CIT Bank Savings Connect Account

What if you could benefit from a superior savings account at the same bank while still enjoying the convenience of a superb online checking account?

CIT Savings Connect is focused on just that. CIT's eChecking account and Savings Account are both included when you open a Savings Connect account.

If you match the requirements, CIT Savings Connect provides you with a fantastic APY by linking the accounts. One of the highest prices available! Let's get started and discover more about CIT Savings Connect in cooperation with CIT Bank.

securely on the bank's website

A savings account with an associated eChecking account is called CIT Savings Connect. As a result, you get to benefit from a high APY on your savings as well as easy access to your money for spending.

Your money can earn up to 4.65% APY in your savings account. Everyone receives the 4.65% APY basic tier. This account used to have two tiers, but for the past year or so, both tiers have been charged the same prices.

The good part is that, if you don't have a typical direct deposit established, CIT will let you know each month if you need to deposit so you can make it happen.

Checking account details

Checking account fees

  • Monthly Fee
  • APY
    4.65% APY
  • Minimum Deposit to Open
  • Out-of-Network ATM Transaction Fee
  • Out-of-Network ATM Withdrawal Fee
  • Overdraft Fee
    $10 fee for accounts with balances under $25,000
  • Non-Sufficient Funds Fee
  • Foreign Transaction Fee

CIT Bank Savings Connect Account FAQ

1. How Does a Savings Connect Account Differ From a Money Market or Savings Builder Account?

The annual percentage yield offered by each account may vary. (APY).

2. Does the FDIC Insures the Savings Connect Account?

The FDIC insures the money in a CIT Bank Savings Connect account.

3. On the Savings Connect Account, How Is Interest Compounded?

Using the daily balance technique, interest is compounded daily at the interest rate that applies to your end-of-day balance. Monthly interest payments are made to the account.

4. How Much Money Must You Deposit to Start a Savings Connect Account?

The account must be opened for at least $100.

5. Has CIT Bank Ever Offered a Welcome Bonus?

CIT Bank does not provide a welcome bonus.

6. What APY Is Provided by CIT Bank Savings Connect?

The APY offered by CIT Bank is 4.65%. (APY stands for annual percentage yield, rates may change). The normal APY for online-only savings accounts is roughly 1% APY, so this is higher.

Savings or checking accounts’ interest rates may alter in response to actions taken by the Federal Reserve. Keep in mind that the annual percentage yield (APY) of a savings account is the amount of interest you will receive if you leave your money in the account for the entire year. An APY and an interest rate are different in that an APY considers how frequently your money earns interest (or compounds). Your money will earn more the more times it compounds. For instance, a savings account with a daily compounding interest rate will produce a bigger return (and hence a higher APY) than a savings account with an annual compounding interest rate.

7. What Is the Routing Code for the Bank?

Direct Banks and branches are two divisions of CIT Bank. (Accounts opened in a branch location).

The routing code for CIT Direct Bank (online-only; no branches) is 124084834.

8. Can I Manage My Account Online?

Yes. You will get an email with details and links to access and manage your account once your account has been activated. You can edit your Online Banking settings, check statements, view recent activity, and evaluate and amend your account(s).

9. How Can I Deposit Money Into My Account?

You can send us a check by mail, inbound wire, mobile deposit through our mobile app, or money transfer (ACH).

10. What Are the Steps for Opening Savings, a Money Market, or a CD Account?

It is quick and simple. Keep the following details close at hand:

  • Social Security number
  • A valid state identity card, such as a driver's license
  • A check or your bank account information from the account you'll use to deposit money into your new CIT Bank account.
  • Names and identifying information for any joint account holders and/or designated beneficiaries, including Social Security numbers and valid identification
Check Out Other Products From CIT Bank
Bank Monthly Service Charge Minimum Deposit to Open APY
CIT Savings Builder Account 0 $100 1.00% APY
CIT Bank CDs 0 $1000 4.90% APY
CIT Bank eChecking Account $0 $100 0.10% - 0.25% APY
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