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CIT Bank Promotions

CIT Bank is currently offering eleven promotions. Read our in-depth review of CIT Bank to see why CIT Bank scored 4.5 stars out of 5. We like their high apy, no monthly service fees, and low opening deposits.

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About CIT Bank

CIT Bank offers some of the highest interest rates on the market. It is an online-only bank. Because there is no overhead typical of brick-and-mortar banks, CIT can pass the savings to customers in forms of higher interest rates.

CIT offers interest checking, high-yield savings, money market, and a variety of CDs. There are no maintenance fees on any of the deposit accounts.

How to Get the Best Promo at CIT Bank

  • Look for CIT Bank promo code. Keep your eye out on our page for coupons. Once in a while, CIT offers deal coupons to new customers. If you see an offer on our page, you can find the promo codes when you click through to the deal. Be aware of when the offer expires and act on it quick.

  • Wait for cash bonus offers. Occasionally, CIT Bank offers a cash bonus for opening a new account. Typically, these will require a large deposit. You can save up somewhere else and then transfer when these offers become available.

  • Start saving with high rates anytime. You can open any account with no CIT Bank coupons needed, anytime you want. You just need $100 to open a savings account and $1,000 for CDs.

How long do CIT Bank coupons last? Sometimes, CIT may offer limited-time cash bonus for opening a new account. This will require a CIT Bank promo code. Typically, CIT Bank offers are available year-round with no expiration date or promo codes needed. You may apply for the accounts at any time and receive the latest rates.

Pros & Cons of Banking With CIT


  • Higher interest rates than traditional banks
  • No monthly service fees on any of CIT's accounts
  • Low opening deposits ($100 for checking & savings accounts and $1,000 for CDs)
  • Minimal banking fees
  • Remote check deposits


  • No physical locations
  • No check writing from the checking account
  • CD rates not as high as other online banks
  • May experience long wait times on the phone

What Bank Account to Open at CIT Bank

How do I use CIT Bank coupons? Typically, CIT Bank offers do not require promo codes. Just simply access the deal through our page and you will receive the latest rates. In cases of special limited-time promos, we will provide CIT Bank coupons. All applications are online only.

  • Money Market. CIT Bank money market account offers significantly higher APY rates than competitor online banks. The opening deposit is just $100 and there are no maintenance fees. The APY is even higher than that of the savings account and many CDs, and plus you get more account access flexibility. You don't need a coupon code to enjoy the high rate.

  • Savings. The APY for CIT high yield savings account is pretty solid too. You just need $100 to open the account. There are no maintenance fees.

  • No-Penalty CD. If you're not sure if you can commit to not touching your money for a specific term, CIT offers a no-penalty CD with an excellent rate. You get the flexibility to withdraw your balance and interest earned without being penalized. There is a minimum deposit of $1,000.

  • eChecking. CIT Bank's new checking account comes with a free MasterCard debit card, free online bill pay, and mobile check deposits. CIT charges no ATM fees, and will even reimburse other banks' ATM fees up to $15 per month.

How to save money at CIT Bank? CIT Bank offers several savings and CD accounts with high rates to help you grow your savings faster. You can get the CIT Bank coupons by applying for the accounts through one of our current promotions.

What Not to Open at CIT Bank

  • Term CDs over 2 years. Usually, CDs with longer terms have higher APY. However, CIT's longer term CDs (2 years and above) actually have lower APYs than their 18-month CD. If you're looking for a long-term CD, other banks can offer better rates.

Are Online Banks Safe?

Even though online banks don't have physical branches, they are FDIC insured just like a brick-and-mortar bank. CIT Bank is a member of the FDIC and follows all the rules and regulations as traditional banks. This means that if CIT Bank defaults, the federal government will pay back what you had, up to $250,000.

CIT uses bank-level security to protect all your information. It has anti-virus protection, firewalls, 128-bit Secure Socket Layer encryption, and multi authentication procedures.

CIT Bank Fees

CIT Bank waives many common banking fees. All CIT's accounts have:

  • 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

Some fees you may encounter are:

  • $10 outgoing wire transfer ($0 for accounts $25,000+)
  • $10 excessive transaction (for Money Market Account)
  • $30 bill pay stop payment
  • $30 overdraft fee
  • $10 debit card replacement (1 free card per year)
  • 1% of transaction amount for international ATM withdrawals

CIT Bank Location

CIT is an online-only bank with no physical branches. There is only one physical location at their headquarters in Pasadena:

75 North Fair Oaks Ave
Pasadena, CA 91103

However, this is only their headquarters' office. It's not a place where you can walk in, open accounts, or do banking business.

Is CIT Bank the same as OneWest bank?
CIT Group acquired OneWest Bank in 2015, which is a regional bank based in Southern California with over 60 branches. However, CIT Bank is online only and separate from OneWest Bank. You cannot perform any CIT banking operations at OneWest locations.


    Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.
    Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.
    eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000
    Money Market
    1.85% APY. $100 minimum deposit. No monthly maintenance fee.
    Customer Service
    Monday - Friday: 8:00 am - 9:00 pm (ET)
    Saturday: 9:00 am - 5:00 pm (ET)
    Sunday: 11:00 am - 4:00 pm (ET)
    Online Only

    More Information

  • Pricing information from published website as of 10/1/2019
  • For the complete terms and conditions, view the merchant's website. While reasonable effort has been made to maintain accurate and updated information, the information shown on this site may vary, be out of date, or not applicable to you. All information is provided without warranty. Please review the terms and conditions on the merchant's website.
 CIT BankAlly Bank
 Visit SiteLearn More

CIT Bank

Ally Bank


Benefits and Features

SavingsSavings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.1.70% APY. No monthly service fee and no minimum deposit.
CDTerm CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.0.75% to 2.15% APY. Terms of 3 months to 5 years. 12-month CD APY of 2.00%. No minimum deposit to open.
CheckingeChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,0000.10% APY under $15,000; 0.50% APY $15,000 or more. No monthly service fee and no minimum deposit. Ally will refund ATM fees for other banks up to $10 per statement cycle.
Money Market1.85% APY. $100 minimum deposit. No monthly maintenance fee.0.75% APY. No monthly service fee and no minimum deposit.
Customer ServiceMonday - Friday: 8:00 am - 9:00 pm (ET)
Saturday: 9:00 am - 5:00 pm (ET)
Sunday: 11:00 am - 4:00 pm (ET)
ATMs Over 43,000 no-fee Allpoint ATMs
Online Only
Online Only
 Visit SiteLearn More

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

CIT Bank: Pricing information from published website as of 10/1/2019

Ally Bank: Pricing information from published website as of 12/07/2019.

CIT Bank Alternatives

    Discover Bank

    Online Savings Account - Earn 1.70% APY

    • No fees
    • No minimum opening deposit
    • No minimum balance required

    Chase Sapphire‚Ą† Checking

    • Enjoy a $1,000 welcome bonus when you join Sapphire‚Ą† Banking. Within 45 days, transfer a total of $75,000 or more in qualifying new money or securities to a combination of eligible personal checking, savings and/or investment accounts, (excludes any J.P. Morgan retirement accounts and CDs) and maintain that balance for 90 days.
    • Enjoy a new kind of banking experience
    • No ATM fees worldwide - down the street or around the globe
    • Perks that add up - relationship rates, special access and help when you need it
    • Open online in minutes
    • Email my upgrade code
    • Available in: AZ, CA, CO, CT, DC, DE, FL, GA, IA, ID, IL, IN, KY, LA, MA, MD, MI, MS, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, TN, TX, UT, VA, WA, WI, WV
    Axos Bank

    Rewards Checking

    • Up to 1.25% APY
    • No minimum balance requirements
    • No fees to open or maintain account
    • Overdraft Protection
    • Daily Compounding Interest
    • FDIC insured
    UFB Direct

    UFB High Yield Savings - Earn up to 2.00% APY

    • Earn 2.00% APY on balances of $10,000 and above
    • Member FDIC

    Open Spend and Save Account - Earn up to 1.00% APY

    • Cash back on all debit card purchases
    • Up to 1.00% APY on savings
    • No ATM fees

Articles on CIT Bank

    CIT Bank Review

    December 16, 2017 - Reviews for CIT Bank
    Want a higher interest rate at a good FDIC insured bank? CIT is tempting, but there are downsides you should not ignore. Read this review before you open an account.

    CIT Bank Login

    October 5, 2019 - Money Tips for CIT Bank
    Forgot your CIT Bank username? We'll show you how to login your online bank account.

    CIT Bank Complaints

    September 29, 2019 - Money Tips for CIT Bank
    CIT Bank offers a high APY. But there are some downsides, too. Read on to learn more about CIT Bank common complaints and possible solutions.

    CIT Bank CD Rates

    September 4, 2019 - Money Tips for CIT Bank
    CIT Bank is known for competitive interest rates on online savings products. How are their CD rates? Check out the current rates and how they compare below.

    CIT Bank Savings Builder Review

    September 3, 2019 - Money Tips for CIT Bank
    If you can save just $100 per month, you can earn a high APY with CIT Bank's Savings Builder. Find out if this bank is good for you.

    CIT Bank Routing Number

    August 4, 2019 - Money Tips for CIT Bank
    Want to transfer money in or out of your CIT Bank account? Read this review to find your ABA routing number.

    CIT Bank Locations

    July 27, 2019 - Money Tips for CIT Bank
    CIT Bank is an online only bank with no physical branches. Find out how to manage your account, reach customer service, and the bank's current offers.

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CreditDonkey is a bank comparison website. We publish data-driven analysis to help you save money & make savvy decisions.

Editorial Note: Any opinions, analyses, reviews or recommendations expressed on this page are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by any card issuer.

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*See the card issuer's online application for details about terms and conditions. Reasonable efforts are made to maintain accurate information. However, all information is presented without warranty. When you click on the "Apply Now" button you can review the terms and conditions on the card issuer's website.

CreditDonkey does not know your individual circumstances and provides information for general educational purposes only. CreditDonkey is not a substitute for, and should not be used as, professional legal, credit or financial advice. You should consult your own professional advisors for such advice.