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CIT Savings Connect Review: Why I Still Keep This Account Around in 2025

Review Updated
Brendan Byrnes
Author: Brendan Byrnes
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Brendan Byrnes is the Managing Director at Motley Fool Money, where he leads business strategy and editorial operations. Since joining The Motley Fool in 2011, he has written hundreds of articles, contributed investing and market analysis, and appeared on CNBC and Fox. Earlier in his career at The Motley Fool, he interviewed executives and thought leaders from across the investing and business world. Brendan holds a degree in finance from Virginia Tech.

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Fact Checked: Nathan Alderman
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Many or all of the products here are from our partners that compensate us. It’s how we make money. But our editorial integrity ensures that our product ratings are not influenced by compensation. APY = Annual Percentage Yield.

I've been a CIT Bank customer for years. These days, I've moved most of my savings over to the CIT Platinum Savings account to earn a slightly higher rate, but I still keep my CIT Savings Connect account open. Even though it's no longer the highest-yielding option, it remains a solid backup for a few key reasons.

If you're looking for a flexible, low-maintenance place to grow your savings, CIT Savings Connect might be a better fit than you'd expect.

CIT Savings Connect
Open Account for CIT Savings Connect

On CIT's Secure Website.

Member FDIC.

Rates as of Oct 23, 2025

CIT Savings Connect

Open Account for CIT Savings Connect

On CIT's Secure Website.

Member FDIC.
4.60/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
4.60/5 Circle with letter I in it. Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor. We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
 = Best
= Excellent
= Good
= Fair
= Poor
Open Account for CIT Savings Connect

On CIT's Secure Website.

APY
3.75% Rate info Circle with letter I in it. CIT Bank also offers the Platinum Savings account. Savers with $5,000 or more can get a 3.85% APY with Platinum Savings, but accounts with less than $5,000 get 0.25% with that account.
Min. To Earn APY
$100 to open account
  • Competitive APY
  • No account fees
  • Unlimited number of external transfers (up to daily transaction limits)
  • FDIC insured
  • $100 minimum deposit required
  • No branch access; online only

CIT Savings Connect has among the highest APYs we've seen for an account with no account fees or minimum balance requirement (though a $100 initial deposit is required to open it). It's a great fit for those who want a top-notch APY and a flexible online banking experience.

Our ratings are determined by an editorially independent Ratings team. Here's more information about how we scored this product:

APY (50%)
5.00/5
Brand & Reputation (20%)
Brand (20%)
4.00/5
Account Features (15%)
Features (15%)
4.00/5
Fees (15%)
4.00/5

APY — Annual Percentage Yield is accurate as of September 23, 2025. Interest Rates for the Savings Connect Account are variable and may change at any time without notice. The minimum to open a Savings Connect account is $100. Fees could reduce earnings on the account.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.

For complete list of account details and fees, see our Personal Account disclosures.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

At Motley Fool Money, we rate savings accounts on a five-star scale, shown in tenths of a point to highlight even small differences between products. Accounts are evaluated across four main criteria:

  • APY
  • Brand and reputation
  • Fees and minimum requirements
  • Accessibility and features

Scores may be adjusted to reward limited-time high rates or penalize accounts with excessive fees. Our goal is to highlight accounts that are competitive, easy to use, and backed by trusted institutions. Learn more about how Motley Fool Money rates bank accounts.

What I like about the CIT Savings Connect account

Solid APY without the balance pressure

CIT Platinum Savings currently offers a slightly higher APY, but only if you maintain a $5,000 minimum balance. With CIT Savings Connect, you only need $100 to earn the full 3.75% APY. That kind of flexibility makes it a great option if you don't want to lock up a large chunk of cash.

No monthly fees

No maintenance fees, no minimum balance fees, and none of the usual small-print stuff that can eat into your savings. Whether you're just getting started or you're moving over a large chunk of cash, you get the full benefits of the account without worrying about penalties.

