Last Updated: 08/22/2025
SuperMoney User Recommendation Score +75
Strongly recommended8 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
1.55%(Verified 06/21/2024)
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Minimum Balance to Earn APY
$0
Minimum Opening Deposit
Starting at $100
Number of Reviews
CIT Bank Money Market Account Review
CIT Bank Money Market Account is offered by CIT Bank, a bank founded in 1908 and based in Raleigh, NC. CIT Bank money market are available in 50 states and Washington, DC.
Key Takeaways
- Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.55%, 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.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- Small minimum initial deposit. You only need $100 to open an account.
Pros & Cons of CIT Bank Money Market Account
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CIT Bank Money Market Account FAQ
Are money market accounts from CIT Bank federally insured?
Yes, your deposits are insured by the Federal Deposit Insurance Corporation (FDIC). 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?
| Rates | Amount |
| APY | 1.55% |
CIT Bank money market offers an APY of up to 1.55% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a balance of $0. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.
What are the fees for CIT Bank Money Market Account?
CIT Bank Money Market Account does not charge a monthly maintenance fee.
| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Monthly Service Fee | $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Paper Statement Fee | Starting at $0 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 account 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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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