CIT Savings Connect Account Review

What we like about CIT Savings Connect

CIT Bank is an FDIC-insured online bank, and there isn’t much to say about Savings Connect — which is a good thing. It’s a no-hassle, straightforward option, which is great when you just need a safe and interest-fighting account to store away your savings.

High rates and unlimited transactions

CIT Savings Connect account doesn’t have any monthly fees and earns a high 3.9% APY on all balances. This rate is much higher than the national average rate of 0.38%⁽¹⁾ for savings accounts, easily placing it among the highest-yielding accounts in the current market.

You can also perform unlimited transactions, which isn’t the norm. The lack of limits lets you move money around freely without the risk of excessive transaction fees. Most savings accounts limit you to six monthly transactions to abide by the Fed’s Regulation D, which stipulates those limits. But that regulation is currently suspended indefinitely, so banks can choose whether to implement a requirement.

Where it falls short

The CIT Savings Connect account has limitations similar to other online saving options. You won’t get access to any physical branches or get an ATM card.

You’ll also need at least $100 to open the account. While we’ve seen opening deposits much higher than $100, plenty of high-yield savings accounts don’t require an opening deposit at all.

And while the CIT Bank Savings Connect account is pretty solid, there’s another CIT account with a slightly higher rate at 4% APY — the Platinum Savings account. To earn the 4% APY, you’ll need a balance of at least $5,000 or you’ll only earn 0.25% APY. So, if you’re planning to keep at least $5,000, it’s worth considering CIT's Platinum account instead.

Compare CIT Savings Connect to other savings accounts

Narrow down top savings accounts by APY, opening deposits and monthly fees. Select the Compare box on up to four options to see features side by side.

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Product	Finder Score	Account type	Annual Percentage Yield (APY)	FDIC or NCUA insured amount	Minimum balance to earn interest	Minimum deposit to open	Bonus offer
Promoted Finder score 8.8 Great Uphold USD Interest Account	Finder score 8.8 Great	Savings app	Up to 4.50%	Up to $2.5 million	$1	$0	Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.4 Excellent American First Credit Union MMA through Raisin	Finder score 9.4 Excellent	Money market	4.30%	Up to $250,000	$0	$1	Up to $500 bonus for new customers with qualifying deposits using promo code BOOST.	Go to site More info Compare product selection Compare	loading
Promoted Finder score 9.8 Excellent American Express® High Yield Savings Account	Finder score 9.8 Excellent	Traditional savings	3.60%	Up to $250,000	$0	$0	Go to site More info Compare product selection Compare	loading
Finder score 9.2 Excellent SoFi Checking and Savings	Finder score 9.2 Excellent	Traditional savings,Checking	Up to 3.80%	Up to $250,000	$0	$0	Get up to $300 cash bonus with qualifying direct deposit. Terms apply. This offer is available until January 31, 2026.	Go to site More info Compare product selection Compare	loading
Finder score 9.4 Excellent Varo	Finder score 9.4 Excellent	Traditional savings	Up to 5.00%	Up to $250,000	$0	$0	Go to site More info Compare product selection Compare	loading
Finder score 9.2 Excellent Greenlight	Finder score 9.2 Excellent	Kids banking	Up to 6.00%	Up to $250,000	$0	$0	Go to site More info Compare product selection Compare	loading

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Customer experience

CIT Bank has been in business for over 100 years and holds a decent rating with the Better Business Bureau (BBB). Most notably, it has under 100 complaints — an extremely rare achievement. Large banks typically have thousands of complaints, so the low volume of complaints is good news as far as we’re concerned.

The bank has a handful of reviews on its BBB profile, mostly negative, and some common threads are reports of poor customer service, issues submitting documents, accounts being closed and a few grievances about loan and credit card interest rates. But these are rather common for financial institutions.

On its claimed Trustpilot profile, CIT has a few hundred reviews and a mediocre star rating. Negative reviews are in the same vein as BBB, however, most reviews are positive, praising the bank’s loans, professional customer reps and fast turnaround times for new accounts.

Finder Scores: What they mean

If you want peace of mind, this rating will give it to you. These products offer the best value and outcomes considering various product features, terms, conditions and price.

Well-balanced products that provide what you need, offering a healthy mix of competitive features at a good price. However, they're not quite the best in class.

Bottom line: You can find better, but these products still offer reasonable value and have the basics sorted.

These products may not offer much value in the long run, and there are better options available.