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.
PROMOTIONAL LINK | OFFER | REVIEW |
CIT Bank Platinum Savings | 5.05% APY | Review |
6-Month Term | 5.00% APY | Review |
CIT Bank No Penalty CD | 4.90% APY | Review |
CIT Bank Savings Connect | 4.65% APY | Review |
13-Month Term | 4.65% APY | Review |
18-Month Term | 4.60% APY | Review |
CIT Bank Money Market | 1.55% APY | Review |
CIT Bank Savings Builder | 1.00% APY | Review |
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
With the CIT Bank Savings Builders account: • Earn a top tier, competitive APY on your money—one of the top savings rates in the nation. Earn up to 1.00% APY on your funds - grow your savings faster. • Build a habit of savings. Pay yourself first. Start with $100 per month and build your habit of savings-—all while getting a top rate. • FDIC Insured |
CIT Bank Money Market Account
With the CIT Bank Money Market Account, you can earn a competitive interest rate and access your money easily. • Earn 1.55% APY on your funds • One of the nation's top rates — several times the national average. • Get up to 6 digital transfers/withdrawals per statement cycle • Save smart and get more for your money • Higher rates than traditional banks • Get 24/7 Account Access • Secure banking features • Open with as little as $100 • FDIC insured |
- $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
• Available online nationwide • Earn up to 5.00% APY • $1,000 minimum to open • Selection of terms to meet your needs • A range of choices. Low minimum deposits. • No fees to open or maintain the account • Available as Custodial • Open a CIT Bank Certificate of Deposit Account today! |
- $1,000 minimum opening deposit
- No monthly maintenance fee
- FDIC insured
- Daily compounding interest
CD Rates | |
---|---|
6-Month Term | 5.00% APY |
13-Month Term | 4.65% APY |
18-Month Term | 4.60% APY |
1-Year Term | 0.30% APY |
2-Year Term | 0.40% APY |
3-Year Term | 0.40% APY |
4-Year Term | 0.50% APY |
5-Year Term | 0.50% APY |
CIT Bank No Penalty CD
With the CIT Bank No-Penalty 11-Month CD: • Earn 4.90% APY on your funds with just a $1,000 minimum deposit. • The perfect balance between a great fixed rate and flexible money access. • Access funds, if needed. No penalty. • No opening or maintenance fees • Shorter 11-month timeframe and a great APY • If you need your funds prior to the maturity date, you can withdraw your money — including any interest earned — beginning seven days after the funds have been received. No penalty. No problem. It's the security of a CD with the flexibility to access your funds early if you need them. |
- 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.
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