CIT Bank review (2025): Fee-free accounts with market-leading interest rates

Core Insights - CIT Bank, a division of First Citizens Bank, operates exclusively online and offers a range of personal and commercial banking products, being ranked among the top 10 online banks for 2025 [1] Product Overview - Platinum Savings Account: Offers 0.25% APY for balances under $5,000 and 3.85% APY for balances of $5,000 or more, with a minimum opening deposit of $100 and no monthly fees [1][2] - Savings Connect Account: Provides a 3.75% APY with a minimum opening deposit of $100, interest compounded daily and credited monthly [3] - Savings Builder Account: Offers up to 1% APY with a minimum balance of $25,000 or a $100 monthly deposit, with daily compounding interest [4] - eChecking Account: Requires a minimum deposit of $100, earning 0.10% APY for balances under $25,000 and 0.25% APY for balances of $25,000 and over, with no monthly fees [5] - Money Market Account: Offers a 1.55% APY with a minimum opening deposit of $100 and no monthly fees [6] - Certificates of Deposit (CDs): Includes various types such as Term CDs with terms from six months to five years, No-penalty CDs, Jumbo CDs with a minimum deposit of $100,000, and RampUp CDs with terms from 1 to 4 years [7][8] Customer Service and Mobile Banking - CIT Bank provides 24/7 customer service via secure email or automated telephone, with live representatives available during specific hours [12] - The CIT Bank mobile app, rated 4.7 stars, allows customers to manage accounts, check balances, and transfer funds [13] Fees and Competitive Advantages - CIT Bank does not charge monthly maintenance fees and offers competitive interest rates, with some accounts reaching up to 3.85% APY [14] - Customers can receive up to $30 in ATM fee reimbursements per month [14] Social and Environmental Impact - CIT Bank is committed to social and environmental goals, including planting over 100,000 trees in partnership with One Tree Planted and reducing its carbon footprint through partnerships with Carbonfund.org [15][16]