Financial Samurai - Forums

General Investing => Fixed Income Focused => Topic started by: BuckNut on October 08, 2018, 11:04:51 AM

Title: CIT Bank Opinions
Post by: BuckNut on October 08, 2018, 11:04:51 AM
Wondering if anyone has experience with CIT Bank? I just came across them and they seem to have some competitive rates for their Savings Accounts and CDs (

I remember an article from Sam relatively recently that went through some of this stuff, but I'm interested to hear other places people have found great rates for their money (strictly from a savings account perspective).
Title: Re: CIT Bank Opinions
Post by: NYFamilyof4 on October 08, 2018, 11:55:40 AM
I have had good experiences with them from a savings account perspective.  They stay very competitive with rates and are quick to process deposits/withdrawals.  One downside is they often use different kinds of savings accounts for best rates, so I have closed/opened multiple savings accounts with them to stay in the highest rate product.  That said, the process has not been difficult.     
Title: Re: CIT Bank Opinions
Post by: Hayden on October 08, 2018, 12:46:04 PM
I use CIT bank to hold savings and had nothing but good experience with them. They have competitive rates and they have always been quick to help with any questions. I do not have much experience with anything other than their savings, but I would absolutely recommend them.
Title: Re: CIT Bank Opinions
Post by: Jeffolucky on October 09, 2018, 09:39:29 PM
I am also using CIT Bank for some 1 year cd's and have been happy so far. Having only been with them for a few months.
Title: Re: CIT Bank Opinions
Post by: Sam on January 06, 2019, 04:04:53 PM
FYI, I just got an update from CIT Bank that they have raised their money market account interest rate to 2.45% whoo hoo!

If you want to support Financial Samurai, you can sign up at

2.45% is huge b/c the 10-year bond yield is only at 2.65% or so. But you've got to hold onto the 10-year bond yield for 10 years to guarantee your annual 2.65% return.

As someone who is cashed up, looking to buy a new house, this 2.45% is the market solution given I can withdraw freely whenever I find that perfect deal.