Cit Bank, A Division Of First-citizens Bank And Trust
Online Savings Account - 4.55% APY
• Earn 7x the national average
• Quick and easy access to funds
• No monthly service fees
• 24/7 secure & award-winning banking
• A limit of six transactions per statement cycle
• Deposit checks remotely and make transfers with the CIT Bank mobile app
• Interest earned on entire daily balance. Compounded daily; paid monthly
• Excessive Transaction Fee : $10 per transaction; assessed from the first violation. $50 monthly cap.
Fee and Feature Guide
|
Savings Account |
| Interest Rate |
|
| APY |
4.55% |
| Minimum deposit amount |
$5,000.00 |
| Maximum deposit amount |
N/A |
| Balance Requirements |
|
| Minimum Opening Deposit |
$100.00
|
| Minimum Balance to Avoid Fees |
$0.00 |
| Minimum Required Balance |
$0.00 |
| Minimum To Earn |
$0.00 |
| Fees |
|
| Monthly Maintenance Fee |
N/A |
| Foreign ATM Fees |
N/A |
| Insufficient Funds Fee |
$25.00 |
| Incoming Wires |
N/A
|
| Statements |
|
| Paper Statements |
× |
| Online Statements |
Yes |
| Online and Telephone Banking |
|
| Online Banking |
Yes |
| Telephone Banking |
Yes |
| Mobile Banking |
Yes |
| Deposit Checks with Mobile Device |
Yes |
| Free Bill Pay |
Yes |
| Online Bill Payments Required |
Yes |
| Account Opening |
|
| Open Online |
Yes |
| Insured by |
F.D.I.C.
|
Pros
- Consistently competitive rates.
- Competent friendly customer service.
Cons
- Customers have been experiencing long wait times to reach customer service.
- Some functionality has been removed from the website and it is no longer possible to close a No Penalty CD online.
Recent Rate Changes
|
Date
|
APY
|
|
November 13, 2024 |
4.55%
|
|
September 25, 2024 |
4.70%
|
|
September 10, 2024 |
4.85%
|
|
August 5, 2024 |
5.00%
|
Customer Reviews for CIT Bank, a division of First-Citizens Bank and Trust (35)
RTN1949
June 2, 2022 | | Replies 2
I've been a customer since CIT emerged from the financial crisis as a real competitor in this space (14 years or so). Zero complaints about anything over this time ... until today. Now they are offering a higher rate 0.90% for new customers than for someone like me who has been loyal. The higher 20 basis points is $1,000 a year on my account of $250,000 that they prefer to give to someone who will be there for a couple months instead of to me who would (would have) stayed another 14 years. What gives?
Is this review helpful? Yes:5 / No: 1
CIT Bank | Jun 6, 2022
Hi RTN1949, we consider a number of marketplace factors when setting or changing the interest rates on our CDs, Savings and Money Market accounts. You can earn a higher rate offered on Savings Connect by opening an account online in 10 minutes or less and transferring the funds from your current account to the new Savings Connect account. Thank you.
| Jul 28, 2022
I agree, I am earning far less now, so I am pulling out and going to another bank with far better interest!!!!!!
BeccaB-88
July 21, 2020 |
Opened account a month ago. I've already seen the rate fall a couple of times, but have no other complaints. Easy process and a clear easy to use site (unlike Ally where I was before).
Is this review helpful? Yes:6 / No: 0
Savvysaver
June 25, 2020 |
Don't get your hopes up. That 1.25% APY is old news. CIT is posting 1.00%
Is this review helpful? Yes:4 / No: 0
Savvysaver
April 28, 2020 |
I agree with JN Howard, CIT's rates have fallen into a lower tier. Their website is clunky and slow as well. I did manage to open a few Cds when they were more competitive. At one point earlier this year they offered the best rate I could find with a $1000 minimum deposit.
Is this review helpful? Yes:4 / No: 0
Stewart S
April 14, 2020 |
They defacto refused to remit funds for an ACH transfer forcing me to use other funds if I wanted that new account.
Is this review helpful? Yes:5 / No: 0
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