Get updated promotions and offers from CIT Bank here. Established in 2000, they are under the umbrella of CIT Group (a Fortune 500 company).
- CIT Bank (Commercial Investment Trust) consistently offers some of the best nationwide rates.
- They offer Savings and Money Market Accounts, Certificates of Deposit (CDs), and IRA CDs.
- Operating online only, they avoid the higher overhead costs of physical branch locations and can pass on theses savings in the form of higher rates.
See the current offers below.
Best Offers From CIT Bank
Are Online Banks Safe?
CIT Bank offers a secure banking experience.
Despite not having physical branches, online banks are still protected by FDIC insurance, just like traditional brick-and-mortar banks.
CIT Bank, being FDIC insured, ensures that your deposits are safeguarded up to $250,000 in the event of a bank failure. This coverage applies to the total combined deposit held across First Citizens Bank and CIT Bank.
CIT Bank Pros & Cons
Here are the advantages and disadvantages of banking with CIT.
Pros of banking with CIT:
- Offers competitive interest rates compared to traditional banks
- No monthly service fees for any of CIT’s accounts
- Low opening deposits of $100 for checking and savings accounts, and $1,000 for CDs
- Minimal banking fees
- Convenient remote check deposit feature
Cons of banking With CIT:
- Inability to write checks from the checking account
- Possible wait times when contacting customer service by phone
READ MORE: GET THE $500 OFFER FROM BMO BEFORE IT ENDS
CIT Bank Fees
Common banking fees waived by CIT Bank:
- No account opening fees
- No monthly service fees
- No account closing fees
- No fees for incoming wire transfer
- No mailed check fees
- No online transfer fees
Potential fees you may encounter with CIT Bank:
- $10 fee for outgoing wire transfers (waived for accounts with a balance of $25,000 or more)
- $10 excessive transaction fee (applies to money market accounts)
- $30 fee for bill pay stop payment
- $30 overdraft fee
- $10 fee for debit card replacement (1 free card per year)
- 1% of the transaction amount for international ATM withdrawals