| Rankings |
|---|
| Bank Reviews |
|---|
| Tips |
|---|
| Promotions |
|---|
| Resources |
|---|
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.
- 1.85% APY
- $100 Minimum Opening Deposit
- No monthly maintenance fee
- FDIC Insured
- 1.80% APY
- Option to Withdraw Full Balance and Interest After 7 Days of CD Funding Date
- $1,000 Minimum Opening Deposit
- 11 Months
- No monthly maintenance fee
- FDIC insured
- Daily Compounding Interest
- $100,000 Minimum Opening Deposit
- Up to 1.75% APY
- Up to 5 years
- No monthly maintenance fee
- FDIC insured
- Daily Compounding Interest
$150
$150/$300 Cash Bonus for New Account
New Customers: Open a Savings Builder account with a minimum of $100 and enter promo code Bonus19.
Fund your new account within 15 calendar days. Deposit $25,000 to $49,999 for $150 bonus or $50,000+ for $300 bonus. Maintain the minimum balance requirement for the desired bonus for 90 calendar days.
$150
$150/$300 Cash Bonus for Existing Customers
Enroll in the promotion. Add funds within 15 calendar days with new money. Deposit $25,000 to $49,999 for $150 bonus or $50,000+ for $300 bonus. Maintain the minimum balance requirement for the desired bonus for 30 calendar days.
$150
CIT Bank Savings Builder - $150 Bonus
Deposit $25,000 - $49,999 within 15 calendar days. Conditions Apply.
$300
CIT Bank Savings Builder - $300 Bonus
Deposit $50,000 or more within 15 calendar days. Conditions Apply.
1.85%
Money Market Account - 1.85% APY
No-Penalty CD
Jumbo CDs
Compare Promotions
- No fees
- No minimum opening deposit
- No minimum balance required
Online Savings Account - Earn 1.70% APY
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 bank accounts.
How to Get the Best Promo and Deals 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. They want your business. 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 coupon codes. 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
PROS:
- Higher interest rates than traditional banks
- No monthly service fees on any of CIT's accounts
- Low opening deposits ($100 for checking & savings account and $1,000 for CDs)
- Minimal banking fees
- Remote check deposits
CONS:
- 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 popular 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.
Related: Best Online Savings Account
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 a popular 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 business 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.
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.
Highlights
Savings
Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.
Savings Builder up to 1.85% APY with $25,000 minimum balance or $100 monthly deposit. $100 minimum opening deposit.
Compare: CIT Bank vs Discover Bank
CD
Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.
Term CDs up to 1.85% APY. $1,000 minimum opening deposit. No monthly maintenance fee.
Checking
eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000
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.
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)
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)
Locations
Online Only
Online Only
Compare: CIT Bank vs Chase
- 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.
More Information
| ||
 |  | |
CIT Bank | Ally Bank | |
|---|---|---|
Benefits and Features | ||
| Savings | Savings 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. |
| CD | Term 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. |
| Checking | eChecking: 0.25% APY with $25,000 minimum balance and 0.10% APY on balances under $25,000 | 0.10% 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 Market | 1.85% APY. $100 minimum deposit. No monthly maintenance fee. | 0.75% APY. No monthly service fee and no minimum deposit. |
| 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) | |
| ATMs | Over 43,000 no-fee Allpoint ATMs | |
| Locations | ||
| | |
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 12/14/2019. | ||
CIT Bank Alternatives
- No fees
- No minimum opening deposit
- No minimum balance required
- Enjoy a $1,000 welcome bonus when you join Sapphire℠ 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
- Up to 1.25% APY
- No minimum balance requirements
- No fees to open or maintain account
- Overdraft Protection
- Daily Compounding Interest
- FDIC insured
- Earn 2.00% APY on balances of $10,000 and above
- Member FDIC
- Cash back on all debit card purchases
- Up to 1.00% APY on savings
- No ATM fees
Online Savings Account - Earn 1.70% APY
Chase Sapphire℠ Checking
Rewards Checking
UFB High Yield Savings - Earn up to 2.00% APY
Open Spend and Save Account - Earn up to 1.00% APY
Articles on CIT Bank
CIT Bank Review
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
Forgot your CIT Bank username? We'll show you how to login your online bank account.
CIT Bank Complaints
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
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
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
Want to transfer money in or out of your CIT Bank account? Read this review to find your ABA routing number.
CIT Bank Locations
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.
Recent Mentions
Best High Yield Savings Accounts
Make your money work harder for you in a high-yield savings account. Here are the top savings accounts to grow your money.
Best Money Market Rates
Good money market accounts offer high interest rates with more flexibility. Here are the top money market accounts to earn the most interest.
Best Online Bank
Online banks are convenient, pay higher interest rates, and have less fees. Read on for our list of the best online banks for your money.
The Best Way to Invest $100
$100 may not seem like much, but you can make it grow into more. Here are 10 clever ways to turn that $100 into a better future.
Best Short Term Investment Options
The best short term investment options provide good returns with low risk. Here are the top 10 strategies for your short term goals.
Passive Income: Practical Ideas to Build Wealth
The best passive income ideas help you build real wealth and achieve financial freedom. Here are 25+ opportunities and examples for beginners.
Best Ways to Invest $10,000
Have $10,000 to invest? Here are 14 smart investments ideas that will turn that $10k into even bigger money.
Top 5 Best CD Rates
CD accounts are fully secured and risk-free. Plus, they offer higher interest rates than traditional savings accounts. Read on for our list of the best high interest CDs to help you start saving.
Top 10 Best Online Savings Account
The best online savings accounts pay a good interest rate, are fully secured, and allow for flexibility. Find the best high interest savings accounts to consider.
Add Your Comment
More Bank Promotions
Citibank Promotion
Citi Priority Package - $700 Bonus
Discover Bank Bonus
Online Savings Account - Earn 1.70% APY
Next Page: CIT Bank
| Build Wealth |
|---|
| People Who Viewed CIT Bank Also Viewed | |
|---|---|
|
| Bank | |
|---|---|
| Investing | |
|---|---|
