CIT Bank Money Market Account Review
CIT Bank is based in Salt Lake City, UT. It was founded in 2000 and offers its money market accounts in 50 states (and Washington, DC).
If you're considering a money market account and want to know whether CIT Bank Money Market Account is right for you, read on.
Is CIT Bank Money Market Account insured by the FDIC?
FDIC insured. CIT Bank Money Market Account is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC insures deposits in money market accounts up to $250,000 per depositor if a member institution fails.
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.CIT Bank will charge you a $10 fee if you exceed your maximum number of monthly transactions.
Federal regulations limit the number of transactions you can make from your money market account to six per month.
|Paper Statement Fee||$0|
|Excess Transaction Fee||$10|
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.
- Washington, DC
- New Hampshire
- New Jersey
- New Mexico
- New York
- North Carolina
- North Dakota
- Rhode Island
- South Carolina
- South Dakota
- West Virginia