About CIT Bank
CIT Bank is the internet-based bank that is part of CIT Bank, N.A., the principal banking subsidiary of CIT Group, Inc. – a financial holding company founded in 1908. CIT Bank, N.A. was founded in 2009.
As of September 2018, CIT Group had more than $30 billion in deposits and more than $40 billion in assets, according to CIT Bank. CIT Bank has its headquarters in Pasadena, California.
Both CIT Bank, N.A. and OneWest Bank, which is a division of CIT Bank, N.A., are under the same FDIC insurance.
CIT Bank is known for offering a top-tier APY on its Savings Builder and has competitively increasing APYs to stay near the top of Bankrate’s top-saving APYs.
CIT Bank is a great choice for customers who are looking for high-yielding savings and CD accounts. If you prefer to have branch access or a checking account for day-to-day banking, you should look elsewhere.