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CIT Bank: Bank Overview 2024

CIT Bank has three savings accounts: Platinum Savings, Savings Connect and Savings Builder. If you’re confident that you’ll always have at least $5,000 in your account, Platinum Savings is the best choice, because of its 5.00% APY. However, if your balance drops below that threshold, you’ll only earn 0.25% APY.

The Savings Connect account may be a better choice, as you earn 4.65% APY regardless of your balance. The Savings Builder, which pays a maximum of 1.00% APY, is not worth looking at.

Features of the CIT savings account

Account APY Minimum balance Monthly costs
CIT Platinum Savings 5.00% on balances of $5,000 and over; 0.25% on balances under $5,000 $100 to open; no requirements after that No
CIT Savings Connection 4.65% $100 to open; no requirements after that No
CIT Savings Program 0.40% – 1.00% $100 to open; must maintain a balance of $25,000 or make at least one monthly deposit of $100 or more to earn higher interest No

Rates valid from July 26, 2024.

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