CIT Bank Review 2026: Checking, Savings, CDs
- +2
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
CIT Bank is the online division of First Citizens Bank. CIT offers a checking account that pays interest, certificates of deposit and high-yield savings options. You won’t pay monthly maintenance fees with CIT, and some of its interest rates are competitive. There’s no free ATM network, though, which is unusual among online banks with checking accounts.
No overdraft fees.
No monthly fees.
Competitive rates on some savings accounts.
ATM fee rebates.
High minimum opening deposits for checking accounts.
Low rates on some CDs.
No cash deposit.
Product reviews
Savings
CIT Bank’s Platinum Savings account offers a super competitive annual percentage yield of 3.75% for balances of at least $5,000 — that’s a much higher APY than the national average. You can open an account with a deposit of $100 and there’s no monthly fee, but balances under $5,000 earn only 0.25% APY.
If you want to earn a high rate without having to keep a large balance, consider CIT’s Savings Connect account, which offers a high APY with no minimum balance required to earn it.
Savings
CIT Bank's Savings Connect account, which we did not factor into the bank’s overall rating, is a highly competitive option. There are no minimum balance requirements to earn its 3.65% APY, but it does require a minimum deposit of $100 to open.
Checking
CIT's eChecking account pays 0.10% APY on balances under $25,000 and 0.25% APY for balances of at least $25,000. Other online checking accounts pay more, but they often require spending and deposit qualifications to earn the high rate.
CIT doesn’t have its own free ATM network, but it offers $30 per month in reimbursements of outside ATM fees and doesn’t charge any ATM fees itself. Many other online banks partner with networks that offer tens of thousands of free ATMs nationwide.
There's no monthly fee on CIT's eChecking. Other banks require you to keep a certain minimum balance or complete qualifying activities to avoid monthly surcharges. However, CIT does require $100 to open eChecking. Many of its competitors let you open a checking account without a minimum deposit requirement.
CIT Bank eChecking
Certificates of deposit
While CIT offers decent rates for its six-, 13- and 18-month terms, its standard CD rates are low. There's a $1,000 minimum deposit requirement to open a CIT CD. That amount can be typical for national banks, but some online banks and credit unions have lower minimums.
The bank also offers an 11-month CD that doesn't charge an early withdrawal penalty. In all, CIT Bank’s Term CDs range from six months to five years.
Full List of CD Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 3.75% | $1,000 |
| 11 months no-penalty | 3.75% | $1,000 |
| 1 year | 0.30% | $1,000 |
| 13 months | 3.25% | $1,000 |
| 1.5 years | 2.75% | $1,000 |
| 2 years | 0.40% | $100,000 |
| 2 years | 0.40% | $1,000 |
| 3 years | 0.40% | $100,000 |
| 3 years | 0.40% | $1,000 |
| 4 years | 0.50% | $100,000 |
| 4 years | 0.50% | $1,000 |
| 5 years | 0.50% | $1,000 |
| 5 years | 0.50% | $100,000 |
CIT Bank CD
Customer experience & overdraft fees
Customer experience
CIT Bank has an easy-to-navigate website that clearly shows rates, contact information and instructions on how to open an account. The customer service center is reachable by phone from 9 a.m. to 9 p.m. ET on weekdays, along with shorter Saturday hours. In addition, CIT's banking apps earn high ratings from both Android and iOS users.
As an online bank, there are no branches to visit, so there’s no way to do your banking in person. CIT Bank has an X (Twitter) account, which offers some customer support. But there’s no live chat on the site or apps.
CIT customers can’t deposit cash. Instead, you can fund and withdraw money from accounts by electronic transfer with another bank account, wire or mail. ATMs are another option for withdrawals, and mobile check deposit is available, too.
Web experience
StrongMobile apps
Highly ratedPhone support
Monday through Friday, 9 a.m. to 9 p.m. ET; Saturday, 10 a.m. to 6 p.m. ETBranches
Online onlyOverdraft fees
CIT Bank has joined the ranks of other financial institutions that no longer charge overdraft fees. If you overspend with a CIT eChecking account, you can easily transfer money from your CIT savings account to cover the shortfall — at no charge.
For customers who haven’t opted in to overdraft protection, transactions that would overdraw their account will generally be declined, but an overdraft fee won’t be charged.
» COMPARE: NerdWallet's picks for best banks for overdrafts
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.