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CIT Bank
3.6
based on 10 Reviews
Working at CIT Bank
Company Summary
CIT provides financial solutions to middle-market firms across various sectors in North America, specializing in financing, leasing, and advisory services.
Overall Rating
3.6/5
based on 10 reviews
Highly rated for
Salary, Skill development, Company culture
Work Policy
Monday to Saturday
62% employees reported
Flexible timing
71% employees reported
No travel
86% employees reported
Day shift
100% employees reported
View detailed work policy
Top Employees Benefits
Office cab/shuttle
1 employee reported
Free meal
1 employee reported
Cafeteria
1 employee reported
Health insurance
1 employee reported
View all benefits
About CIT Bank
Founded in1918 (107 yrs old)
India Employee Count--
Global Employee Count1k-5k
HeadquartersNew York, United States
Office Locations
--
Websitecit.com
Primary Industry
--
Other Industries
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Founded in 1908, CIT (NYSE: CIT) is a financial holding company with more than $65 billion in financing and leasing assets. Its principal bank subsidiary, CIT Bank, N.A., (Member FDIC, Equal Housing Lender) has more than $30 billion of deposits and more than $40 billion of assets. It provides financing, leasing and advisory services principally to middle market companies across more than 30 industries primarily in North America, and equipment financing and leasing solutions to the transportation sector. It also offers products and services to consumers through its Internet bank franchise and a network of retail branches in Southern California, operating as OneWest Bank, a division of CIT Bank, N.A.
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CIT Bank Ratings
based on 10 reviews
Overall Rating
3.6/5
How AmbitionBox ratings work?
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3
4
3
3
1
2
2
1
1
Category Ratings
4.2
Salary
4.2
Skill development
4.1
Company culture
4.1
Job security
4.1
Promotions
4.1
Work satisfaction
4.0
Work-life balance
CIT Bank is rated 3.6 out of 5 stars on AmbitionBox, based on 10 company reviews.This rating reflects an average employee experience, indicating moderate satisfaction with the company’s work culture, benefits, and career growth opportunities. AmbitionBox gathers authentic employee reviews and ratings, making it a trusted platform for job seekers and employees in India.
Read more
CIT Bank Reviews
Compare CIT Bank with Similar Companies
Change Company | Change Company | Change Company | ||
|---|---|---|---|---|
Overall Rating | 3.6/5 based on 10 reviews | 3.6/5 based on 39.6k reviews | 3.7/5 based on 90.4k reviews | 3.7/5 based on 53.4k reviews |
Highly Rated for | Skill development Salary Job security | Job security | Job security Work-life balance | Job security |
Critically Rated for | No critically rated category | Salary Promotions Work satisfaction | Promotions Salary Work satisfaction | Promotions Salary |
Primary Work Policy | - | Hybrid 86% employees reported | Work from office 81% employees reported | Hybrid 62% employees reported |
Rating by Women Employees | 4.9 Excellent rated by 5 women | 3.7 Good rated by 11.8k women | 3.8 Good rated by 26.2k women | 3.8 Good rated by 15.3k women |
Rating by Men Employees | 2.5 Poor rated by 4 men | 3.5 Good rated by 25.2k men | 3.6 Good rated by 59k men | 3.7 Good rated by 35.7k men |
Job security | 4.1 Good | 4.1 Good | 4.5 Good | 3.8 Good |
View more
CIT Bank Salaries
CIT Bank salaries have received with an average score of 4.2 out of 5 by 10 employees.
Assistant Professor
(6 salaries)
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₹3 L/yr - ₹6.6 L/yr
Assistant Vice President
(4 salaries)
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₹26.3 L/yr - ₹60 L/yr
Senior Analyst
(4 salaries)
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₹5.6 L/yr - ₹27 L/yr
Software Engineer
(4 salaries)
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₹7 L/yr - ₹19.1 L/yr
Associate Vice President
(3 salaries)
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₹28.7 L/yr - ₹45 L/yr
AVP
(3 salaries)
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₹24 L/yr - ₹33 L/yr
Vice President (VP)
(3 salaries)
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₹27 L/yr - ₹50 L/yr
Vice President Sales & Marketing
(3 salaries)
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₹12 L/yr - ₹80 L/yr
Data Analyst
(3 salaries)
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₹4.5 L/yr - ₹24 L/yr
Lecturer
(3 salaries)
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₹1.1 L/yr - ₹3.8 L/yr
CIT Bank News
CD, Checking, and Savings Rates Today: Explore Today's Best Rates
- The article provides information on current CD, checking, and savings rates as of March 1.
- It highlights top rates for popular banks like Axos, LendingClub, Valley National Bank, CIT Bank, Forbright, and SoFi.
- Featured CD rates include offerings from Ponce Bank, Barclays, LendingClub, Sallie Mae, Discover, Bread Savings, and SkyOne Federal Credit Union.
