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  • Money Market -
    %
    APY1

    Reach your savings goals with a CIT Bank Money Market account. $100 minimum opening deposit.

  • Benefits and features

    • Earn over 11x the national average2
    • Quick and easy access to funds3
    • No monthly service fees
    • 24/7 secure & award-winning banking
    • FDIC insured4
    • A limit of six transactions per statement cycle3
    • Deposit checks remotely and make transfers with the CIT Bank mobile app

  • Why a Money Market account is the right choice for your savings goals

    Save to buy a home

    Just getting started or getting close to reaching your down-payment goal? Grow your funds with competitive rates—and then access them easily when you find your dream home.

  • Magnify Money's Best Money Market Account Rates List
    Bankrate’s Safe & Sound® Rankings

    Your hard-earned money
    deserves a hard-working bank5

  • Open a Money Market account in 3 simple steps

    1

    Enter your info

    You’ll need to provide your address, phone, email and social security number (or other taxpayer ID).

    2

    Fund your account

    Minimum of $100 to open your account. You can transfer funds with electronic transfer, mail in check, or wire.

    3

    Now you're done

    We'll send a confirmation email.

  • Calculate both time and money

    Use this calculator to find out how much interest you can earn with a Money Market account.

    Try our calculator

    Busting Money Market myths

    Get the facts on why a Money Market account is great choice for short- or long-term savings.

    Read more
  • High interest rate, and access when you need it

    Open an account today.

  • Compare our Money Market and Savings products

     Money MarketSavings BuilderPremier High Yield Savings
    Annual Percentage Yield -%1

    < $25,000: -% APY**/0.995% Interest Rate***

    < $25,000 with minimum $100 monthly deposit: -% APY****/2.421% Interest Rate

    ≥ $25,000: -% APY/2.421% Interest Rate

    -%*****
    Minimum to Open Account $100 $100$100
    Interest Earned Interest earned on entire daily balance. Compounded daily; paid monthly. Interest earned on entire daily balance. Compounded daily; paid monthly. Interest earned on entire daily balance. Compounded daily; paid monthly.
    People Pay Account to Account & PayPal YesNoNo
    External Transfer Limits

    Electronic transfer (ACH): $2 million per transaction/$2 million daily


    People Pay:

    • Account to Account: $50 per transaction / $50 daily
    • PayPal: $50 per transaction/$50 daily

    Bill Pay: Account balance

    Electronic transfer (ACH): $2 million per transaction / $2 million daily Electronic transfer (ACH): $2 million per transaction / $2 million daily
    Excessive Transaction Fee $10 per transaction; assessed from the first violation. $50 monthly cap. Not applicableNot applicable
    FDIC Insured4YesYesYes
    24-hour Online Account Access YesYesYes 
    Bill Pay Coming soonNoNo
    Money Market Bill Pay Stop Payment $30 per checkNot applicableNot applicable 
    Monthly Service Fee NoneNoneNone 
    Monthly Transaction Limits366
    Overdraft Fee $25Not applicableNot applicable
    Outgoing Wire Fee (domestic only) $10 fee for account with daily average balance < $25,000; $0 for balances> $25,000.$10 fee for account with daily average balance < $25,000; $0 for balances> $25,000.$10 fee for account with daily average balance < $25,000; $0 for balances> $25,000.


    ** APY assumes the account is opened on the 15th day of the month and no qualifying deposits of $100 are made following account opening. Actual APY may be greater or less depending on the date the account is opened.


    *** Interest Rate is 2.421% during the Introductory Period and 0.995% thereafter.


    **** APY assumes additional qualifying deposits are made each Evaluation Period.


    ***** Premier High Yield Savings is a tiered interest rate account. Annual percentage yields (APYs) are accurate as of -: -% APY on balances of $250,000 or less; -% APY on balances greater than $250,000. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance. Premier High Yield Savings rates are variable and may change without notice.


    Savings Builder Disclosures
    Savings Builder is a tiered interest rate account. Tier levels are subject to change without notice. Interest rates and Annual Percentage Yields (APYs) are variable and may change without notice. Minimum to open account is $100. APYs are accurate as of February 1, 2019. Fees could reduce earnings on the account.

    Important Definitions

    • "Introductory Period" - Begins the day of account opening and continues through the first Evaluation Day.
    • "First Evaluation Day" - Will occur at the end of the First Evaluation Period after account opening.
    • "First Evaluation Period:"
      • Accounts opened before February 1, 2019: Begins on the first business day of the month after account opening and ends at 4:00 pm PT on the next month’s Evaluation Day, except for accounts opened on the last two business days of a month. For accounts opened on the last two business days of a month, the First Evaluation Period will begin on the first business day of the second month after account opening, and end at 4:00 p.m. PT on the next month’s Evaluation Day. 
      • Accounts opened on or after February 1, 2019: Begins on the third business day prior to the end of the month after the month of account opening and ends at 4:00 pm PT on the next month’s Evaluation Day.

    Following the Introductory Period, the following definitions apply:

    • "Evaluation Period" - Begins the day after an Evaluation Day and ends at 4:00 pm PT on the next month's Evaluation Day.
    • "Evaluation Day" -The fourth business day prior to the end of a month.

    Introductory Interest Rate
    During the Introductory Period, all new Savings Builder accounts will be paid the Upper Tier interest rate. After the Introductory Period ends, accounts will be evaluated on the first Evaluation Day to determine the interest rate to be paid for the next Evaluation Period.

    Monthly Determination of Interest Rate
    On each Evaluation Day the interest rate applicable for the next Evaluation Period will be determined. Accounts with an end-of-day balance of at least $25,000 on the Evaluation Day or with at least one deposit of $100 or more that posts to the account during the Evaluation Period will earn the Upper Tier interest rate during the next Evaluation Period. Accounts with an end-of-day balance less than $25,000 on an Evaluation Day without a deposit of $100 or more that posts to the account during the Evaluation Period will earn the Base Tier interest rate for the next Evaluation Period. This process will occur every month.

    Deposits Made Prior to the First Evaluation Period
    Deposits of $100 or more made between the account opening date and the start of the First Evaluation Period will not count for purposes of determining the interest rate on the First Evaluation Day, unless they result in an account balance of $25,000 or more on the First Evaluation Day.

    Example:
    A Savings Builder account opened on February 12, 2019 and funded with an initial deposit of $5,000 would earn the Upper Tier interest rate during the Introductory Period, which begins on the account opening date and ends on the First Evaluation Day, April 25, 2019.  

    The First Evaluation Period for this account begins on March 27, 2019 and ends on the First Evaluation Day, April 25, 2019.  With a balance less than $25,000, in order to continue earning the Upper Tier interest rate during the next Evaluation Period, the customer must make at least one deposit of $100 or more during the First Evaluation Period, March 27- April 25, 2019.

    Important: Deposits made prior to March 27, 2019 will not count for purposes of determining the interest rate for the next Evaluation Period unless they result in an account balance of $25,000 or more on April 25, 2019.

  • Member

    Your money is safe and sound.

    CIT Bank, N.A. is a member of the Federal Deposit Insurance Corporation (FDIC), which means your deposit accounts are insured up to $250,000 per depositor, for each account ownership category.