First-Citizens Bank & Trust Company
CIT Bank Money Market Account Review 2026
Updated October 10, 2026
1.55% APY with a $100 minimum to open and no monthly service fees.
Quick answer
CIT Bank's Money Market Account paid 1.55% APY on October 10, 2026, per cit.com (rate dated July 1, 2026), with a $100 minimum to open and no monthly service fees. It was the lowest rate of the five open accounts in this guide. It is issued by First-Citizens Bank & Trust Company, Member FDIC.
Who CIT Bank Money Market Account is best for
Existing CIT Bank customers who want a money market account alongside their other CIT accounts.
At a glance
- APY
- 1.55%
- Minimum to open
- $100
- Monthly fee
- None
- FDIC
- Insured
Read at cit.com on October 10, 2026; the bank dates its rate July 1, 2026
Minimum opening deposit
No monthly service fees
First-Citizens Bank & Trust — $250K coverage
Pros
- +Low $100 minimum to open
- +No monthly service fees
- +Remote check deposit and transfers through the CIT Bank mobile app
- +Can be paired with CIT Bank Platinum Savings or Term CDs
Cons
- −Lowest APY of the five open accounts in this guide (1.55%)
- −CIT's own Platinum Savings paid 3.75% on balances of $5,000 or more (0.25% below $5,000)
- −CIT dates this rate July 1, 2026, and the page we read does not mention a debit card or check writing
CIT Bank Money Market Account requirements
- US resident with SSN/ITIN
- At least 18 years old
- $100 minimum opening deposit
CIT Bank Money Market Account rates & fees
CIT Bank's Money Market Account paid 1.55% APY when we read cit.com on October 10, 2026; CIT dates the rate July 1, 2026. There are no monthly service fees and the minimum to open is $100. The rate is variable — verify the current rate at cit.com before opening.
Rates & fees last verified at the issuer on 2026-10-10. Always confirm current terms before applying.
◆ ClearValue platform data
How CIT Bank's money market rate compares with the FDIC national average
The FDIC's national average money market rate was 0.63% as of September 21, 2026 (FDIC National Rates and Rate Caps). The CIT Bank Money Market Account paid 1.55% APY when we read cit.com on October 10, 2026 — about 2.5x the national average.
On a $10,000 balance held for 12 months at an unchanged rate, 1.55% APY earns $155 in interest and the national average earns $63 — a difference of $92. Among the five money market accounts in this guide that are open to new customers, its APY ranked fifth (the range was 1.55%–3.90%). The highest, Quontic at 3.90%, would earn $235 more on the same balance.
Primary sources: FDIC National Rates and Rate Caps
The 0.63% figure is the FDIC's national average across insured institutions, not a CIT Bank quote. CIT Bank's APY is the one its site showed on October 10, 2026; money market rates are variable and can change after the account is opened, so confirm the rate at cit.com first.
CIT Bank Money Market Account alternatives
Top alternatives worth comparing from Best Money Market Accounts 2026.
Quontic Bank
Quontic Money Market Account
3.90% APY at the same $100 minimum to open
Ally Bank
Ally Bank Money Market Account
3.10% APY with no minimum, a debit card, checks and ATM fee reimbursement
Synchrony Bank
Synchrony Bank Money Market Account
2.00% APY with no minimum, checks and an optional ATM card
Ready to apply?
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Apply at First-Citizens Bank & Trust Company→Guide last updated October 10, 2026
The full lineup
See all picks in Best Money Market Accounts 2026
Editorial methodology + complete ranking criteria + side-by-side comparison of all picks.
Read the full guide →Bottom line
CIT Bank Money Market Account scores 4.1 / 5 on the ClearValue Rating — a deterministic editorial composite from the product's own published fees, terms, and eligibility. Best for: Existing CIT Bank customers who want a money market account alongside their other CIT accounts.
◆ How we scored it
The ClearValue Rating, broken down.
- Cost
- 35%
- Fit & approval odds
- 30%
- Speed & terms
- 20%
- Transparency
- 15%
Cost (35%), Fit & approval odds (30%), Speed & terms (20%), Transparency (15%) — scored consistently across every product, independent of compensation. Full methodology →
Frequently asked
Questions about CIT Bank Money Market Account
How does CIT Bank's MMA APY compare to its Platinum Savings?+
On October 10, 2026, cit.com showed the Money Market Account at 1.55% APY and Platinum Savings at 3.75% on balances of $5,000 or more and 0.25% on balances below $5,000. So Platinum Savings paid more at $5,000 and up, and the Money Market Account paid more below $5,000. CIT dates both rates July 1, 2026. Compare live rates at cit.com. Source: cit.com; FDIC-insured via First-Citizens Bank & Trust Company.
Does the CIT Bank Money Market Account include check writing or a debit card?+
The CIT Money Market page we read does not mention check writing or a debit card for this account. It lists remote check deposit and transfers through the CIT Bank mobile app. If writing checks or card access matters, confirm with CIT before opening, or compare Ally, Synchrony and Quontic, whose pages state those features.
Is there a monthly fee on the CIT Bank Money Market Account?+
CIT lists "no monthly service fees" for the Money Market Account, and a $100 minimum opening deposit. Other fees may apply — read CIT's fee schedule at cit.com before opening.
Is ClearValue Lending a bank or account issuer?+
No. ClearValue Lending is not a bank, account issuer, lender, or financial advisor. This review presents publicly available editorial information about the CIT Bank Money Market Account. The account is issued and operated by First-Citizens Bank & Trust Company (CIT Bank). APYs, terms, fees, and eligibility are determined solely by First-Citizens Bank & Trust Company (CIT Bank) and may change — verify current terms at cit.com before opening.
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Independent editorial review. ClearValue Lending is a business & personal financing platform — not a lender, broker, or financial advisor. Some links are affiliate links; the issuer may pay a referral commission at no cost to you, which never changes the score. Specific product terms vary; verify with the issuer before applying. See privacy policy.