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

Customer Reviews

Most Helpful Customer Reviews

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

Jenny L's Profile Image

Reviewed by Jenny L

Jun 8th 2012

2 out of 5 marks

Horrendous Savings Account Experience!

These folks may pay a high interest rate, however you dearly "pay" the price. They are not open weekends or extended hours during the day. They won't send you paper statements no matter what. I have a serious illness and my husband doesn't use the computer. Sure, he could call if something happened, but shouldn't have to. I realize that many online banks just send offer - - these guys don't even do that - you have to log in to see your statements. The csrs are pleasant enough, but their whole way of doing business just plain stinks. I'm changing to a more responsive bank very soon. Buyer beware!

Is this review helpful? ▲ Yes 3 ▼ No 0

Ferryboater's Profile Image

Reviewed by Ferryboater

Feb 22nd 2015

1 out of 5 marks

Terrible Bank

After trying to get info on transferring money in to open a CD, I learned that I'd first have to apply online before getting access to transfer forms. The online process required detailed information and when I called because I needed help with the app, I got the least customer-oriented CSR I've ever dealt with. She was annoyed when I asked her to walk me through what I was having difficulty with and said "this is an online bank." I used up a lot of printer ink before deciding I want nothing to do with this bank.

Is this review helpful? ▲ Yes 1 ▼ No 0

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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
6 Month CD

0.45%

$1,000

12 Month CD

1.20%

$1,000

12 Month CD

1.20%

$25,000

24 Month CD

1.25%

$1,000

24 Month CD

1.35%

$25,000

24 Month CD

1.43%

$100,000

36 Month CD

1.45%

$1,000

36 Month CD

1.45%

$25,000

36 Month CD

1.57%

$100,000

48 Month CD

1.90%

$50,000

48 Month CD

2.00%

$100,000

60 Month CD

2.25%

$1,000

60 Month CD

2.32%

$100,000

TERM RATE (APY) Min Deposit
12 Month CD

1.20%

$25,000

24 Month CD

1.25%

$25,000

36 Month CD

1.45%

$1,000

36 Month CD

1.45%

$25,000

36 Month CD

1.57%

$100,000

48 Month CD

1.90%

$50,000

48 Month CD

2.00%

$100,000

60 Month CD

2.25%

$1,000

60 Month CD

2.32%

$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