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CIT Bank Money Market Account

in Money Market Accounts from CIT Bank · fdic

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CIT Bank Money Market Account

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in Money Market Accounts from CIT Bank · Member FDIC

SuperMoney Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

6 users recommend
0 users are unsure
0 users don't recommend
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Highlights
Community Rating Strongly recommended
APY (Annual Percentage Yield) 0.45%
APY Minimum Balance $0
Minimum Opening Deposit Starting at $100
Number of Reviews 6

CIT Bank Money Market Account Review

CIT Bank Money Market Account is offered by CIT Bank, a bank founded in 1908 and based in Salt Lake City, UT. CIT Bank Money Market Account is available in 50 states (and Washington, DC).

Key Takeaways
  • Very high APY. This account offers an annual percentage yield of up to 0.45%, which is much higher than the national average for a money market account.
  • No APY minimum balance. There is no minimum amount you have to deposit to start earning interest with this money market account.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • Small minimum initial deposit. You only need $100 to open an account.
Pros & Cons of CIT Bank Money Market Account
Pros Cons
  • Available in all 50 states.
  • High-interest yield.
  • Access to physical branches.
  • No charge on incoming domestic or international wire transfers.
  • Deposit checks remotely.
  • No signup bonus.
  • Does not provide a debit card.
CIT Bank Money Market Account FAQ

Are money market accounts from CIT Bank federally insured?

Yes, your CIT Bank money market accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #58978). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What are the interest rates for CIT Bank money market rates?

CIT Bank Money Market Account Rates and Terms
Rates Amount
APY 0.45%

CIT Bank money market offers an APY of up to 0.45% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $0.

What are the fees for CIT Bank Money Market Account?

CIT Bank Money Market Account does not charge a monthly maintenance fee.

CIT Bank will charge you a $10 fee if you exceed your maximum number of monthly transactions.

CIT Bank will allow you to make up to 6 withdrawals or transactionss per month. That is also the maximum set by federal regulations.
CIT Bank Money Market Account Fees
Fees Amount
Monthly Fee $0
Paper Statement Fee $0
Excess Transaction Fee $10

What is the minimum balance for CIT Bank money market?

Minimum deposit of $100. You must make an initial deposit of at least $100 to open this account.

What features and perks does CIT Bank money market offer?

This account includes the following features:

  • Fraud monitoring - CIT Bank monitors transactions for potentially fraudulent activity.
  • Mobile Banking Services - CIT Bank money market allows you to manage your money through online banking and a dedicated mobile app. This includes depositing checks in your account with your smartphone.

What is the customer service phone number?

The customer service number for this business card is (888) 899-0497.

What is the support contact email?

The support contact email for this business credit card is custserv@cit.com.

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.

How to open an account with CIT Bank

  • Visit the CIT Bank website.
  • Fill in the application form. You will typically need to provide general financial information, such as your name, Social Security Number and address.
  • Check the information is accurate and submit your application.
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Contact

Hours of Operation

  • Sunday Closed
  • Monday 7:00am - 7:00pm
  • Tuesday 7:00am - 7:00pm
  • Wednesday 7:00am - 7:00pm
  • Thursday 7:00am - 7:00pm
  • Friday 7:00am - 7:00pm
  • Saturday Closed

Other Services by CIT Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alabama
  • Alaska
  • Arizona
  • Arkansas
  • California
  • Colorado
  • Connecticut
  • Delaware
  • Washington, DC
  • Florida
  • Georgia
  • Hawaii
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Louisiana
  • Maine
  • Maryland
  • Massachusetts
  • Michigan
  • Minnesota
  • Mississippi
  • Missouri
  • Montana
  • Nebraska
  • Nevada
  • New Hampshire
  • New Jersey
  • New Mexico
  • New York
  • North Carolina
  • North Dakota
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Vermont
  • Virginia
  • Washington
  • West Virginia
  • Wisconsin
  • Wyoming

Feature Breakdown

APY Minimum Balance $0
Minimum Balance to Avoid Monthly Fee $0
Minimum Opening Deposit Starting at $100
Monthly Fee $0
Paper Statement Fee $0
Account Features
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Fraud Protection
  • Branch Access
  • Member FDIC
APY (Annual Percentage Yield) 0.45%

CIT Bank Money Market Account Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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