CIT Bank Savings Builder

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 1.00%, which is higher than the average interest rate for savings accounts. Note that you must keep a minimum balance of $0.01 to earn that interest rate.
• $0 monthly fee. This account does not charge any monthly account fees.
• $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 rebates. This account will reimburse you for ATM fees (see terms and conditions for details).

CIT Bank savings Pros & Cons

CIT Bank savings FAQ

Are savings accounts from CIT Bank federally insured?

Yes, your deposits 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?

What APY does CIT Bank Savings Builder offer?

CIT Bank savings offers an APY up to 1.00% (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?

Yes, you can typically set up a direct deposit to this account. 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 custserv@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.