About CIT Bank

CIT Bank is chartered by the state of Utah and regulated by the Utah Department of Financial Institutions and the FDIC. CIT Bank has an independent Board of Directors that guides its activities. CIT Bank raises deposits to fund its lending activities, currently by issuing CDs through various investment channels.
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Overall Rating

MyBankTracker rated CIT Bank based on the following criteria that includes real customer reviews and bank fees, among others. Our bank report card is a proprietary rating system that highlights the financial health and stability of the bank.

A+

MyBankTracker Rating

Customer Rating
Based on 11 Reviews
Financial Health
Based on Texas Ratio: 2.72
Bank Fees
vs. Average
Bank Rates
vs. Average
Mobile Banking
Quality of Mobile Services

Most Helpful Customer Reviews

Mimi's Profile Image

Reviewed by Mimi

May 13th 2013

5 out of 5 marks

Very professional and helpful

I just wish they were open weekends and evenings (I'm on the West Coast). That's no big deal though, just plan ahead.

They've been very good, no mistakes, super nice and competent customer service reps. And their rate doesn't go up and down every other day like so many online banks.

Is this review helpful? ▲ Yes 1 ▼ No 1

Daniel G's Profile Image

Reviewed by Daniel G

Jun 11th 2012

5 out of 5 marks

Simple To Open Account, Very Friendly Customer Service Reps, On-Line Transfers Are Easy

I opened a savings account about a week ago, so far everything has gone flawless and fast. I was also able to set up ach online (after my funds cleared, which took 2 days). You can now make transfer online, you do need to call if the transaction amount is over 5k. The customer service has also been very friendly and knowledgeable. I'm the last person to write a review about something, but with the low savings rate available these days. I wanted to give cit bank some thanks. I will be recommending this bank to others, lets hope that their rates stay competitive.

Is this review helpful? ▲ Yes 3 ▼ No 2

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Bank Rates

NAME RATE (APY) MIN TO EARN APY Min Deposit
CIT Savings

1.00%

$25,000

$25,000

TERM RATE (APY) Min Deposit
12 Month CD

1.25%

$1,000

12 Month CD

1.25%

$25,000

24 Month CD

1.30%

$1,000

24 Month CD

1.40%

$25,000

24 Month CD

1.43%

$100,000

36 Month CD

1.50%

$25,000

36 Month CD

1.60%

$100,000

48 Month CD

1.82%

$50,000

48 Month CD

1.92%

$100,000

60 Month CD

2.27%

$100,000

TERM RATE (APY) Min Deposit
12 Month CD

1.25%

$25,000

24 Month CD

1.40%

$25,000

24 Month CD

1.43%

$100,000

36 Month CD

1.50%

$25,000

36 Month CD

1.60%

$100,000

48 Month CD

1.82%

$50,000

48 Month CD

1.92%

$100,000

60 Month CD

2.27%

$100,000

Banking Fees

Type Fee National average
Monthly Inactivity

$0

$7

Non-Sufficient Fund (Overdraft)

N/A

$30

Stop Payment item

N/A

$27

Return Deposit

N/A

$13

Domestic Wire Transfer (Outbound)

$10

$22

Domestic Wire Transfer (Inbound)

$0

$9

Non-Bank ATM

N/A

$1