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)
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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). 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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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