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CIT Bank: 2024 Banking Review

CIT Bank: 2024 Banking Review
CIT Bank: 2024 Banking Review


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

 

The Savings Connect account may be a better fit because you’ll earn a 4.65% APY, regardless of your balance. The Savings Builder, which only pays a maximum of 1.00% APY, isn’t worth a look.

 

CIT savings account features

Account APY Minimum balance Monthly fee
CIT Platinum Savings 5.00% on balances $5,000 and more; 0.25% on balances under $5,000 $100 to open; no requirement after that None
CIT Savings Connect 4.65% $100 to open; no requirement after that None
CIT Savings Builder 0.40% – 1.00% $100 to open; must maintain $25,000 balance or make at least one monthly deposit of $100 or more to earn upper-tier interest rate None

Rates as of July 26, 2024.

 

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