Is CIT a good bank?

Overall, the strong rates and no-fee status earn CIT Bank a mention among NerdWallet’s best high-yield online savings accounts and best money market accounts.

Is CIT Bank the same as Citibank?

CIT Bank is owned by CIT Group and Citibank is owned by Citigroup (I know, this is clear as mud so let me explain further). Both parent companies trade on the New York Stock Exchange, but CIT Bank has a ticket symbol of CIT and Citigroup has a ticket symbol of C. They are two separate institutions.

What type of bank is CIT Bank?

CIT Bank, N.A. is a subsidiary of financial holding company CIT Group, Inc. (NYSE: CIT). CIT Bank focuses on offering some of the most competitive interest rates on the market. This review is focused on the personal banking side of CIT Bank, but they also offer business and commercial banking solutions.

What is CIT banks interest rate?

**Interest Rate is 0.499% during the Introductory Period and 0.399% thereafter. ***APY assumes a Qualifying Deposit of $200 or more is made to the linked eChecking account each Evaluation Period. Visit our Savings Connect page for complete terms and conditions. Savings Builder is a tiered interest rate account.

Is CIT Bank legitimate?

The good news is CIT Bank is legit. Founded in 1908, they reported over $50 billion in assets under management in September of 2018 (and not for nothing, you can earn over 11x the national average with their Money Market account ).

Is Citibank insured by FDIC?

Citibank, Federal Savings Bank , founded in January 01, 1890, is currently an active FDIC insured bank. The chartering agency for Citibank, Federal Savings Bank is currently with the Office of Thrift Supervision . This FDIC insured bank is not being operated by government conservatorship.

Is CIT Bank safe?

With CIT Bank your money will be safe and sound because the bank is FDIC insured. If you deposit your money and the bank goes under, you’ll be fine – as long as you don’t have more deposited than the FDIC insurance will cover.

Does Citibank have online banking?

The Citibank Basic Banking Account offers basic banking services. It also provides free access to Citibank ATMs and unlimited check writing. Further, upon opening this account, users receive a checking login and have the ability to make bill payments directly from an online account. For these basic services, Citibank charges a monthly fee of $12.