CIT Bank made me think this was part of CitiBank for the longest time, but its a completely different business. They are mid-sized but still large enough to be considered a top-50 bank and almost large enough to be in the Fortune 500 (not quite). The CIT High interest Savings rate is second to none today and is the best place to earn interest that we’ve found for savings and/or your emergency funds. You can also compare this to our ranked list of high interest savings accounts.
The Important Stuff for the High Yield Savings Account:
- Interest Rate: 2.45%
- Minimum deposit: $25k OR deposit $100 monthly
- Monthly fees: None
What are our thoughts?
Top-50 bank that’s FDIC insured. You can do the deposit $100 monthly and avoid the big deposit. The challenge with this one is that they do require either a high deposit amount or a pretty easy $100 monthly deposit. They are FDIC insured and have no fees which are both very good. So far, our opinion is this is the best place to save money and earn interest today (for a bank). Bankrate rates them 5/5 stars. Link to the offer
Who is CIT Bank?
Established in St Louis, Missouri, almost 100 years ago, CIT Bank is a public business and is focused on a variety of financial services. There are approximately 4,000 people at CIT Bank with $49B in assets.
As always, please do your own diligence as terms may change. Though we do our best to be accurate and provide you the best information possible to make a good, educated decision we may have overlooked something so no guarantees on what we write.