- The article also talks about offers from high-interest checking accounts like BCU PowerPlus Checking, SoFi®, Discover Cashback Debit Account, and Axos ONE Savings.
- High-yield savings and checking accounts typically offer better rates, especially through online banks with lower overhead costs.
- Money market accounts provide a middle ground between checking and savings, offering easy access to funds with tiered interest rates.
- Cash management accounts, a savings/checking hybrid, are offered by online banks and allow unlimited transfers.
- Certificates of Deposit (CDs) offer fixed rates for a specified term, with no-penalty CDs providing flexible options for savers.
- Different CD terms like 6-month, 1-year, 2-year, 3-year, and 5-year CDs are discussed, each catering to specific investor preferences and needs.
- Locking money into a CD can yield higher interest rates, with options like no-penalty CDs, 6-month CDs, and 1-year CDs being popular choices.
Insider | 1 Mar, 2025
CD, Checking, and Savings Rates Today: Maximize Your Returns
- High interest rates for deposits are at risk of declining soon, prompting individuals to secure the best rates for savings accounts and CDs.
- Top savings rates from popular banks on February 28 include offerings from Axos ONE, LendingClub, Valley National Bank, CIT Bank, Forbright, and SoFi®.
- Notable CD rates as of February 27 are provided by Ponce Bank, Barclays, LendingClub, Sallie Mae, Discover, Bread Savings, and SkyOne Federal Credit Union.
- High-yield checking account offers include BCU PowerPlus, SoFi®, Discover®, and Axos ONE, each with varying APYs and bonuses for customers.
- Online and lower-profile institutions typically offer the highest rates for savings accounts, benefiting from lower overhead costs compared to traditional banks.
- High-yield savings accounts and checking accounts provide competitive APYs for short-term savings goals with varying levels of accessibility.
- Money market accounts offer a balance between checking and savings, enabling easy access to funds while providing tiered interest rates based on account balance.
- Cash management accounts bridge the gap between savings and checking, offering unlimited transfers and a debit card for convenience, primarily from online banks.
- Certificates of Deposit (CDs) lock in money for a specified term with higher rates compared to savings and checking accounts, providing fixed returns for the duration.
- CD terms vary, including options like no-penalty CDs, 6-month CDs, 1-year CDs, 2-year CDs, 3-year CDs, and 5-year CDs, each catering to different investment goals and risk preferences.
Insider | 28 Feb, 2025
CD, Checking, and Savings Rates Today: Maximize Your Returns
- The federal reserve’s last year rate cut can affect the high interest rates for deposits. According to the daily rate monitoring of banks and credit unions for new account holders on January 31, 2025, locking a high rate is recommended before APYs reduce. The top rates are issued by LendingClub, BrioDirect High-Yield Savings Account, Barclays Tiered Savings, Western Alliance Bank High-Yield Savings Account by Raisin, CIT Bank Platinum Savings, Bread Savings High-Yield Savings Account.
- The best high yield savings accounts that offer high rates are those you find at online or lower-profile institutions as they have lower overhead costs and would risk a high rate to attract more customers. Savings accounts are held at a bank or credit union, not invested through a brokerage account. The best they offer is the security of an account with up to 4.50% APY.
- High-yield checking accounts rates are usually slightly lower than high-yield savings accounts, but they provide strong rates in this rate environment. The best deal on the market currently are the Upgrade Rewards Checking Plus and Performance Savings that pay up to 2% cashback on purchases, giving a perfect hub for your money for everyday spending.
- Certificates of Deposit (CD) rates can outpace the rates of other accounts as they require you to lock in a predetermined amount of money ranging from 3 months to 5 years. The best CD rates are offered under the normal CD policy but you also pay a penalty if you need your deposit before the maturation date. During this maturation period, no changes can be made to CD rates established at the onset.
- 6-Month CDs are best for short-term gains but are uncomfortable having limited access to their cash, the best interest rates offer the mid-5% range currently. Traditional brick-and-mortar savings accounts are offered a substantially lower interest rate than no-penalty CDs with no early withdrawal penalty fee.
- 1-Year CDs are popular options for building a CD ladder or keeping a reasonable cash safety net while still worrying about long-term investments.
- 2-Year CDs are slightly lower than 1-year or no-penalty CDs and are best used when ED ladders are used or a declining market is foreseen.
- 3-Year CDs have rates that are comparable to 2-year CDs and are best for those diversifying investment being wary of long-term investments.
- 5-Year CDs offer lower rates than other CD terms, but still offer some of the highest rates among investable options.
- Aside from checking and CD accounts, cash management accounts sit comfortably in-between checking and savings accounts and usually have unlimited transfers.
Insider | 19 Feb, 2025
Savings, CD, and Checking Account Interest Rates Today: Earn Over 4% APY
- The high interest rates on deposits we've come to expect may go off a cliff following 3 consecutive cuts on interest rates by the Federal Reserve. And with rapidly changing rates, how can you be sure that you're getting the best interest rate? Online or lower-profile institutions offer higher rates at present. And it may be a great time to lock in a high rate before APYs go off a cliff. Here are the top rates for popular banks on Wednesday, February 5.
