Last Updated: 07/07/2025
SuperMoney User Recommendation Score +90
Strongly recommended20 total votes
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Highlights
Community Rating
Strongly recommended
APY (Annual Percentage Yield)
3.90%(Verified 06/12/2025)
Disclaimer popup with additional information
Minimum Opening Deposit
$100
Minimum Balance to Earn APY
N/A
Number of Reviews
CIT Bank Savings Connect Review
CIT Bank Savings Connect is offered by CIT Bank, a bank founded in 1908 and based in Raleigh, NC. CIT Bank are available in 50 states and Washington, DC.
Key Takeaways
- High yield savings. This account offers an annual percentage yield of up to 3.90%, which is much higher than the average interest rate for a savings account.
- No monthly maintenance fees. This account does not charge any monthly account fees.
- $100 minimum opening deposit. This is a typical minimum initial deposit.
CIT Bank Pros & Cons
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CIT Bank FAQ
Are savings accounts from CIT Bank federally insured?
Yes, your deposits are insured 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 doesn't offer a signup bonus.
What is the minimum initial deposit for CIT Bank?
The minimum deposit to open a CIT Bank is $100.| Description | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Minimum Opening Deposit | $100 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
What APY does CIT Bank Savings Connect offer?
CIT Bank offers an APY of 3.90% (APY stands for annual percentage yield, rates may change). This is much higher than the average savings account rate.
The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually. What fees does CIT Bank charge?
CIT Bank 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.
- An overdraft on your account will trigger a $30 fee per item.
Does CIT Bank charge overdraft fees?
Yes, CIT Bank charges a $30 overdraft fee. CIT Bank offers overdraft protection at a cost of $5 per transaction. This overdraft protection fee is charged every time the bank arranges a transfer from another one of your accounts, typically a savings account, to cover the overdraft.
What features and perks does CIT Bank offer?
This savings account includes the following features:
- Fraud monitoring - CIT Bank 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 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?
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?
The customer support email for CIT Bank is custserv@cit.com.
How do people rate the customer service and user experience of CIT Bank?
Overall, CIT Bank 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.
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
Other Savings Accounts from CIT Bank
APY (Annual Percentage Yield)
Up to 1.00%
Minimum Opening Deposit
Starting at $100
Minimum Balance to Earn APY
$0.01
APY (Annual Percentage Yield)
0.25% - 4.00%
Disclaimer popup with additional information
Minimum Opening Deposit
$100
Minimum Balance to Earn APY
N/A
SuperMoney Net Recommendation Score
SuperMoney users strongly recommend this product, giving it a user recommendation score of +90, or 4.8 on a 5-point rating scale.
+90
-1000+100
No one recommends
Everyone recommends
CIT Bank Savings Connect Community Reviews
Would you recommend CIT Bank Savings Connect to your friends?
Jamshaid A.
Feb 2, 2023
May or may not recommend
Despite the fact that interest rates aren't where they once were, CIT Bank continues to offer minimal minimum balance requirements and other savings incentives. The ability to earn a greater APY by making consistent $200 contributions intrigued me. Sometimes we have to deceive ourselves to save more money. This is a great option if you're looking for a backup savings account.
MC
Mazhar C.
Nov 25, 2022
May or may not recommend
They are awesome! They will take care of you and so nice.i reccomended it
MA
Muhammad A.
Jul 28, 2022
May or may not recommend
They are awesome! They will take care of you and so nice.i reccomended it
MG
May G.
Jun 8, 2022
May or may not recommend
The overall value of this account is great. It offers a very high interest rate compared to other institutions and also a low min deposit amount. The only thing i wise they would incorporate is a better ATM network to make it easier and faster to deposit or withdrawal funds.
YB
Yusra B.
Apr 15, 2022
May or may not recommend
This company only offers a small amount of apy ( the interest you earn back per year from an account) and there's no room for improvement.
RA
Rachael A.
