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CIT Bank review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

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Our verdict

CIT Bank fits US savers who want an online, easy-access account with a solid variable rate and no monthly charge: the easy-access savings account pays a headline rate of 3.75%, above the site median of 3%. The trade-off is easy access rather than a fixed term.

Key facts

Best for
US savers wanting a fee-free easy-access account with a strong variable rate.
Headline rate
3.75%↗
Rate type
Variable↗
Minimum deposit
$100↗
Deposit protection
FDIC up to USD 250,000↗
Access terms
Online and mobile, no branches↗
Monthly fee
$0↗
Account kind
Easy access↗
Legal entity
First-Citizens Bank and Trust Company↗
Headquarters
United States↗
Support channels
Phone↗
Pricing model
No monthly fee
Official website
cit.com

Mortgages

Purpose
Purchase↗

Facts checked September 26, 2026, 3 sources

Apps and profiles

Elsewhere
WikidataWikipediaX

Pros and cons

Pros

  • No monthly fee on the easy-access account: $0
  • Headline rate of 3.75% sits above the site median of 3%
  • Deposit cover of FDIC up to USD 250,000 for US balances

Cons

  • The rate is variable, so the advertised figure can move
  • Money sits in an easy-access account rather than a term product: easy access
  • Access runs through Online and mobile, no branches only
CIT Bank

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Scored 8.7 / 10 by SumCue.

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Who it suits

  • US savers who manage money in an app and want a headline rate of 3.75%
  • Savers keeping running costs down, with a monthly fee of $0
  • Customers who want deposit cover of FDIC up to USD 250,000 on a US balance

Who should look elsewhere

  • Savers who want a higher rate, since Wise pays 3.29% and bunq pays 3.01%
  • Customers who want a fixed return, because the rate here is variable
  • Savers who want a spread of rates rather than one variable figure, since Finteres lists 0% to 36%

Where it sits among rivals

On headline rate, CIT Bank sits at 178 out of 488 brands tracked, which places the account among the stronger earners in the savings field. On minimum deposit it ranks at 303 of 379, so the entry requirement is higher than most rivals listed.

Who runs it

Deposits sit with First-Citizens Bank and Trust Company, a bank based in the US and supervised by the Federal Deposit Insurance Corporation. Customer support runs through phone, and that phone channel is the only help route listed for the account. Savers comparing providers can start with the regulator and the legal entity name.

How CIT Bank compares

Where CIT Bank is available

Available
United States
Licence in United States
Federal Deposit Insurance Corporation (FDIC), checked September 26, 2026

Countries from the brand (Source, checked September 26, 2026)

Frequently asked questions

What rate does the CIT Bank savings account pay?+

The easy-access account pays a headline rate of 3.75%, and the rate type is variable. That means the advertised figure is a variable return, not a promise locked for a set period, so the balance can earn more or less as rates move.

Does the account charge a monthly fee?+

No. The monthly fee is $0, and the account is listed on a no monthly fee model: no monthly fee. With variable interest and no account charge, the only clear cost for a saver is the requirement to hold $100.

How much is needed to open the account?+

The minimum deposit is $100, which is the entry requirement for the easy-access account: easy access. Savers starting with a smaller pot should compare that threshold against rivals, since it ranks at 303 of 379 brands tracked.

How is the account opened and managed?+

Access runs through Online and mobile, no branches. The account is opened and managed digitally, which suits savers used to banking in an app. The account kind is easy access, so money is set up for short notice rather than a fixed term, and the opening balance starts at $100.

Is the money protected?+

Deposits carry FDIC up to USD 250,000, and the bank is supervised by the Federal Deposit Insurance Corporation. That protection scheme covers deposits up to the stated limit, so balances held above it sit outside the cover, and the limit is worth checking against your own balance.

How do I get help?+

Support runs through phone, so phone is the help route listed for this account. That suits savers who prefer to talk the balance through with someone. The bank operates as First-Citizens Bank and Trust Company, based in the US, and day to day access runs through Online and mobile, no branches.

Who is the account aimed at?+

The account is a easy access savings account from a bank in the US, carrying a headline rate of 3.75% and a monthly fee of $0. It fits savers who want digital access, low running costs and deposit protection, and who can fund at least $100.

Sources

Compiled from 3 source pages, checked September 26, 2026. We did not open an account.

Not confirmed yet: Term.

CIT Bank

CIT Bank

US savers wanting a fee-free easy-access account with a strong variable rate.

8.7/10See alternatives