CIT Bank Money Market Account Review

CIT Bank Money Market Account is offered by CIT Bank, a bank founded in 2000 and based in Salt Lake City, UT. CIT Bank Money Market Account is offered in 50 states (and Washington, DC).

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 CIT Bank Money Market Account rates?

CIT Bank Money Market Account offers an APY of up to 1.85% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a minimum balance of $0. This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What are the CIT Bank Money Market Account fees?

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

Federal regulations limit the number of transactions you can make from your money market account to six per month.

What is the minimum balance for CIT Bank Money Market Account?

No minimum initial deposit. CIT Bank does not require a minimum initial deposit to open an account.

What features and perks does CIT Bank Money Market Account offer?

This account does not seem to offer any of the features and perks we track.

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.