and backed by the full faith and credit of the United States Government.

Rating:

APY

4.20%

CIT Bank® Savings Connect Details

High Yield Savings Account
Min. initial deposit: $100
4.20% APY
No Monthly Service Fees
No Minimum Monthly Balances
12x National Avg. APY
Mobile App Online Banking
Deposit Checks Remotely & Make Transfers Easily
FDIC Insured up to $250,000
Sign Up in Under 5 Minutes
See Site for Details

Open Account

On CIT Bank's Secure Site, Member FDIC

Main Benefits You Get with CIT Bank

Proven Track Record:

CIT Bank has been helping customers for over 100 years. Founded in 1908, CIT Bank is now part of First Citizens BancShares, Inc.

They focus on providing excellent customer service, an incredible banking experience all while offering some of the most competitive interest rates on the market to their customers.

Competitive APY:

One of the standout features of this account is the high interest rate offered by CIT Bank.

CIT Bank offers 4.20% APY.

The rate is significantly higher than many other savings accounts, allowing customers to grow their savings faster. This is a great option for customers who are looking to save for a specific goal, such as a down payment on a house or a new car, or for those who simply want to grow their savings for the future.

This APY is substantially higher than what you’ll find at most brick-and-mortar banks and even most online banks. The current APY is over 10x higher than the national average.

No monthly maintenance fee:

Fees. Everyone’s worst nightmare when it comes to financial services. You should avoid them like the plague.

Thankfully, in addition to competitive APYs, CIT Bank has no monthly fees associated with their savings accounts. Unlike many of the big banks who charge several fees for their savings accounts.

Ranked #1 in Customer service:

What sets CIT Bank and their savings accounts a part from the rest is their customer service and excellent mobile banking experience.

The bank has a team of knowledgeable and friendly representatives who are available to assist with any questions or concerns customers may have. They are able to resolve issues quickly and efficiently, ensuring a positive experience for all customers.

CIT Bank was recently ranked #1 in Customer Service by American Banker.

Low minimum balance requirement:

You can open a savings account with CIT Bank for as little as $100. Once you open your new savings account, there are no monthly minimum balance thresholds to meet. Unlike most banks which will charge you a fee if your monthly balance falls below a certain point.

FDIC insured:

CIT Bank is federally insured by the Federal Deposit Insurance Corporation. This covers you for as much as $250,000 per depositor, per institution. This provides peace of mind for customers, knowing that their savings are protected in the unlikely event of a bank failure. Think of it as an insurance policy that you don’t have to pay for.

Liquidity:

High yield savings accounts are generally very liquid, which means that you can access your money easily and without penalty. This can be useful if you need to make a purchase or withdraw money in a pinch.

Focus on Technology:

Cit Bank’s mobile apps give you 24/7 access to your savings account and customer service is only a few taps away if you need them. The ease of their mobile app online banking lets you deposit checks remotely & make transfers easily.

The app is available for both iOS and Android devices and can be downloaded from the App Store or Google Play. It has similar features as the online banking platform, making it easy for customers to manage their money no matter where they are.

It’s also compatible with Apple Pay® and Samsung Pay™ so you can make quick & secure payments online or in-person at your favorite stores.

Overall:
CIT Bank’s high-yield savings account is a fantastic option for individuals looking to grow their savings. The competitive interest rate, user-friendly online banking platform, and excellent customer service make it a great choice for anyone looking to reach their financial goals. Whether you are saving for a specific goal or simply looking to grow your savings for the future, CIT Bank’s high-yield savings account is worth considering.