CIT Bank Review 2022 Bankrate
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Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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There are no monthly fees.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
There is no fee to use out-of-network ATMs.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .
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We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Our articles, interactive tools, and hypothetical examples contain information to help you conduct research but are not intended to serve as investment advice, and we cannot guarantee that this information is applicable or accurate to your personal circumstances. Any estimates based on past performance do not a guarantee future performance, and prior to making any investment you should discuss your specific investment needs or seek advice from a qualified professional.
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The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.Editorial disclosure
All reviews are prepared by our staff. Opinions expressed are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including any rates, terms and fees associated with financial products, presented in the review is accurate as of the date of publication. CIT BankCIT Bank Review 2022
Karen Bennett is a consumer banking reporter at Bankrate. She uses her finance writing background to help readers learn more about savings and checking accounts, CDs, and other financial matters. Updated November 10, 2022 Bankrate logoThe Bankrate promise
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At a glance
4.6 Bankrate Score CDs Checking Savings MMA About Bankrate Score Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services.Overview
CIT Bank is a great choice for customers who are looking for savings accounts and CDs that pay above average yields.Highlights
ATM Fee Refunds High APY Compare offers Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.25 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsCIT Bank
Member FDIC Savings Account Details 3.25 % APY Min balance for APY No Monthly Fees. No Minimum Deposit. Open in about 5 Minutes. Member FDIC Savings Account 3.60 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsBask Bank
Member FDIC Savings Account Details 3.60 % APY Min balance for APY 0 Monthly Acct Fees. No Balance Cap to Earn APY. Member FDIC Savings Account 3.52 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. balance for APY Offer detailsVio Bank
Member FDIC Savings Account Details 3.52 % APY Min balance for APY Save Smart. Earn More. FDIC Insured. Bankrate 5-Star Rated.Overall
CIT Bank is an online institution that offers competitive annual percentage yields (APYs) on its savings accounts. It also offers a checking account and a money market account.Pros
CIT offers competitive yields on its savings and CD accounts. There are no monthly fees for savings accounts. The checking account earns interest.Cons
The APYs for CDs are not the best available nationally. The bank doesn’t have physical branch locations.CIT Bank bank products
Savings CD Money Market Checking 4.6 Bankrate ScoreCIT Bank savings overview
CIT Bank’s Savings Builder account offers a competitive APY, but the topmost rate requires maintaining a $25,000 monthly balance or an initial $100 deposit and recurring deposit of $100 or more every month.There are no monthly fees.
Pros
The account offers a competitive rate. The Savings Builder can motivate you to save since you need to deposit $100 each month in order to get the top APY. There are no monthly fees.Cons
To earn the higher APY, either a steep minimum balance is required or you must deposit $100 or more each month. Higher yields can be found at other banks. Current Savings Rate Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Savings Account 3.25 % APY Info Bankrate Savings rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min balance for APY Offer details Offer detailsCIT Bank
Member FDIC Savings Account Details 3.25 % APY Min balance for APY No Monthly Fees. No Minimum Deposit. Open in about 5 Minutes. 4.3 Bankrate ScoreCIT Bank CD overview
New CIT Bank customers have access to standard CDs, jumbo CDs and a no-penalty CD. Standard CDs require minimum opening deposits of $1,000. The yield is higher than the national average, but higher APYs can be found elsewhere.Pros
The bank offers a wide variety of terms.Cons
Other online banks pay higher yields. CDs with lower minimum balance requirements can be found. Current CD Rate Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC CD 4.25 % APY Info Bankrate CD rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. Min. deposit Term Offer details Offer detailsCIT Bank
Member FDIC CD Details 4.25 % APY Min. deposit Term 4.9 Bankrate ScoreCIT Bank money market overview
The yield on the bank’s money market account is competitive. The account has no monthly fee and the top APY is earned on any balance. It only requires $100 to open, making it a good option for most savers.Pros
The APY is competitive. There is no monthly fee. There is only a $100 minimum balance.Cons
Money market accounts that earn higher APYs are available. 4.5 Bankrate ScoreCIT Bank checking overview
CIT Bank offers an interest-bearing checking account. As long as you deposit $100 into the account, you will earn interest. But you need to keep a minimum balance of $25,000 to earn the highest APY.There is no fee to use out-of-network ATMs.
Pros
It offers a top APY. There are no monthly fees. There is no fee to use out-of-network ATMs.Cons
The minimum deposit to open the account is $100; some online banks are free to open an account. Compare Offer Advertiser DisclosureAdvertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover.
How We Make Money
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you. Member FDIC Checking Account 2.50 % APY Info Bankrate Checking rating = 5/5 Bankrate scores are objectively determined by our editorial team. Our scoring formula weighs several factors consumers should consider when choosing financial products and services. To open To avoid fees Offer details Offer detailsSoFi
Member FDIC Checking Account Details 2.50 % APY To open To avoid feesBank experience
The mobile banking app takes care of the basics, such as letting you check your transaction history and transfer funds between your CIT Bank accounts. CIT has no branches, but customers can reach a customer service representative by phone 9 a.m. to 9 p.m. Eastern time weekdays. Representatives are available Saturday but with reduced hours. Accounts can be accessed 24/7 online or by using CIT's automated telephone banking system.About CIT Bank
Review methodology
With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. .