Learn more about FDIC coverage on your accounts
CIT Bank, N.A. is a member of the Federal Deposit Insurance Corporation
(FDIC), which means your deposit accounts are insured up to $250,000 per
depositor, for each account ownership category.*
are a few common questions regarding FDIC insurance:
does FDIC deposit insurance cover?
FDIC deposit insurance covers
deposits received at CIT Bank, including savings and time deposits, such as
certificates of deposit. FDIC deposit insurance covers the balance of each
depositor’s account, dollar-for-dollar, up to the insurance limit, including
principal and any accrued interest.
What is the FDIC
The FDIC insurance limit is $250,000 per depositor
for each account ownership category. Visit the FDIC website for more information.
not covered by the FDIC?
The FDIC does not insure investments in
stocks, bonds, mutual funds, life insurance policies, annuities, or municipal
securities, even if you bought these products from an insured bank. The FDIC
does not insure US Treasury Bills, Savings Bonds or Treasury Notes.
Get to Know EDIE – The Insurance Coverage Estimator:
has created the Electronic Deposit Insurance Estimator (EDIE) to assist you in
calculating the FDIC insurance coverage on your accounts. By using EDIE, you
can easily determine if your deposits are within or exceed FDIC coverage
limits. To access the EDIE calculator, click here or you may contact the FDIC at 877-275-3342 to discuss your FDIC coverage or any questions
you may have regarding FDIC insurance.
*CIT Bank, N.A. and OneWest Bank, a division of CIT Bank, N.A. are the same FDIC-insured institution. Deposits held under each name are not separately insured, but are combined to determine whether a depositor has exceeded the $250,000 federal deposit insurance limit, per depositor for each account ownership category. For purposes of calculating aggregate deposits held in CIT Bank, N.A., you should include deposits held in OneWest Bank, a division of CIT Bank, N.A.