
CIT Bank summary
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
Editorial score
Fees?
No fees at all
Security
FDIC insured, SSL/AES encription and supports 2 factor and biometric authentication
Customer service
Customer service during extended business hours
Online experience
Functional site with most banking features available; no live chat
Mobile experience
Excellent mobile app with all mobile banking features enabled, including digital check deposits
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, donning a mask for COVID-19, or standing in line.
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 Builder | 0.40% | Opening: $100 |
Money Market | 0.50% | Opening: $100 |
eChecking | 0.10% | Opening: $100 On balances under $25,000 |
eChecking | 0.25% | Opening: $100 $25,000 min. balance |
1-Year CD | 0.30% | Opening: $1,000 |
4-Year CD | 0.50% | Opening: $1,000 |
No-Penalty 11-month CD | 0.30% | 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.
CIT Bank Disclosures
*CIT Bank's eChecking account offers 0.25% APY with $25,000 minimum balance
0.10% APY on balances under $25,000
The Annual Percentage Yields (APY) and interest rates are effective as of February 23, 2021. Fees may reduce earnings. Checking APYs and interest rates are variable and may change at any time without prior notice, including after account opening. The minimum opening deposit for eChecking is $100. See Fee Schedule and Agreement for Personal Accounts for details.
To obtain the interest rate and APY disclosed, the minimum balance for the applicable balance tier must be maintained.

Sally has been writing about personal finance since 1998 and is the author of “Help! I Can’t Pay My Bills” (St. Martin’s Griffin). She is a licensed real estate broker in Washington state and a retired certified public accountant. She writes for BestMoney and enjoys helping readers make sense of the options on the market.