Do you want to know all the features of the CIT Bank savings account? Responsible Economy analyzes the commissions, interest rate, requirements and all the conditions of the CIT Bank savings account. Welcome!
Features
In this section, we show you in detail all the characteristics of the CIT Bank savings account:
Fees
There are no monthly commissions and you don’t have to pay anything to open the savings account either. You can open the account, never use it and pay absolutely nothing.
Minimum deposit
The minimum deposit for this savings account is $100. This money must be deposited at the time of opening the account. You can transfer funds with electronic transfer, mail in check, or wire.
Rates
The interest offered by the savings account is 4.05%. As you will see later in the comparison, CIT Bank is one of the banks that offers the highest yields.
Comparison with the best savings account 2023
We have made a comparison of CIT Bank with the best savings accounts you can open in 2023 in the United States:
- 4,05% APY
- Minimum deposit: $100
- No welcome bonus
- Member FDIC
- 3,75% APY
- Minimum deposit: $0
- Welcome bonus: $100
- Member FDIC
- 3,75% APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
- 3,75% APY
- Minimum deposit: $0
- Welcome bonus: $250
- Member FDIC
- 3,60% APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
- 3,40% APY
- Minimum deposit: $0
- Member FDIC
- No welcome bonus
- 3,40 APY
- Minimum deposit: $0
- No welcome bonus
- Member FDIC
Pros and cons
Once we have seen the main features of CIT Bank and the best savings accounts, we are ready to see a table with all the advantages and disadvantages:
| Pros | Cons |
|---|---|
| No fees | Minimum deposit $100 |
| High yields | No branches |
| Member of FDIC |
In the advantages we have highlighted that it offers an interest rate of 4.05%, has no monthly commissions and is a member of the FDIC.
In the disadvantages we note that it does not have branches and it is mandatory to deposit $100 to open the savings account.
How much money can i earn
The money you can earn depends directly on the terms and the amount of money you deposit.
For example, if you deposit $100,000 for a year, you have a profit of $4,005.
Requirements
These are the requirements you must meet to open this savings account:
- Live in the United States
- Must be over 18 years old
- Open the savings account online
- Deposit $100
Conclusion
After the analysis carried out, our opinion is that the CIT Bank savings account is one of the best we can open because it offers 4.05% interest and has no commissions. On the other hand, the only negative part is that it is mandatory to deposit $100.
Frequent questions
If you still have any doubts, here we answer all the questions you may have:
More information about CIT Bank
Here you have more information about CIT Bank:
| Information | Description |
|---|---|
| Website | https://www.cit.com/ |
| https://www.facebook.com/CITBank/ | |
| https://twitter.com/CITBank | |
| Phone | 1 (855) 462-2652 |
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Updated the day 16 February, 2023 by Alfredo Barandiarán
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