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About CIT Bank:
An online and mobile-only bank, CIT Bank came into being in 2009. Its parent company, CIT Group began its operations in 1908. The bank got the name Commercial Investment Trust because the bank initially served businesses only, although it has since expanded to also serve retail customers. CIT Bank is in the list of the largest banks in the US (ranked 42nd) with assets worth $41 billion. Since it is FDIC insured (with up to $250,000 insurance cover for each depositor), its customers do not have to worry about losing their funds if ever the bank goes out of business. To guarantee the safety of online accounts, CIT Bank implements the most recent encryption standards as well as Cybersecurity practices.
The bank provides high-yield savings and money market account and an array of high-yield products that are only available for custodial accounts. Holders of the deposit products have their interest paid every day and then credited once per month. CIT Bank also provides home mortgages, including Jumbo mortgage, FHA, and conventional products. Its customers benefit from both fixed … Read the rest