- Some of the best high-yield savings accounts are: LendingClub LevelUp Savings Account with up to 4.50% APY, BrioDirect High-Yield Savings Account 4.55% APY, Barclays Tiered Savings 4.25% to 4.50% APY, Valley National Bank High-Yield Savings Account powered by Raisin 4.39% APY, CIT Bank Platinum Savings 4.35% APY, and Bread Savings High-Yield Savings Account 4.40% APY.
- Some of the best high-yield CD accounts are Ponce Bank 3 Month CD powered by Raisin with 4.30% APY, Barclays 6 Month Online CD 3.80% APY, Discover 1 Year CD 4.00% APY, Sallie Mae 14 Month No-Penalty CD 3.95% APY, Discover 18 Month CD 4.00% APY, Bread Savings 2 Year High-Yield CD 4.00% APY, and mph.bank 3 Year CD 4.38% APY.
- Some of the high interest checking account offers: Upgrade Rewards Checking Plus and Performance Savings with up to 2% cash back on purchases. Earn up to 4.14% APY on saving balances with the Performance Savings account, the SoFi Checking and Savings with up to 3.80% annual percentage yield on savings balances, the Discover Cashback Debit Account earn 1% cash back on up up to $3,000 per month in eligible debit card purchases, and Truist One Checking accounts with $400 cash reward for opening a new account & completing qualifying activities.
- The best high-yield savings and checking accounts can be found at online or lower-profile institutions, not national brands with significant brick-and-mortar presence. Some of the types of accounts for consideration are high-yield savings accounts, high-yield checking accounts, money market accounts, cash management accounts, and certificates of deposit.
- The best No-Penalty CDs are offered by some banks and will offer rates higher than the best high-yield savings accounts. Six-month CDs are best for those after short-term gains. CDs need you to 'lock in' your money for a predetermined amount of time ranging from three months to five years.
- The best 1-year CDs tend to offer some of the top CD rates, and are a popular option for many investors. The best CD rates may outpace any of the other accounts mentioned before. CD rates aren't variable; the rate you deposit at is the rate you'll get for your term length.
- Locking your money into an account in exchange for a higher interest rate can be a big decision. The CD terms include No-Penalty CD, 6-Month CD, 1-Year CD, 2-Year CD, 3-Year CD, and 5-Year CD.
- Overall, it’s best to know your options and weigh the trade-offs with locking up your money versus ready access.
Insider | 5 Feb, 2025
CD, Checking, and Savings Rates Today: Start Earning More Interest
- Here are the top rates for popular banks on Tuesday, February 4.
- LendingClub LevelUp Savings Account is offering up to 4.50%, with $0 minimum balance to open an account.
- BrioDirect High-Yield Savings Account currently offers 4.55% APY with a $5,000 minimum balance to open an account.
- Valley National Bank High-Yield Savings Account, powered by Raisin, is offering 4.39% APY with $1 minimum balance to open an account.
- CIT Bank Platinum Savings is offering 4.35% APY with a $5,000 minimum balance.
- Barclays Tiered Savings offers 4.25% to 4.50% APY with $0 minimum balance, depending on the balance in the account.
- Discover is currently offering a 1-year CD with 4.00% APY and no minimum deposit requirements.
- The best no-penalty CDs offer rates slightly higher than the best high-yield savings accounts.
- The best 6-month CDs offer interest rates in the mid-5% range, while the best 1-year CDs tend to offer some of the top CD rates.
- The best 2-year CD rates will be slightly lower than 1-year and no-penalty CD rates.
Insider | 4 Feb, 2025
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CIT Bank FAQs
When was CIT Bank founded?
CIT Bank was founded in 1918. The company has been operating for 107 years.
Where is the CIT Bank headquarters located?
CIT Bank is headquartered in New York.
Does CIT Bank have good work-life balance?
CIT Bank has a work-life balance rating of 4.0 out of 5 based on 10 employee reviews on AmbitionBox. 60% employees rated CIT Bank 4 or above on work-life balance. This rating reflects the company's efforts to help employees maintain a healthy balance between their personal and professional lives. We encourage you to read CIT Bank reviews for more details
Is CIT Bank good for career growth?
Career growth at CIT Bank is highly regarded, with promotions and appraisal rating of 4.1. 60% employees rated CIT Bank 4 or above on promotions/appraisal indicating that a significant portion of employees are satisfied with career growth opportunities. We recommend reading CIT Bank reviews for more detailed insights.
What are the pros of working in CIT Bank?
Working at CIT Bank offers several advantages that make it an appealing place for employees. The company is highly rated for salary & benefits, skill development and company culture, based on 10 employee reviews on AmbitionBox.
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