Have you been exploring bank account options and found that you would like to open a CIT Bank Account, but don’t know how? Well, we are here to help you out by listing the things you will need and describing different account options.

CIT Bank is highly known for its competitive APY rates. They offer savings and checking accounts, as well as many types of certificates of deposit.

Read on to learn how you can open a CIT Bank account.

Table of Contents

How to Open a CIT Account?

If you would like to open an account online, you will need your:

Driver’s License or state ID
Social Security Number
Contact Information (name, home address, email address, phone number)
Money for opening deposit ($100 for checking/savings accounts. $1,000 for CDs)

Before you fill out an application, you must know what type of account you would like to open.

Additionally, when you are opening your account, you must make a required initial monetary deposit. The minimum opening deposit for checking and savings accounts is $100, while CDs are $1,000.

Next, we will go over the different types of accounts in detail.

Types of Accounts

The great thing about CIT Bank is that none of their accounts charge monthly fees. They have two types of savings accounts, one type of money market account, and one type of checking account.

Savings Accounts

For your CIT Bank savings account, an external account will need to linked. You can deposit money via an electronic fund transfer, wire, mobile check deposit, or physical check.

CIT Savings Builder Account

CIT Bank Money Market Account

$100 minimum opening deposit
No monthly maintenance fee
FDIC insured
Allows 6 free transactions per month

Checking Account

CIT Bank eChecking

Earn 0.25% APY with $25,000 minimum balance
Earn 0.10% APY on balances under $25,000
$100 minimum opening deposit
Debit card
Monthly ATM fee reimbursement (up to $15 per statement cycle)
FDIC insusred

If you would like to get a high APY, you must deposit and maintain a balance of at least $25,000 in the account. If you have any amount below that, you will earn the lower APY.

CIT Bank is online only, but you can still withdraw and deposit cash into the account, with reimbursements up to $15 worth of other bank’s ATM fees per month of each checking customer.

CIT Bank CDs

CIT Bank has three types of CDs that it offers to their new customers. They have the regular Term CDs and the no-Penalty CDs, which require a minimum of $1,000, and the Jumbo CDs, which require a deposit of at least $100,000.

CIT Bank Term CDs

$1,000 minimum opening deposit
No monthly maintenance fee
FDIC insured
Daily compounding interest

CIT Bank No Penalty CD

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

CIT Bank Jumbo CDs

$100,000 minimum opening deposit
No monthly maintenance fee
FDIC insured
Daily compounding interest

Bottom Line

Opening a CIT Bank account is quick and easy with basic information and an initial deposit. All of these accounts do not charge a monthly fee and most offer comparatively high APY rates, if you do not mind online banking.

Learn more about CIT Bank and keep up with the latest promotions from CIT Bank.

Try it out and see how you like it! For more information on banking, check out all of our bank guides.