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CIT Bank Reviews and Rates

CIT Bank offers personal banking products as a subsidiary of CIT (NYSE: CIT), a commercial lender with a strong presence in the global industrial market. Established in 1908, parent company CIT maintains a leading role in the online lending market with approximately $14 billion in deposits and more than $20 billion in assets.
Rates effective as of 08/27/15

CIT Bank (FDIC certificate 35575) was established in 2000 and operates online. Mr. Randall Chesler, President of CIT Bank, leads a team of 1194 employees.The bank's parent holding company, CIT GROUP INC. is based in Livingston, NJ.

CIT Bank, headquartered in Salt Lake City, UT, is rated four stars for financial strength by BauerFinancial, Inc., the nation’s leading bank rating firm. As a general rule, a four star rating indicates, among other things, that this institution has at least 1½ times the capital that regulators require, is profitable (or operating with a very small loss) and has kept its delinquent loans in check.

CIT Bank is a state chartered commercial bank and not a member of Federal Reserve. With $21 billion in total assets, the FDIC classifies the bank’s asset concentration as "Commercial Lenders" which is defined as institutions whose commercial and industrial loans, plus real estate construction and development loans, plus loans secured by commercial real estate properties exceed 25 percent of total assets.

Products & Services

Personal

CIT Bank provides a robust offering of personal finance products comprising Term CDs, high-yield saving accounts, custodial accounts and IRAs. You can access your CIT Bank account online using your desktop or mobile device.

CIT Bank Products

High-Yield Savings
Term CDs
Jumbo CDs
RampUP™ CDs
Custodial UTMA
Traditional/Roth IRA

Founded in 2000

Locations, Hours, & Customer Service Contact

Hours of Operation

Monday - Friday
7:00AM - 9:00PM EST
Saturday
9:00AM - 5:00PM EST
Sunday
11:00AM - 4:00PM EST

CIT Bank Location : Headquarters

2180 S 1300 East Suite 400
Salt Lake City, UT
84106
Phone: 1-855-GO-BankCIT
Get Directions To My Local Branch

CIT Bank: National Interest Rates

I want to Deposit:

Rate (APY)
Account Type
Estimated Balance for 1 Year
1.25%
1 Year CD
$25,313
1.30%
2 Year CD
$25,325
1.50%
3 Year CD
$25,375
1.82%
4 Year CD
$25,455
2.20%
5 Year CD
$25,550
0.45%
6 Month CD
$25,113
1.05%
Savings
$25,263
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CIT Bank is offer low-fee deposit accounts that include a high-yield savings account, certificates of deposit, and IRAs. Its savings account features tiered rates to help customers earn more interest as their savings grow. CIT Bank CDs include a range of options, like flexible CDS , fixed-rate CDS and jumbo CDs, with terms of up to five years. Like many online banks, CIT Bank provides above-market interest rates while keeping fees at a minimum for deposit accounts. CIT Bank also offers traditional and Roth IRAs. CIT Bank accounts can be accessed 24/7 through its site and mobile app.

Banking Fees

Type
Fee
National Average
Monthly Inactivity
$0.0
$7
Non sufficient Fund Overdraft
N/A
$9
Stop Payment Item
N/A
$27
Return Deposit
N/A
$14
Domestic Wire Transfer (Outbound)
$10
$22
Domestic Wire Transfer (Inbound)
$0.0
$9
Non-Bank ATM
N/A
$1

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CIT Bank Reviews

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CIT Bank Rates are Some of the Best

May 20, 2013 by Rachel

I have had CIT Bank for just about a year and their rates are among the best. If you have money that you want to set and forget I would recommend CIT Bank for all your deposit needs.


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