First-Citizens Bank & Trust Company
CIT Bank Money Market Account Review 2026
Updated June 3, 2026
Competitive MMA APY with a low $100 minimum — backed by First-Citizens Bank.
Who CIT Bank Money Market Account is best for
Savers wanting a competitive MMA rate with a low barrier to entry.
At a glance
- APY
- ~1.55%
- Minimum balance
- $100
- Monthly fee
- None
- FDIC
- Insured
Verified at cit.com, Jun 2026 — confirm before opening
Required to open
No monthly maintenance fee
First-Citizens Bank & Trust — $250K coverage
Pros
- +Low $100 minimum to open
- +No monthly maintenance fee
- +Backed by First-Citizens Bank & Trust — well-capitalized parent institution
- +Can be paired with CIT Bank Platinum Savings or Term CDs for a complementary banking setup
Cons
- −MMA APY lower than CIT's own Platinum Savings — check current rates before choosing
- −Account-opening UX less polished than Ally or Marcus
- −No debit card on the money market account — verify at cit.com
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 was offering approximately 1.55% APY as of June 2026. There are no monthly maintenance fees. The $100 minimum is low relative to the category. MMA APYs are variable — verify the current rate at cit.com before opening.
Rates & fees last verified at the issuer on 2026-06-03. Always confirm current terms before applying.
◆ ClearValue platform data
How CIT Bank's MMA rate compares to the FDIC national average
This guide compares 6 MMA offers total. The FDIC tracks a national average rate across all insured banks and credit unions, weighted by deposit share. As of August 17, 2026 the national average money market rate was 0.63% (FDIC National Rates and Rate Caps). CIT Bank Money Market Account at roughly ~1.55% APY pays about 2.5x that national average.
Worked on a $10,000 balance held 12 months: CIT Bank's ~1.55% APY yields roughly $155 in interest versus $63 at the 0.63% national average — a $92 gap on that balance, before compounding (which pushes the real number slightly higher than this simple-interest estimate). CIT Bank Money Market Account is one of 2 offers in this guide with a $100 minimum balance (the other being quontic); the remaining 3 offers have no minimum at all, and discover-mma is no longer accepting new applications so isn't counted here. Both figures move with the Fed's rate path, so confirm the live number before funding.
Primary sources: FDIC National Rates and Rate Caps
The 0.63% figure is the FDIC national average across all insured institutions, not a CIT quote — the bank's own advertised APY changes with market conditions and should be confirmed on its official site before opening.
CIT Bank Money Market Account alternatives
Top alternatives worth comparing from Best Money Market Accounts 2026.
Axos Bank
UFB Direct Money Market Account
Better if you want a significantly higher APY with no minimum
Quontic Bank
Quontic Money Market Account
Better if you want a higher APY at a similar $100 minimum
Ally Bank
Ally Bank Money Market Account
Better if you want debit card, check writing, and ATM reimbursement
Ready to apply?
Application takes minutes. Pre-qualification (where available) uses a soft credit pull with no impact to your credit score.
Apply at First-Citizens Bank & Trust Company→Last verified at the issuer on 2026-06-03
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: Savers wanting a competitive MMA rate with a low barrier to entry.
◆ 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?+
CIT Bank's Platinum Savings typically pays a higher APY than the Money Market Account, but requires a $5,000 minimum balance for the top tier. The MMA is the better fit if you want a lower barrier to entry or need check-writing access. Compare live rates at cit.com at the time of decision. Source: CIT Bank official disclosure at cit.com; FDIC-insured via First-Citizens Bank & Trust Company.
Does the CIT Bank Money Market Account include check writing or a debit card?+
CIT Bank Money Market Account features — including check-writing privileges and debit card access — should be verified at cit.com, as product features can change. CIT Bank's Money Market Account is primarily a savings-rate product; some online bank MMAs (Ally, Discover, Synchrony) are more explicit about check and debit access. If transactional access is important, confirm the specific features available before opening.
Is there a monthly fee on the CIT Bank Money Market Account?+
CIT Bank does not charge a monthly maintenance fee on its Money Market Account. The $100 minimum is required to open the account, but ongoing monthly fees are not a standard feature. Verify the complete fee schedule — including any potential excess-transaction fees — 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, fees, and terms are determined solely by First-Citizens Bank & Trust Company and may change — verify current terms at cit.com before opening.
Related guides
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.