CIT Bank savings, CD and money market rates
CIT Bank advertises 3.75% APY on its Platinum Savings account. The 3.75% needs a balance of at least $5,000. Below that, the account advertises 0.25%.
That is 3.38 percentage points above the national savings average of 0.37% (FDIC, Sep 2026).
Ranked #103 of 2767 tracked savings rates by advertised APY. For a $10,000 balance it would rank #69. It was #47 three months ago.
CIT Bank at a glance
| Savings | |
|---|---|
| Top savings APY | 3.75% · Platinum Savings · needs at least $5,000 |
| Minimum to open | $100 · Platinum Savings |
| Against the national average | 3.38 percentage points above the 0.37% FDIC savings average (Sep 2026) |
| CDs | |
| Top CD APY | 4.00% · 12 months · 1 Year CD |
| Minimum to open | $1,000 · 12 months CD |
| Against the national average | 2.27 percentage points above the 1.73% FDIC 12-month CD average (Sep 2026) |
| Money market | |
| Top money market APY | 1.55% · Money Market |
| Minimum to open | $100 · Money Market |
| Against the national average | 0.92 percentage points above the 0.63% FDIC money market average (Sep 2026) |
| FDIC certificate | 11063 · Raleigh, NC |
|---|---|
| Website | www.cit.com |
| Availability | Nationally available |
CIT Bank savings, CD and money market rates
How the rate applies
Rates are APY. The national savings average is 0.37% (FDIC, Sep 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 59 banks in the Banksparency core savings index, the median advertised rate is 3.66%, and one account in ten advertises 4.16% or more. See the highest savings rates.
CIT Bank CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| 6 months | 3.75% | $1,000 | 6-Month CD |
| 11 months | 3.90% | $1,000 | No-Penalty 11-Month CD |
| 12 months | 4.00% | $1,000 | 1 Year CD |
| 13 months | 3.25% | $1,000 | 13-Month CD |
| 18 months | 2.75% | $1,000 | 18-Month CD |
| 24 months | 0.40% | $1,000 | 2 Year CD |
| 24 months | 0.40% | $100,000 | 2-Year Jumbo CD |
| 36 months | 0.40% | $1,000 | 3 Year CD |
| 36 months | 0.40% | $100,000 | 3-Year Jumbo CD |
| 48 months | 0.50% | $1,000 | 4 Year CD |
| 48 months | 0.50% | $100,000 | 4-Year Jumbo CD |
| 60 months | 0.50% | $1,000 | 5 Year CD |
| 60 months | 0.50% | $100,000 | 5-Year Jumbo CD |
Interactive Tool
Calculate Savings for CIT Bank
All calculations are based on APY.
Minimum balance for higher APY: $5,000
Savings Breakdown
- Interest Earned+$1,284.20(8.4%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,284.20
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What CIT Bank pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined. The 3.75% needs a balance of at least $5,000. Below that, the account advertises 0.25%.
In Q2 2026, First-Citizens Bank&Trust Company paid a higher average rate on savings and money market deposits than 93% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- First-Citizens Bank&Trust Company, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Platinum Savings | 3.75% | $100 | $0 | None | $0 | None | Tiered | |
| Fine print: This is a tiered savings account, where the stated APY requires meeting the $5,000 balance requirement. Lower balances earn a lower APY. | ||||||||
| Savings Connect | 3.65% | $100 | $0 | None | $0 | None | One rate | |
| Money Market | 1.55% | $100 | $0 | None | not stated | not stated | One rate | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| 6-Month CD | 6 months | 3.75% | $1,000 | not stated | not stated |
| No-Penalty 11-Month CD | 11 months | 3.90% | $1,000 | not stated | not stated |
| 1 Year CD | 12 months | 4.00% | $1,000 | not stated | not stated |
| 13-Month CD | 13 months | 3.25% | $1,000 | not stated | not stated |
| 18-Month CD | 18 months | 2.75% | $1,000 | not stated | not stated |
| 2 Year CD | 24 months | 0.40% | $1,000 | not stated | not stated |
| 2-Year Jumbo CD | 24 months | 0.40% | $100,000 | not stated | not stated |
| 3 Year CD | 36 months | 0.40% | $1,000 | not stated | not stated |
| 3-Year Jumbo CD | 36 months | 0.40% | $100,000 | not stated | not stated |
| 4 Year CD | 48 months | 0.50% | $1,000 | not stated | not stated |
| 4-Year Jumbo CD | 48 months | 0.50% | $100,000 | not stated | not stated |
| 5 Year CD | 60 months | 0.50% | $1,000 | not stated | not stated |
| 5-Year Jumbo CD | 60 months | 0.50% | $100,000 | not stated | not stated |
Opening and using the account
| Availability | Nationally available |
|---|---|
| App Store rating | 4.8 out of 5 |
| Google Play rating | 4.7 out of 5 |
| Zelle | Available |
| Eligibility | not stated |
How CIT Bank behaves over time
- 12-month high
- 3.85%
- 12-month low
- 3.75%
- Advertised now
- 3.75%
- 0.10 percentage points below the 12-month high
- Observed cuts, 12 months
- 0
- In a window with 2 Federal Reserve cuts
The advertised Platinum Savings rate, observed through Oct 3, 2026. The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. Jul 1, 2026No-Penalty 11-Month CDRaise:3.75%to3.90%
- Platinum Savings
- The same as 90 days ago.
