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CIT Bank CD Summary
CIT Bank is an online bank that allows you to access banking services securely and conveniently, without leaving home. CIT Bank’s streamlined service model allows it to offer higher interest rates on savings accounts and lower service fees than many of its competitors. CIT Bank is a subsidiary operated by CIT Group, Inc., a financial holding company with over a century of experience.
CIT Bank CD Pros & Cons
Pros
Higher interest rates on savings accounts
Low or no fees
Operated by CIT Group, Inc., in business for over 100 years
Cons
Customer service by telephone not available 24/7
No personal loans or credit cards offered
Paper checks are not included or permitted to make payments
CIT Bank CD at a glance
9.6
Editorial scoreRates
Higher than average APY offering with moderate minimum deposit of $1,000
9.0
Fees & Requirements
Publishes early withdrawal penalty fees, 8 different term lengths, offers specialty/no-penalty CDs
10.0
Security
FDIC insured (directly), SSL/AES encryption and supports 2 factor authentication
10.0
Customer Service
24/7 service with multiple communication options, FAQ/help page on website, dedicated fraud team
10.0
Customer Experience
Solid mobile app with 4.5/4.8 out of 5 on Google Play and the App store; allows joint CDs; does not have branch locations
9.0
Advantages Over Regular Banks
You can save time and money by banking wherever you are. You can make deposits, pay bills, and monitor your account more closely, without ever driving to a branch office or standing in line. These conveniences make CIT Bank one of the best online banking companies for those who prefer to manage their finances digitally.
The bank saves money, too, by not maintaining brick-and-mortar branch offices. It can pass savings on to you in the form of fewer fees and higher interest on your savings.
If you still need to get cash from an ATM, don’t worry. When you use an ATM from another bank, the fees are deducted from your account. However, at the end of every statement period, CIT Bank reimburses your account for up to $30 for ATM fees.
Cutting-Edge Banking Services
CIT Bank offers the latest online and mobile banking services, including:
- 24-hour access to your account for better financial control
- Easy money transfers between accounts
- Online bill pay
- Customer support by email, chat, or telephone
- Integration with Apple Pay® or Samsung Pay™ using your eChecking debit card
- Debit card controls, including the ability to turn your card off and on, establish limits, and set alerts
- Text banking for checking your account balances and transaction history
- Online calculators to help you manage your money, such as the Savings Calculator
- Sending and receiving money from trusted friends and family with Zelle®
Traditional Banking Services
In addition to offering mobile and online banking, CIT Bank provides traditional banking services, including:
- Mortgage loans
- Wire transfers
- Retirement accounts, including Roth and Traditional IRAs and Coverdell Education IRAs
Interest Rates and Fees
Choose the type of checking or savings account that best meets your needs.
| Account | APY | Min. Balance |
|---|---|---|
| Savings Connect | 3.65% | Opening: $100 |
| Money MarketMoney Market | 1.55% | Opening: $100 |
| eChecking | 0.10% | Opening: $100 On balances under $25,000 |
| eChecking | 0.25% | Opening: $100 $25,000 min. balance |
| 6-Month CD | 3.75% | Opening: $1,000 |
| 13-Month CD | 3.25% | Opening: $1,000 |
| 18-month CD | 2.85% | Opening: $1,000 |
All interest rates are subject to change. See the CIT Bank website for details.
Customer Service
You can use online and mobile banking 24 hours a day, 7 days a week. You can also check your account balance by telephone anytime, day or night.
For questions about a new or existing account, customer service is available Monday through Friday, 9:00 a.m. to 9:00 p.m. (ET), or Saturday 10:00 a.m. to 6:00 p.m. (ET).
Call: 855-462-2652 (U.S. calls)
626-535-8964 (Outside U.S. - toll call)
Fax: 866-914-1578
Mail forms to:
CIT Bank, N.A.
P.O. Box 7056
Pasadena, CA 91109-9699
Mobile Apps
For convenient access to your CIT bank accounts, download the mobile app on Google Play or the App Store. Follow the set-up process and enroll your device.
After you set up your account on your mobile device, you can manage your money anytime, anywhere. You can take a picture of a check to deposit it in your account, transfer money between CIT Bank accounts and accounts at other institutions, check your balances and history, and see statements.
If you have eChecking and the mobile app, you can also use Bill Pay, send or receive money from friends using Zelle®, or make payments online or in stores using Apple Pay® or Samsung Pay™.
Security
According to CIT, it works to protect your privacy by using physical, electronic, and procedural safeguards. CIT does not use email or texts to request your personal information, and any personal information that you request to be sent to you by email is encrypted.
In term of security, they use measures to keep your accounts and information safe, including:
- Monitoring transactions and activities
- Antivirus protection of their computer system
- Firewalls to prevent unauthorized access to their systems
- 128-bit Secure Socket Layer encryption to prevent interception of your information
- Automatic sign-out from your account after a period of inactivity
Conclusion
CIT Bank, a trusted name in banking for over 100 years, offers user-friendly online and mobile banking services to make your life easier and to help you save money. You can earn competitive interest rates on savings and retirement accounts, do daily banking tasks, and keep a close eye on spending and other transactions, all without traveling to the brick and mortar branch of a bank.
Disclaimers
For complete list of account details and fees, see our Personal Account disclosures.
APY — Annual Percentage Yield is accurate as of July 1, 2026. $1,000 minimum deposit is required to open the account. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings.
APY — Annual Percentage Yield is accurate as of July 1, 2026. $1,000 minimum deposit is required to open the account. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings. Upon maturity, the 13-Month CD will be automatically renewed as a 1-Year Term CD at the then-published APY.
APY — Annual Percentage Yield is accurate as of July 1, 2026. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.
Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of February 17, 2026.
Annual Percentage Yields (APYs) for all Term CDs are accurate as of July 1, 2026. A penalty may be imposed for early withdrawal of principal, and any early withdrawal (principal or interest) will reduce earnings.
Written byBestmoney Staff
The BestMoney editorial team is composed of writers and experts covering a full range of financial services. Our mission is to simplify the process of selecting the right provider for every need, leveraging our extensive industry knowledge to deliver clear, reliable advice.