CIT Bank Review 2025: First Citizens Bank operates CIT Bank as its online banking division which belongs to one of the major family-run U.S. banking institutions. The internet-based financial institution provides excellent interest rates to its customers who hold high-yield savings accounts and money market accounts as well as CDs. CIT dedicates all its resources towards generating high returns while maintaining minimal fees because it operates without physical locations.
✅ Pros of CIT Bank in 2025
1. High Interest Rates
CIT Bank demonstrates the highest yield rates among its competitors in the market.
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Savings Connect Account: 4.00% APY
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Platinum Savings Account: Up to 4.10% APY for balances over $5,000
Traditional banks offer lower interest rates when compared to the rates CIT Bank provides.
2. No Monthly Maintenance Fees
Monthly fees do not exist at CIT Bank thus creating more efficient saving possibilities for customers.
3. ATM Fee Reimbursement
The ATM fee reimbursement service of up to $30 per month provided by CIT Bank adds extra convenience to its online banking format.
4. User-Friendly Mobile App
The mobile application works for both Android and iOS systems where users can execute the following tasks effortlessly:
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Transfer funds
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Pay bills
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Check balances
The Apple App Store users gave this App a rating of 4.6/5.
❌ Cons of CIT Bank in 2025
1. Customer Service Complaints
Many customers have reported:
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Long hold times
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Delayed responses
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Difficulty resolving issues
This could be frustrating if you need urgent help.
2. No Physical Branches
People who need to visit bank branches to speak with representatives should avoid opening an account at CIT. It’s 100% online.
3. Occasional Technical Glitches
Users may encounter difficulties with account access together with site navigation problems when the system is experiencing high traffic.
📊 How Do Customers Rate CIT Bank?
| Platform | Rating |
|---|---|
| NerdWallet | ★★★★☆ (4.5/5) |
| Trustpilot | ★★☆☆☆ (2.3/5) |
| BBB (Better Business Bureau) | ★☆☆☆☆ (1.2/5) |
| U.S. News Money | ★★★★☆ (4.1/5) |
While finance experts praise its rates, real users have mixed feelings.
💬 Is CIT Bank Safe?
The investment protection of your funds at CIT Bank reaches up to $250,000 due to its FDIC insurance status. The financial stability and security of CIT Bank is established through its connection with First Citizens Bank.
🎯 Who Should Choose CIT Bank?
Ideal For:
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Savers who seek maximum interest on their savings accounts would find CIT Bank to be beneficial.
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Those comfortable with online-only banking
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The products and services at CIT Bank work for clients who prefer remote banking services rather than branch visits.
Not Ideal For:
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People who prefer traditional banking
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Those needing 24/7 customer support
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Users who aren’t tech-savvy
💡 Expert Verdict
CIT Bank provides top-rate interest rates together with minimal fees thus delivering great savings benefits. If you place substantial importance on traditional customer service and banking through personable staff then other online banking options including Ally, SoFi and Discover should be your benchmark.
🙋♂️ FAQs about CIT Bank
Q1: Is CIT Bank a real bank?
Yes. First Citizens Bank maintains CIT Bank as an authentic banking division which provides FDIC insurance to its customers.
Q2: How much can I earn with CIT’s savings account?
Depending on your balance, you can earn up to 4.10% APY—one of the highest rates in the U.S.
Q3: Does CIT Bank charge any fees?
CIT Bank operates without charging any maintenance costs on a monthly basis. Overdrafts and wire transfer operations may require payment of additional fees to CIT Bank.
Q4: Can I access cash easily?
Yes. CIT Bank members can withdraw money from any automated teller machine (ATM) while the bank reimburses up to $30 each month in these fees.
Q5: Is CIT Bank good for beginners?
The banking service provides beneficial conditions to users who make online transactions and wish to build their savings without facing fees.
✍ Final Thoughts
High-interest savings seekers will find CIT Bank to be their ideal option yet it still has limitations. The platform excels as a savings tool for people who rely on technology and prioritize good returns while being comfortable without branch service.
Read More: Varo Bank Review 2024 : Find Out Why Varo Bank is Dominating the World of Online Banking!
Execute an evaluation of both advantages and disadvantages of switching before implementing a change specially when it comes to customer support.
💡 Pro Tip: Open an account when interest rates are high and compare terms regularly to ensure you’re getting the best deal.
Braj Verma is a resident of Rajgarh in Madhya Pradesh and is a content writer and freelancer by profession. He has a degree in Political Science from Barkatullah University, Bhopal. He has expertise in subjects like credit cards, banking, loan, insurance, political analysis and digital marketing.