CIT Bank Money Market Account (MMA)

CIT Bank offers a variety of savings account options, one of which is their Money Market Account (MMA). This account is designed to provide customers with a higher interest rate than a traditional savings account, while still allowing for easy access to funds. Here is a step-by-step overview of the features of the CIT Bank MMA account:

High-Interest Rate

The MMA account offers a competitive interest rate, which can be higher than the rate offered on a traditional savings account. This means that your money will grow faster in an MMA account, allowing you to reach your savings goals sooner.

FDIC Insured

Like all CIT Bank accounts, the MMA is FDIC-insured, providing an added layer of protection for your deposited funds.

Access to Funds

You can access your funds at any time via online banking or by mailing in a withdrawal request. You can also use a CIT Bank ATM card to withdraw money from your account.

Automatic Savings

You can set up automatic transfers from your checking account to your MMA account to help you consistently save money.

Online and Mobile Banking

You can manage your account and track your balance, transactions, and interest earned via online banking or mobile app.

Email/Text Alert

You can sign up for email or text alerts to notify you of important account activity, such as low balance or withdrawal requests.

No Monthly Service Fees

There are no monthly service fees associated with the MMA account, allowing you to keep more of your money working for you.

Interest Compounding

Interest earned on your MMA account is compounded daily, allowing your money to grow even faster.

Customer Service

CIT Bank provides 24/7 customer service support to help with any account-related questions or issues.

Summary

Overall, the CIT Bank MMA account is a great option for those looking to earn a higher interest rate on their savings, while still having easy access to their funds. With no monthly service fees and the added protection of FDIC insurance, this account can be a smart choice for both short-term and long-term savings goals.