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CIT Bank review: An online bank with checking, savings, CDs, and MMAs

Customers seeking a savings account or a no-penalty CD at an online-only bank might find CIT a good fit for their needs.
The article from Fortune provides a comprehensive review of CIT Bank, highlighting its competitive savings and money market accounts, as well as its range of CDs with attractive rates. CIT Bank, a division of First Citizens Bank, is praised for its high-yield savings options, including the Platinum Savings account which offers a high APY for balances over $5,000, and the Savings Builder account that rewards consistent monthly savings. The bank also offers a money market account with a competitive APY and no monthly fees, though it requires a $100 minimum deposit. Additionally, CIT Bank's CDs come in various terms with competitive rates, and the bank provides a no-penalty CD option. The review notes that while CIT Bank excels in savings products, it lacks a checking account and has limited customer service hours, which might be drawbacks for some customers. Overall, CIT Bank is recommended for those looking to grow their savings with minimal fees and competitive rates.

Read the Full Fortune Article at:
[ https://fortune.com/article/cit-bank-review/ ]