Discover how Cit Finance supports small and mid-sized businesses with fast loans, flexible lending, and nationwide reach in 2025. If you’re in the U.S. and searching for real answers about Cit Finance, you’re not alone. I’ve been there myself, trying to understand whether it’s a bank, a lender, or something else entirely. Let me break it down in a way that makes sense.
Cit Finance, part of the well-known CIT Group (now under First Citizens Bank), plays a big role in business lending. But many people also confuse it with CIT Bank, which offers online savings accounts and CDs. They share a name, but serve very different purposes.
In this guide, I’ll walk you through what Cit Finance really does, how it compares to CIT Bank, what kinds of loans it offers, what real customers are saying in 2025, and whether your money is safe with them. I’ll share my personal experience and provide trusted sources throughout.
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What is Cit Finance?
Cit Finance is the lending arm of CIT Group, a company that’s been around for more than 100 years. It was founded in 1908, back when lending meant helping businesses get off the ground with the right kind of financing. Today, it still does that, but in a much bigger way.
Now part of First Citizens Bank (since their 2022 merger), CIT Finance focuses mainly on commercial lending and equipment leasing. Think of companies that need trucks, machinery, or working capital—CIT Finance helps them grow. On the other hand, CIT Bank is what everyday folks like me use online to open high-yield savings accounts, CDs, and money market accounts. So if you’re wondering about CIT Bank vs. CIT Finance, the main difference is simple: one helps individuals manage money, the other helps businesses move forward.
From my own experience, I once used CIT Bank for their savings account—at the time, the APY was one of the best. But when my cousin opened a small logistics company, he worked with CIT Finance to lease delivery trucks. Two sides, same name, very different services.
Trust matters here. CIT Bank is FDIC-insured, which means deposits are protected up to $250,000 per person, per account type. CIT Finance, meanwhile, operates with decades of commercial credibility and is now backed by First Citizens, one of the largest family-controlled banks in the U.S.
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Cit Finance Loan Options
If you run a business in the U.S.—whether it’s a small shop or a mid-size logistics firm—finding the right funding partner matters; that’s where a Cit finance loan can play a big role.
Cit Finance, through CIT Group (now part of First Citizens Bank), focuses on business lending, not personal loans. Their most common loan options in 2025 include:
- Equipment Financing: If your business needs machines, trucks, or medical devices, they can help you lease or finance them with flexible terms.
- SBA Loans: CIT is a well-known SBA 7(a) and 504 lender, helping small businesses secure funding backed by the U.S. Small Business Administration.
- Commercial Real Estate Loans: For companies looking to purchase or refinance property, CIT offers custom commercial mortgage solutions.
- Working Capital Loans: When you need funds to manage cash flow or payroll, these short-term business loans can help keep things running smoothly.
When you explore a Cit finance loan, you’ll typically go through a straightforward origination process. Based on my cousin’s experience (he owns a small transportation company), it started with a quick online inquiry, followed by a call from a loan officer. They asked for business financials, credit score, purpose of the loan, and repayment ability. The process took about 2–3 weeks from inquiry to funding.
What I personally appreciate is how Cit Finance supports small and mid-sized businesses—the ones that often get overlooked by the big banks. Their team understands industry-specific challenges, especially in healthcare, manufacturing, and transportation.
It’s not just about giving out money—it’s about long-term support. That’s why so many business owners keep coming back.
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Cit Bank Products & Comparison
If you’re someone like me who prefers managing money online without dealing with long bank lines, CIT Bank is worth knowing. It’s the online banking division of CIT Group (now owned by First Citizens Bank), and it’s designed for regular consumers, not businesses.
In 2025, CIT Bank will provide a diverse range of financial products tailored to meet different customer needs.
- High-Yield Savings Account: One of the strongest features. Right now, it pays around 4.30% APY, which is much higher than most traditional banks. (Source: Bankrate, Investopedia)
- Money Market Account: A flexible option that also earns interest. Current APY is about 1.55%, with easy transfers and check-writing.
- Certificates of Deposit (CDs): CIT offers term CDs (from 6 months to 5 years) and a special No-Penalty CD, great if you may need early access. Rates go up to 5.00% APY. (Source: U.S. News)
- eChecking Account: Comes with no monthly fees, mobile check deposits, and access to a nationwide ATM network.
One thing I appreciate is how CIT Bank vs. CIT Finance serve completely different needs. While CIT Bank helps people like us save money, CIT Finance helps businesses grow by offering loans and leases. It’s two sides of the same coin—but each with its own clear purpose.
Whether you’re saving for a trip, your first home, or just building a rainy-day fund, CIT Bank offers smart, low-fee options that are easy to manage from your phone.
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Cit Finance & Cit Bank Reviews
When I try a financial product, I always check reviews first, because real people share the kind of details banks won’t tell you. And when it comes to Cit Finance and CIT Bank, there’s definitely a mixed bag of experiences out there in 2025.
Let’s start with the not-so-great part. On Trustpilot, CIT Bank holds a low rating, with many complaints about poor customer service and technical issues like login errors and account syncing problems.
“Its website and most of all its customer service are horrible, rude, and unhappy.”
Reddit, r/personalfinance
This echoes what I’ve seen on ConsumerAffairs, where users mention long phone wait times, unexpected account closures, and delayed responses during money transfers. My cousin, who tried to move a large amount between his CIT savings and checking, had to call twice and wait over 45 minutes each time.
On the CIT Finance side, businesses have left reviews on BBB (Better Business Bureau), noting issues with loan servicing, lack of transparency, and sometimes denied funding without a full explanation. According to Business Insider, some commercial clients also faced unexpected delays in disbursements.
