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CIT Bank CD Review

All types of high-yield savings accounts

Reviews 436
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Reviews 436
Sally Herigstad
Nov. 30, 2023
3 min read
Sally Herigstad
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.


  • Higher interest rates on savings accounts
  • Low or no fees
  • Operated by CIT Group, Inc., in business for over 100 years


  • 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

Editorial score


No fees at all


FDIC insured, SSL/AES encryption 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

CIT Bank CD CIT Bank CD Visit Site

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. 

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.

AccountAPYMin. Balance
Savings Connect5.00%

Opening: $100
$25,000 min. balance or $100 monthly deposit

Money Market1.55%Opening: $100
eChecking0.10%Opening: $100
On balances under $25,000
eChecking0.25%Opening: $100
$25,000 min. balance
6-Month CD5.00%Opening: $1,000
13-Month CD4.65%Opening: $1,000
18-month CD4.60%Opening: $1,000

All interest rates are subject to change. See the CIT Bank website for details. 

CIT Bank CD CIT Bank CD View Rates

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™.


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


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 CD CIT Bank CD Visit Site

Sally Herigstad
Written by
Sally Herigstad
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.‎
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