Summary: A division of First Citizens Bank, CIT Bank operates exclusively online. It offers a variety of personal and commercial banking products and services. CIT Bank was ranked as one of our top 10 online banks for 2026. CIT Bank product overview
Platinum Savings
CIT’s Platinum Savings account currently offers 0.25% APY on balances of less than $5,000, and 3.75% APY on balances of $5,000 or more. However, new and existing customers can currently earn a six-month rate boost; if you qualify, you can earn up to 4.10% APY during the rate-boost period.
The minimum opening deposit for this account is $100 and interest compounds daily. There are no monthly account fees.
For complete list of account details and fees, see our Personal Account disclosures.
Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. *APYs — Annual Percentage Yields are accurate as of January 9, 2026: 0.25% APY on balances of $0.01 to $4,999.99; 3.75% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100. *Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of March 16, 2026.
Accounts enrolled in the Platinum Savings Annual Percentage Yield (APY) Boost promotion will receive a 0.35% APY boost on the Platinum Savings current standard APY tiers for 6 months following the opening of a new account or when an existing Platinum Savings account is enrolled in the promotion. The Platinum Savings APY boost will be applied on account balances up to $9,999,999.00. Account balances above $9,999,999.00 will earn the standard APY. If the standard-published APY should change during the promotion period, the APY boost will move with it, offering an account APY above the standard rate.
The Promotion begins on February 13, 2026, and ends August 31, 2026. Customers enrolled in the promotion prior to the end date will receive the APY boost for the 6-month period outlined in the terms and conditions.
The promotion can end at any time without notice.
Savings Connect
The Savings Connect account offers a generous 3.65% APY with a minimum opening deposit of $100. Interest is compounded daily and credited to the account monthly.
APY — Annual Percentage Yield is accurate as of January 9, 2026. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.
Savings Builder
CIT’s Savings Builder account offers up to 1% APY with a minimum balance of $25,000 or a $100 monthly deposit. Interest compounds daily. The minimum amount needed to open this account is $100 and there are no monthly account fees.
Money market account
The CIT Money Market account offers 1.55% APY with a minimum opening deposit of $100. There are no monthly account fees.
Certificates of deposit (CDs)
CIT offers a few different types of CDs, including:
Term CDs: These CDs offer terms ranging from six months to five years with a minimum opening deposit of $1,000. Interest compounds daily.
No-penalty CDs: CIT currently offers one no-penalty CD with an 11-month term.
Jumbo CDs: Savers with larger account balances can take advantage of CIT’s Jumbo CDs, which come in 2-year, 3-year, 4-year, and 5-year terms. The minimum opening deposit is $100,000 and interest compounds daily.
RampUp CDs: CIT’s RampUp CDs come in terms ranging from 1 to 4 years with a minimum opening deposit of $25,000.
For complete list of account details and fees, see CIT’s Personal Account disclosures.
Home loans
CIT Bank offers a variety of purchase and refinance mortgage loans.
CIT Bank fees
CIT Bank does not charge monthly maintenance fees on its accounts, but there are a few other fees you could incur as a customer:
Read more: What are bank fees, and how do I avoid them?
CIT Bank pros and cons
Here’s a closer look at some of the pros and cons of banking with CIT Bank:
Pros:
No monthly account fees: CIT Bank does not charge any monthly fees for account maintenance or most account services.
Competitive interest rates: Some of CIT’s deposit account rates reach up to 3.75% APY, which is well above national averages.
ATM fee reimbursement: CIT customers can get up to $30 in ATM fee reimbursements per month.
Cons:
No physical branches: CIT is strictly an online bank with no physical branch locations for customers to visit.
Low rates offered on lower account balances: CIT has tiered rates for certain accounts, which can be a drawback for customers with lower account balances.
High opening deposit for CDs: The minimum opening deposit for a CIT Bank CD is $1,000, which may be too much for savers who are just starting out.
Customer service and mobile banking experience
CIT banking representatives can be reached via secure email or automated telephone 24/7. To speak with a live banking representative, you can call 855-462-2652 during the following hours:
CIT Bank is closed Sundays and holidays.
Home loan customers can reach a representative at 800-217-6629, Monday through Friday from 9 a.m. to 8 p.m. ET. Representatives are not available on weekends or holidays.
The CIT Bank mobile app is available for download on Google Play and the App Store and has a rating of 4.7 stars on both storefronts. Customers can use the app to manage their accounts, check balances, transfer funds between accounts, send and receive money via Zelle, and more.
Social and environmental impact
CIT has made a commitment to its environmental and social goals in a few key ways.
In response to natural disasters in California and Florida, CIT planted more than 100,000 trees in those states through a partnership with nonprofit One Tree Planted. CIT has also partnered with Carbonfund.org to reduce its carbon footprint related to air travel and building electricity consumption.
Many of CIT’s employees have donated their own time back to the communities CIT serves. CIT’s volunteer cyclists in New York, New Jersey, and California participated in Cycle for Survival events, raising thousands of dollars for the Memorial Sloan Kettering Cancer Center.
In 2019, CIT created the Be You Diversity & Inclusion program, which offers a host of employee resource groups in an effort to promote an engaged and more inclusive workplace environment.
Read more: What is sustainable banking?
Frequently asked questions
Is CIT Bank FDIC-insured?
CIT Bank is a division of First-Citizens Bank & Trust Company, which is an FDIC-insured institution. Deposits are insured up to $250,000 per depositor, per account ownership category.
What is CIT Bank’s routing number?
CIT’s routing number is 124084834.
