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CIT Bank Savings Builder

in Savings Accounts from CIT Bank · Member fdic

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CIT Bank Savings Builder

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in Savings Accounts from CIT Bank · Member FDIC

SuperMoney Net Recommendation Score +100

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

16 users recommend
0 users are unsure
0 users don't recommend
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Highlights
Community Rating Strongly recommended
Monthly Fee $0
APY (Annual Percentage Yield) 0.29% - 0.45%
APY Minimum Balance $0.01
Number of Reviews 16

CIT Bank Savings Builder Review

CIT Bank Savings Builder is offered by CIT Bank, a bank founded in 1908 and based in Salt Lake City, UT. CIT Bank Savings Builder is available in 50 states (and Washington, DC).

Key Takeaways
  • Higher than average APY. CIT Bank Savings Builder has an annual percentage yield of up to 0.45%, which is higher than the national average interest rate on savings accounts. Note that you must keep a minimum balance of $0.01.
  • $0 monthly fee. This account does not charge a monthly Service Charge.
  • $100 minimum deposit. This is a typical minimum initial deposit, but there are accounts that require a smaller initial deposit or have no minimum.
  • No ATM fees. CIT Bank Savings Builder does not charge fees on ATM transactions.
  • ATM fee reimbursements. This account will reimburse you for ATM fees (see terms and conditions for details).
  • Bill pay. Pay your bills to practically anyone in the United States through CIT Bank.
CIT Bank savings Pros & Cons
Pros Cons
  • Available in all 50 states.
  • Interest-yielding account.
  • Access to physical branches.
  • Free debit card and the option to lock/unlock the card if lost or stolen
  • No charge on incoming domestic or international wire transfers.
  • No signup bonus.
  • No ATM access to savings.
CIT Bank savings FAQ

Are savings accounts from CIT Bank federally insured?

Yes, your CIT Bank savings 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.

Does CIT Bank offer a signup bonus?

CIT Bank savings doesn't offer a signup bonus.

What is the minimum initial deposit for CIT Bank savings?

The minimum deposit to open a CIT Bank savings is $100.
CIT Bank Savings Builder Minimums
Description
APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $100

What APY does CIT Bank offer?

CIT Bank savings offers an APY starting at 0.29% and ranging up to 0.45% (APY stands for annual percentage yield, rates may change).

What fees does CIT Bank savings charge?

CIT Bank savings does not charge a monthly service fee. See the fee breakdown section below to view all fees.

  • Outgoing domestic bank transfers come with a $10 fee.
  • Outgoing international bank transfers come with a $10 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.

What features and perks does CIT Bank savings offer?

This savings account includes the following features:

  • ATM reimbursement - This account provides ATM access and will reimburse you for the ATM fees charged by other networks.
  • Fraud monitoring - CIT Bank savings monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
  • Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
  • Mobile Banking Services - CIT Bank savings allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.

Can you set up a direct deposit to CIT Bank savings?

In most cases, the answer is yes. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.

What is the customer support email for CIT Bank savings?

The customer support email for CIT Bank savings is contact@cit.com.

How do people rate the customer service and user experience of CIT Bank savings?

Overall, CIT Bank savings is strongly recommended based on community reviews that rate customer service and user experience.

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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.

Contact

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

Icon for Savings Accounts
View all savings accounts offered by CIT Bank

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

APY Minimum Balance $0.01
Minimum Opening Deposit Starting at $100
Early Account Closure $0
Monthly Fee $0
Paper Statement Fee $0
Returned Deposit Fee (Domestic) $0
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - International (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $10
Wire Transfer Fee - International (Outgoing) $10
Bauer Financial A+/A Rating
Bank Account Features
  • No ATM Fees
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • ATM Reimbursement
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Automatic Transfers
  • Bauer Financial A+/A Rating
  • Branch Access
  • FDIC Member
Signup Deposit Requirement $50,000
APY (Annual Percentage Yield) 0.29% - 0.45%

CIT Bank Savings Builder Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +100, equating to 5 on a 5 point rating scale.

+100

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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