CIT Banking Review | Online Savings Account Reviews - Make Lemonade

CIT Banking Review

CIT Banking Review

Company Overview: CIT

Founded in 1908, CIT is a financial holding company with approximately $50 billion in assets. CIT Bank offers a high yield savings account online, which is known for its high annual percentage yield. CIT Bank has more than $30 billion of deposits and more than $40 billion of assets. CIT offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank.

CIT Overview

CIT offers attractive rates and terms compared with other top online bank accounts:

Account Minimum: $0

Monthly Service Fee: $0

Debit Card: Yes

Mobile App: Yes

How CIT Compares: Key Benefits Of CIT

Here are some of the reasons that investors love CIT:

  • Great Rates: CIT has among the highest annual percentage yields for bank accounts in the industry, which means you can watch your money grow.
  • Account Minimum: You can open a CIT online bank account with $100.
  • Free ATMs: CIT has a mobile app.
  • Remote Deposit: CIT offers remote check deposit.
  • Free Outgoing Wires: If you maintain a monthly balance of at least $25,000, there are no fees for outgoing wire transfers.
  • Customer Support: CIT offers 24/7 customer support.

Bottom Line: Is CIT right for you?

CIT offers among the highest annual percentage yields for online bank accounts, which means you can watch you money grow faster. With no monthly maintenance fees or minimum balance, CIT has built the reputation as a top bank.

The main reason to open a CIT online savings account is the high annual percentage yield, which is among the highest you will find. With CIT’s mobile app (which is available on iOS an Android), you can make deposits, manage your account online and make electronic transfers.CIT does not have any branches.

If you have an account balance of at least $25,000, you won’t pay any fees for a wire transfer. This is a great feature not available at other banks.

If you have an account balance of at least $25,000, you won’t pay any fees for a wire transfer. This is a great feature not available at other banks.

If you want to earn a high annual percentage yield and don’t need the hand-holding of in-person banking, then CIT can be a great fit to watch your money grow faster.

Next Steps: How To Apply To CIT

You can open a CIT account online within a few minutes, and the process is simple.


Best Bank Accounts For 2018

Bank
Rates (APY)

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • One of the oldest online banks
  • Mobile app is compatible with Apple, Android and Windows phones
  • Real-time chat support
  • Access to over 43,000 free ATMs
  • No ATM fees at AllPoint ATMs, plus $10 / month reimbursement for other ATMs

Review

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:No
Mobile App:No

Details

  • No transaction fees
  • Easy electronic transfers, wire transfers or deposit by check
  • One of the leading financial services companies

Overview

Account Minimum:$0
Monthly Service Fee:Waived, if balance of at least $30
Debit Card:Yes
Mobile App:Yes

Details

  • Offers remote check deposit
  • Access to more than 2 million ATMs
  • $0 fees for Synchrony Bank ATMs, $5 monthly rebate for other ATMs
  • $0 overdraft fee
  • Hotel discounts and rental car discounts available for balances over $10,000

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • $5 non-sufficient funds fee (much lower than other banks)
  • No maximum monthly deposit
  • No ATM network, but ability to make electronic transfers that link to your bank account

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • Not-for-profit credit union that you can join by meeting membership criteria, or simply making a $10 charitable donation
  • Access to 80,000 ATMs
  • $0 ATM fees for in-network ATMS, plus $20 / month reimbursement for other ATMs
  • 24/7 phone support

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • Extensive ATM network
  • One of the highest yields around
  • Strong customer service

Overview

Account Minimum:$0
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • Includes automatic savings tool
  • Extensive ATM network
  • Access to service cafes in select cities
  • Ability to set and track goals to save you money

Overview

Account Minimum:$100
Monthly Service Fee:$0
Debit Card:Yes
Mobile App:Yes

Details

  • One of the highest rates
  • Free online banking

Review

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CIT Banking Review
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