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)
Disclaimer popup with additional information
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
| Pros | Cons |
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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 #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?
| 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.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author's alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.
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
SuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +75, or 4.5 on a 5-point rating scale.
+75
-1000+100
No one recommends
Everyone recommends
CIT Bank Money Market Account Community Reviews
Would you recommend CIT Bank Money Market Account to your friends?
MO
Matthew O.
Feb 6, 2023
May or may not recommend
Like every other bank, CIT has fees to pay, but are the fees competitive? Yes
Do they have plenty of other benefits to offer? Yes. They have a great customer care structure, and they ensure to foster their relationship with every customer. I wouldn't have decided to go with CIT, but with their long-existing trustworthiness and awesome banking services, I could not have asked for more.
U
Anonymous
Oct 23, 2022
May or may not recommend
Low rate compared to others, have transfer amount restrictions, and will automatically lower interest rate based on market but don't automatically increase rate with market conditions.
Sydjanai
Jul 3, 2021
May or may not recommend
CIT Bank's money market account works simply and effectively for everyday needs. There are some fees, but they are not outrageously expensive or frequent. It is a reputable company with good customer service and streamlined for ease of use.
FO
Francisco O.
Apr 21, 2021
May or may not recommend
I am a staunch lover of online banking, and CIT Bank's money market account do absolutely fine by meeting my online banking needs. I don't need exorbitant fees transaction fees, and account maintenance and bank statements fees are absolutely free. The only reservation I have regarding this bank is lack of free credit facility card.
In all, it offers seamless and smart online banking activities.
U
Anonymous
Feb 27, 2021
May or may not recommend
My experience with Cit Bank has been fantastic I love the calculators that they provide, one is a savings calculator which gives you the tools to figure out how much you can save by entering initial amount,selecting how many years you want to save what the rate of return, extra contributions, compound interest from daily quarterly or annually, the other is a certificate of deposit shows you how much you ...Show More
CO
Chijioke O.
Jan 15, 2021
May or may not recommend
Citibank is a long-standing bank. It has always been trustworthy for me. The only downside is their fees, don't like being nickel and dimed just because I don't hold a lot of money in accounts; but then again, other banks are no better when it comes to this. Give to the rich - take from the poor.
AA
Aisha A.
Nov 12, 2020
May or may not recommend
CIT Bank has proven to be the best among the rest. I put a call through to them to know the steps involved in setting up an account with them. The customer support was really ready to help and out me through. I was invited over to there office. I got the necessary information. I submitted the necessary documents. They were able to setup the account for me in no ...Show More
U
Anonymous
Jul 28, 2019
May or may not recommend
It's awesome does the job easier and easy to understand thanks
Showing 8 of 8 reviews
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