CIT Bank Savings Account Rates

The CIT Bank Savings rates are from the New York City bank that was founded in 1908. The name comes from Commercial Investment Trust, and has commercial clients in 30 different business sectors across America. This is the lender to mainly small and medium size organizations doing business in America.

The CIT Savings rates have two different levels in which you can take advantage of. There are the standard savings accounts that are earning an APY of 0.85%. This is on all balances from $0 to $24,999.

The best Savings account rates are from the preferred status for customers that maintain a minimum balance of $25,000 in their savings accounts. This account is earning an APY of 0.90% on all balances above $25,000.

Both of these types of savings account have no monthly service fee. Also free with this service are online transfers, mail checks, incoming wire transfers, and account closures. For those with a standard savings account which have a balance below $25,000, there is a $10 fee for outgoing wire transfers.

To open either account is free of any charges or fees. The only one with a condition is from the preferred savings account, which requires a minimum balance of $25,000. If you open a standard savings account with CIT and the balance exceeds $25,000 in time, then it is automatically changed to a preferred status and your APY will increase.

At this time, there are no CIT Bank Money Market rates to talk about because this type of account is not available.

All of the CIT Bank savings account rates were posted on May 11, 2012, but are subject to change without notice.

 

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