- 12 months CD
- Up 3.60 percentage points from 90 days ago.
- Money Market
- The same as 90 days ago.
At the top advertised rates we observed for CIT Bank's Platinum Savings, $10,000 would have grown to about $10,376 over the past year. Prices rose 3.4% in the year to August 2026 (Consumer Price Index (CPI)). So it buys as much as $10,035 did a year ago. The series includes promotional tiers where one applied. See how the federal funds rate shapes savings rates.
- Platinum Savings APY
- Banksparency savings index
- Consumer price index, year over year
- Fed rate cut
CIT Bank CD rates over time
Who is CIT Bank?
| Headquarters | Raleigh, NC |
|---|---|
| Founded | 2000 |
| Scale | $236.3B assets · $174.0B deposits, $131.0B of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 11063 |
| BBB rating | A+ · Not BBB Accredited (Information provided is for First Citizens Bank & Trust Company) |
| Affiliation | CIT Bank is an online-only division of First Citizens Bank and Trust Company (FCB), whose parent company, First Citizens BancShares Inc. (NASDAQ: FCNCA), merged with CIT Group in 2022. |
| Affiliated institution | First-Citizens Bank & Trust Company |
| Charter state | North Carolina · the charter, First-Citizens Bank & Trust Company, is one of 38 insured banks chartered there (Q2 2026, FDIC) |
Financial detail is in What CIT Bank pays on deposits above.
Common questions about CIT Bank
Is CIT Bank FDIC insured?
Yes. CIT Bank is FDIC insured under certificate 11063, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at CIT Bank?
CIT Bank requires a minimum deposit of $100 to open its Platinum Savings account, as observed on Oct 3, 2026. Check the bank's current terms before you open an account.
Does the 3.75% apply to my whole balance?
The 3.75% needs a balance of at least $5,000. Below that, the account advertises 0.25%. Rates are as observed on Oct 3, 2026.
CIT Bank against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| CIT Bank | 3.75% | 2.95% | $100 | not stated |
| BrioDirect | 3.75% | 2.10% | $5,000 | not stated |
| Chime | 3.75% | not stated | $0 | not stated |
| CIBC Bank USA | 3.75% | 2.41% | $1,000 | 8 branches in FL, IL, MI, MO |
Each savings APY is the top rate of the account the bank's own page leads with. Alternatives are the three tracked banks whose savings APY is closest to CIT Bank's.
Compare CIT Bank with another bank
Each link opens a full comparison page, with the two banks side by side and their current savings rates.
- CIT Bank vs Barclays
CIT Bank last changed its rate on February 4, 2026, increasing by 10 basis points. EverBank last changed its rate on October 2, 2026, increasing by 30 basis points.
CIT Bank vs EverBankCIT Bank last changed its rate on February 4, 2026, with an increase of 10 basis points, while Marcus by Goldman Sachs last changed its rate on September 18, 2026, also up 10 basis points.
CIT Bank vs Marcus by Goldman SachsCIT Bank last changed its rate on February 4, 2026, up 10 basis points. SoFi Bank last changed its rate on September 23, 2026, up 20 basis points.
CIT Bank vs SoFi Bank- CIT Bank vs Axos Bank
American Express last changed its rate on September 23, 2026, up 10 basis points. CIT Bank last changed its rate on February 4, 2026, also up 10 basis points.
CIT Bank vs American Express
Compare CIT Bank with another bank as a whole
These pages compare more than savings: checking, branches, the other products each bank sells, and their apps.
Similar banks and related pages
Banks in the same rate band with the same product mix:
Other banks chartered in North Carolina, nearest to First-Citizens Bank & Trust Company in deposits:
Rate hubs: today's highest savings rates, CD rates by term, and money market rates.