Easy account management

CIT keeps it simple -- it took me five minutes to open the account, and I've never had trouble linking external banks or moving money around. For a no-frills saver like me, that's all I need.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account APY Bonus Next Steps
up to 4.50%
Rate info Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
Min. to earn: $0
Earn up to $300 and +0.70% Boost on Savings APY with direct deposit. Terms apply. Circle with letter I in it. Earn up to 4.50% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.80% APY as of 8/5/25) for up to 6 months. Open a new SoFi Checking & Savings account with Eligible Direct Deposit by 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/banking#2. SoFi Bank, N.A. Member FDIC.
3.85%
Rate info Circle with letter I in it. 3.85% APY for balances of $5,000 or more; otherwise, 0.25% APY
Min. to earn: $5,000
Earn a bonus of up to $300 after a one-time deposit of $25,000+ Circle with letter I in it. This limited-time offer to qualify for a $225 cash bonus with a minimum deposit of $25,000 or a $300 bonus with a minimum deposit of $50,000 is available to New and Existing Customers who meet the Platinum Savings promotion criteria. The Promotion begins on September 23, 2025, and can end at any time without notice. Customers will receive a $225 or a $300 bonus provided that the program requirements are met. Click here to see promotion details and terms: https://www.cit.com/cit-bank/platinum-savings/PS2025
4.10%
Rate info Circle with letter I in it. The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.
Min. to earn: $500 to open, $0.01 for max APY
N/A
Disclaimers

Platinum Savings is a tiered interest rate account. 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. *APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.

Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.

For complete list of account details and fees, see our Personal Account disclosures.

The annual percentage yield (APY) is accurate as of September 30, 2025 and subject to change at the Bank’s discretion. Refer to product’s website for latest APY rate. Minimum deposit required to open an account is $500 and a minimum balance of $0.01 is required to earn the advertised APY.

Downsides you should consider

It's not the highest rate CIT offers

If you're chasing the absolute top APY, the CIT Platinum Savings might be a better fit -- as long as you can consistently keep $5,000 in the account. Otherwise, there are other high-yield savings accounts out there that may edge it out.

Online-only and no ATM access

This is a 100% digital bank. I'm fine with that, as I rarely visit a physical branch for anything these days, but if you want in-person help or ATM withdrawals, this isn't the right account.

Basic tools and support

CIT's digital tools are functional but barebones. The mobile app works, but it won't wow you. And while customer support is available, it's nothing to write home about.

My personal experience

I technically have all three of CIT's savings accounts -- CIT Savings Connect, CIT Savings Builder, and CIT Platinum Savings -- but most of my money is in the Platinum account now so I get the highest APY possible.

Still, I haven't closed my CIT Savings Connect account. I like the flexibility it offers with no balance requirements and a solid rate. It's a great backup option and one I'd recommend if you're looking for a simple, no-fee way to earn interest on your savings.

We want to know what you think about CIT Savings Connect

Do you have first-hand knowledge of CIT Savings Connect? Share your thoughts with us and your fellow Motley Fool Money readers.

CIT Savings Connect
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Who will benefit from the CIT Savings Connect account?

If you're growing your savings from the ground up or just want a no-fuss, high-yield place to park your cash, CIT Savings Connect is a solid choice. There's no steep balance requirement to earn the 3.75% APY, and the fee-free, digital-first experience keeps things simple. If that fits your style, open a CIT Savings Connect account today and start earning more on your money.

That said, if you've got $5,000 or more to stash away and want the absolute top rate CIT offers, this isn't it. You'll want the CIT Platinum Savings instead. Apply today.

FAQs

  • It depends on your balance. Platinum offers a higher APY, but only if you keep $5,000 in the account. CIT Savings Connect is better for lower balances or if you need more flexibility.

  • I linked an external bank account and transferred money in -- it was super simple. You can also deposit checks through the mobile app or set up direct deposit.

  • Yep, your deposits are FDIC insured up to $250,000 per depositor, per account ownership category. That peace of mind is one of the reasons I'm comfortable keeping my money here.