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).

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 Rates and Terms

Rates	Amount
APY	0.50%

CIT Bank Money Market Account offers an APY of up to 0.50% (APY stands for annual percentage yield, rates may change).However, to earn interest you must keep a minimum balance of $0.

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.

CIT Bank will allow you to make up to 6 transactions per month. That is also the maximum set by federal regulations for money market accounts.

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 Account?

Minimum initial 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 Account offer?

This account includes the following features:

• Fraud monitoring - CIT Bank monitors transactions for potentially fraudulent activity.
• Mobile Banking Services - CIT Bank Money Market Account allows you to manage your money online.

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.