CIT Bank Reviews, Rates and Information

AVG Customer Rating ★★★★★2.5000

About

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.

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.

Product Information

About CIT Bank's Products & Services

Founded in 2000, 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

More Products

  • RampUPTM CDs

  • Custodial UTMA

  • Traditional/Roth IRA

CIT Bank Rates

CIT Bank: National Interest Rates

All rates effective as of 12/31/2015

Rate (APY)

Account Type

Estimated Balance for 1 year

1.22%APY

1 Year CD

$25,305
1.30%APY

2 Year CD

$25,325
1.30%APY

3 Year CD

$25,325
1.50%APY

4 Year CD

$25,375
1.70%APY

5 Year CD

$25,425
0.72%APY

6 Month CD

$25,180
1.75%APY

5 Yr Jumbo CD

$25,438
0.95%APY

Savings

$25,238
1.35%APY

2 Yr Jumbo CD

$25,338
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Today's Featured Rate

CIT Bank Bank Fees

Type

Fee

National Average

Monthly Inactivity

$0.00
$7.00

Domestic Wire Transfer (Outbound)

$10.00
$22.00

Domestic Wire Transfer (Inbound)

$0.00
$9.00

Customer Reviews

CIT Bank Rates are Some of the Best

4

May 20, 2013 by

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.

Fails to transfer money

Mar 28, 2016 by

BEWARE THIS BANK!! Would not transfer my money to my local checking account!! I decided to try CIT bank because the interest is so much better than local banks. Recently, I had a couple of large payments due in a few days for which I didn't have enough money in my local bank account. So I put in a transfer request from my CIT account to my local account. The transfer said "successful" and I had a confirmation #. The money never got transferred to my checking account so I went back to my CIT account and the transfer had been inexplicably cancelled even though I had more than sufficient funds. I quickly put in another transfer but it was too late to make it to my checking account in time and so my account was overdrawn and resulted in fees. Upon contacting CIT, they could not give me a satisfactory reason as to why my transfer never occurred even though I got a confirmation # and said they would not reimburse me my local bank fees. I have closed my accounts and will stick to my local bank in the future. VERY UNPROFESSIONAL bank and not worth the better interest rate! AVOID this bank!!

Bank fails to transfer money

1

Mar 28, 2016 by

BEWARE THIS BANK!! Would not transfer my money to my local checking account!! I decided to try CIT bank because the interest is so much better than local banks. Recently, I had a couple of large payments due in a few days for which I didn't have enough money in my local bank account. So I put in a transfer request from my CIT account to my local account. The transfer said "successful" and I had a confirmation #. The money never got transferred to my checking account so I went back to my CIT account and the transfer had been inexplicably cancelled even though I had more than sufficient funds. I quickly put in another transfer but it was too late to make it to my checking account in time and so my account was overdrawn and resulted in fees. Upon contacting CIT, they could not give me a satisfactory reason as to why my transfer never occurred even though I got a confirmation # and said they would not reimburse me my local bank fees. I have closed my accounts and will stick to my local bank in the future. VERY UNPROFESSIONAL bank and not worth the better interest rate! AVOID this bank!!

CIT Bank Customer Service Information

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2180 S 1300 East Suite 400 Salt Lake City, UT 84106 1-855-GO-BankCIT
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