But it’s not all negative.
There are positive stories too. Some users said that estate coordination during the loss of a family member was handled smoothly by CIT Bank’s back-office team. Others praised the bank’s high APY savings account and no hidden fees once everything is set up.
In response to complaints, CIT has begun making platform updates, hiring more support reps, and improving mobile banking tools in 2025. I personally noticed smoother logins this year compared to 2023.
Overall, the sentiment is clear: CIT Bank and Cit Finance offer solid financial tools, but they’re not perfect. If you’re someone who values fast customer service and flawless tech, you might need patience. But if rates and flexibility matter more, they could still be a smart choice.
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Is CIT Bank Safe for Your Money? (2025 Guide)
When I first considered banking with CIT Bank, one question kept popping into my mind: Is my money really safe here? It’s a smart question—and here’s what I found, based on real experience and reliable sources.
Protected by FDIC Insurance
Yes, your money is secure with CIT Bank. Like major national banks, CIT is insured by the FDIC. This means your deposits are covered up to $250,000 per depositor, per account category. In the unlikely event that the bank fails, the federal government ensures your funds are still protected—this is confirmed by FDIC.gov.
Part of a Bigger Bank (Since 2022)
In 2022, CIT Bank merged with First Citizens Bank, one of the largest family-controlled banks in the U.S. (Sources: CIT.com, Investopedia, Wikipedia). This gave CIT more financial strength and better stability. Personally, knowing there’s a bigger, well-managed bank behind it made me feel more confident.
What About Website or Scam Concerns?
I’ll be honest—CIT’s website sometimes feels outdated. Some users report slow loading or login issues. That might raise red flags at first glance. But there’s a big difference between bad tech and bad banking. While the digital experience could improve, the financial foundation is solid. It’s not a scam—it’s a real, regulated, and insured U.S. bank.
My Tip: Don’t Keep All Your Eggs in One Basket
Even with FDIC protection, I personally don’t keep more than $250,000 in one bank. If you’ve got more to store, consider spreading it across different banks.
Bottom Line: CIT Bank is a safe place for your money, especially with FDIC insurance and the strength of First Citizens behind it. Just be aware of the digital quirks and stay under insurance limits. That’s how I bank smart in 2025.
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Why CIT Finance Might Matter to You (2025)
When I first came across CIT Finance, I was surprised by how much it could offer, especially for small and mid-sized businesses like mine. Unlike many newer online lenders that only offer one-size-fits-all solutions, CIT has a wide lending portfolio that feels more flexible and practical.
Commercial-Ready, But Small-Business Friendly
I like that CIT isn’t just focused on startups or tiny loans. It supports larger commercial operations too—everything from equipment financing to working capital loans. If you’re a growing business, that matters. In my case, I needed fast access to capital to upgrade equipment. CIT came through quicker than my regular bank, and the process felt straightforward.
Online lenders can be great, but they often lack the range CIT provides. That’s what made it stand out for me.
Customer Service: The Real Deal Breaker
Now, I’ll be honest—CIT’s customer service isn’t perfect. I’ve read reviews and even called them myself. Sometimes, you might wait on hold longer than you’d like, and not every rep feels helpful. That’s why it’s so important to choose the right provider for your needs.
If you value fast funding more than hand-holding, CIT could be a great fit. But if personal service is your top priority, you may want to compare options.
Final Thought: CIT Finance matters because it can move quickly, offer flexible loan options, and support businesses beyond the basics. Just be mindful of the service side, and always compare before committing.
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Smart Tips for Using CIT Finance & CIT Bank (2025)
If you’re banking or borrowing with CIT, here are a few helpful things I’ve learned from experience:
Read the Fine Print
Before signing a loan or opening an account, read every detail carefully. I once missed a clause on early withdrawal penalties for a CD—it cost me more than I expected. Terms can vary by product.
Check Website Performance
CIT’s website is secure, but it can be a bit clunky. Always double-check transactions and log in from a trusted device. I recommend using their app for smoother access.
Use External ATM Networks
CIT doesn’t have its own ATMs, but you can use fee-free ATMs nationwide through partner networks. Just be sure to check the list before withdrawing.
Monitor Your Accounts
Set up alerts for deposits, withdrawals, and due dates. It saved me once when a scheduled loan payment didn’t process on time.
Compare Rates
Especially for CDs or savings accounts, always compare rates with other banks. CIT is competitive, but sometimes a local credit union or online bank may offer better deals.
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Conclusion & Final Thoughts (2025)
After exploring both CIT Finance and CIT Bank, here’s what stood out most for me—and why it might matter to you.
CIT Finance shines when it comes to business lending. I like that it offers fast funding and a wide lending portfolio. Whether you need equipment financing or working capital, it’s built for growing businesses that want quick, reliable support.
On the other hand, CIT Bank leans more toward consumer banking. It offers competitive interest rates, especially on savings accounts and CDs. But keep in mind, its website and mobile app may feel outdated at times, and customer service can be hit or miss. Still, the bank is FDIC insured and backed by First Citizens Bank since 2022, so your money is protected.
In short, if you need business lending, CIT Finance can deliver. But if you’re after consumer savings products, CIT Bank may offer solid rates—just expect a few digital quirks.
Final Tip:
No one-size-fits-all bank exists. Explore your options and choose what fits you best. What was effective for me might not be the right fit for you, and that’s completely okay. The goal is to bank smart, stay informed, and feel confident with your money.
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