Mar 28, 2022
May or may not recommend
No months fees AND FDIC insured. The service is great and friendly. The online interface is easy to use and access.
RM
Radiance M.
Jan 13, 2022
May or may not recommend
I enjoyed my experience with this account. The downside is that there is a minimum deposit but the service was very much worth it. They offer mobile banking and were FDIC insured which I appreciated.
ER
Emma R.
Jan 6, 2022
May or may not recommend
I was previously with another bank, and they would charge me $5.00 every month. I found CIT Bank, and they don't charge me any monthly fees. Not only that, but I also like that CIT Bank is FDIC insured, which helps if the bank would ever go under. I really like how professional their customer service agents are.
Just the best:)
ET
El T.
Sep 1, 2021
May or may not recommend
They are awesome! They will take care of you and so nice.
Andrew H.
Aug 11, 2021
May or may not recommend
Very good online user interface, and smart phone friendly as well. A very good yield for a savings account.
A P.
Jul 22, 2021
May or may not recommend
Although a minimum deposit amount was required I am very happy with the service I have received with Cit Bank. I am able to utilize mobile banking and online bill pay which makes life so much easier. They are also FDIC insured, which gives me peace of mind.
OM
Okera M.
Jul 16, 2021
May or may not recommend
With no monthly fees for checking and savings accounts, I love this product.
MB
Michael B.
Jul 15, 2021
May or may not recommend
Incredibly helpful and attended to my every need - they even went above and beyond for me many different times. I was surprised how they were one of the few banks I've encountered that fulfilled the promises ALL banks make.
Maci B.
Jul 14, 2021
May or may not recommend
I would recommend this company to save money with it's a amazing company to use
SC
Shoane C.
Jun 28, 2021
May or may not recommend
I would say about three years ago, I used there bank,and I was completely satisfied with the services they offer. One of the things that I like about this Bank is that they care about your savings and not just your money. They build a relationship with you, which helps them determine what services that they offer are best for you. Yes, CIT Bank is FDIC insured, and they protect ...Show More
AB
Ava B.
Jun 27, 2021
May or may not recommend
After searching around for different savings banks to begin with, I would highly suggest CIT Savings Bank. It allows you to start out with only $100 which is super helpful for those with very little. I also greatly appreciated as it constantly monitors for fraudulent activity. The only upset was the dilemma of depositing cash. However, once you work out the issue, I was thankful for signing up.
ES
Emily S.
Jun 23, 2021
May or may not recommend
Pretty good to start with. You only need 100 dollars to start an account. The higher amount in your account the higher the interest you gain in it. There are no atm fees and you can access your account anytime which is great. The drawback is depositing cash will be a hassle since it's only mobile banking so you'll need to check or direct deposit.
SL
Serise L.
Jun 20, 2021
May or may not recommend
Interest rates just aren't where htey used to be, but CIT Bank is still giving people low minimum balances and plenty of incentive to save. I thought it was interesting that if you make regular deposits of $200, you can unlock a higher APY. Sometimes we have to trick ourselves in order to put more into savings. If you're looking for a secondary savings account, I certainly recommend this one.
PN
P N.
Jun 11, 2021
May or may not recommend
I needed the best interest rates for my money, and this company provided just that. Along with several benefits that I have never seen available anywhere else. If anyone is looking for the best interest rates and most beneficial savings account, you don’t need to look any further than this company. You will not be disappointed.
Shane T.
Jun 10, 2021
May or may not recommend
Cit Bank Savings connect.
Cit Bank Savings connect was brought to you by Cit Bank.
founded in 1908 and based in SLC, Utah,
There are some highlights these highlights are,
1.- monthly fee $0
2.- APY 0.42% - 0.5%
3.- APY minimum balance N/A
There is an $100 minimum balance to open an account at Cit Bank.
hours of operation are,
Mon - Fri 7:00am - 7:00pm
Closed Sat - Sun
you can contact Cit Bank by,
visit there website
E mail ...Show More
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