CIT Bank Savings Connect
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CIT Bank Savings Connect
in Savings Accounts from CIT Bank · Member FDIC
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CIT Bank Savings Connect

in Savings Accounts from CIT Bank · Member FDIC
SuperMoney Net Recommendation Score +90  


This product is strongly recommended by SuperMoney users with a score of +90, equating to 4.8 on a 5 point rating scale.


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

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Community Rating Strongly recommended
Monthly Fee $0
(Verified 03/15/2023)
APY (Annual Percentage Yield) 4.20%
(Verified 03/15/2023)
Minimum Balance to Earn APY N/A
Number of Reviews 20

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 Savings Connect are available in 50 states (and Washington, DC).

Key Takeaways

  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 4.20%, which is much higher than the average interest rate for a savings account.
  • $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.

CIT Bank Pros & Cons

Pros Cons
  • Available in all 50 states.
  • High variable APY.
  • 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.
  • Does not provide access to a nationwide ATM network.


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 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.
CIT Bank Savings Connect Minimums
Minimum Opening Deposit $100

What APY does CIT Bank Savings Connect offer?

CIT Bank offers an APY of 4.20% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only savings accounts, which is around 1% APY.

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

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

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


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

Feature Breakdown

Minimum Opening Deposit $100
Monthly Fee $0
(Verified 03/15/2023)
Wire Transfer Fee - Domestic (Incoming) $0
Wire Transfer Fee - Domestic (Outgoing) $10
Wire Transfer Fee - International (Incoming) $0
Overdraft Protection Fee (per transfer) $5
Overdraft Item Fee $30
Returned Deposit Fee (Domestic) $10
Early Account Closure $0
Immigration Status Considered
  • U.S. Citizen
  • U.S. Permanent Resident
Verification Documents Required
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
  • Proof of Identity
  • Government Issued Photo ID
  • Social Security Number
Account Features
  • Free Bill Pay
  • Mobile Check Deposit
  • No Monthly Maintenance Fee
  • Interest Bearing Account
  • Mobile Banking
  • Fraud Monitoring
  • Debit Card Lock/Unlock
  • Fraud Protection
  • Debit Card
  • Branch Access
  • Member FDIC
APY (Annual Percentage Yield) 4.20%
(Verified 03/15/2023)

CIT Bank Savings Connect Community Reviews


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This product is strongly recommended by SuperMoney users with a score of +90, equating to 4.8 on a 5 point rating scale.


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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CIT Bank Savings Accounts