The CIT Bank Savings Builder Account is a tiered savings account that offers competitive APY rates for those carrying qualifying balances or looking to commit to a monthly qualifying deposit. Below is all the details you need to open a CIT Bank Savings Builder Account.
In addition to the current rate from CIT Bank, you can also take advantage of a range of great promotions from banks such as HSBC Bank, Chase Bank, Huntington Bank, Discover Bank, TD Bank, or BBVA Compass Bank.
|CIT Bank Savings Builder||1.75% APY + $300/$150 Cash||Review|
|CIT Bank CDs||Up to 1.85% APY||Review|
|CIT Bank No Penalty CD||1.75% APY||Review|
|CIT Bank Money Market||1.85% APY||Review|
Table of Contents
CIT Bank Savings Builder Account Summary
Here is your opportunity to earn a highly competitive return rate on your funds. Open a new CIT Bank Savings Builder Account and get started today!
- Rate Offer: Up to 1.75% APY Rate + $150/$300 Bonus
- Availability: Nationwide
- Expiration: None
- Credit Inquiry: Soft Pull
- Credit Funding: None
- Opening Deposit Requirement: $100
- Direct Deposit Requirement: No
- Monthly Service Fee: None; however, there is a $10 per outgoing wire fee on accounts with an average daily balance of less than $25,000
- Early Termination Fees: None listed
CIT Bank Savings Builder Account: Consider opening a Savings Builder account online to earn a phenomenal APY Rate on your funds. Apply today!
CIT Bank Savings Builder Account Rates
|Base||$0 – $25,000||1.15%|
|Upper||$0 – $25,000, but with monthly deposit of $100 or more||1.75%|
Base APY assumes the account is opened on the 15th day of the month and no qualifying deposits of $100 are made following account opening. Actual APY may be greater or less depending on the date the account is opened. See site for details.
How To Open Account
Open a Savings Builder Account in 3 simple steps!
- Your info. You’ll need to provide your address, phone, email and social security number (or other taxpayer ID).
- Fund your account. Minimum of $100 to open your account. You can transfer funds with electronic transfer, mail in check, or wire.
- Now you’re done. CIT Bank will send a confirmation email.
How To Earn Bonus
New CIT Bank Customers: Offer valid on new Savings Builder accounts opened between February 19, 2020 and May 30, 2020 by consumers who, at account opening, did not have a valid CIT Bank User ID that was created prior to February 19, 2020 (a “New Customer”), provided that the following requirements are met:
- The Savings Builder account must be opened with a valid Promo Code by New Customer. The Promo Code will appear on the enrollment web page for the Savings Builder Account Bonus Promotion.
- The account must be funded with a minimum of: $25,000 for a $150 bonus or $50,000 for a $300 bonus within 15 calendar days from the account opening date (the “Funding Period”).
- All funds used to qualify for bonus eligibility must be new funds. Funds on deposit with CIT Bank, N.A. are ineligible.
- Customer must maintain the required minimum balance for 90 calendar days (the “Review Period”) after the end of the Funding Period.
- Joint Accounts: Enrollment in the promotion will be attributed to the primary account owner. Any additional Savings Builder accounts opened by the primary account owner will not be eligible for the promotion.
Existing CIT Bank Customers: Offer valid for Savings Builder accounts owned or opened by customers with a valid CIT Bank User ID that was created prior to February 19, 2020 (an “Existing Customer”), which Savings Builder accounts are enrolled in the promotion between February 19, 2020 and May 30, 2020. Customers enrolled in a Savings Builder bonus promotion prior to February 19, 2020 are not eligible for this promotion.
Existing Customers with open Savings Builder Accounts must enroll their Savings Builder account into the promotion via the enrollment web page for the Savings Builder Account Bonus Promotion and deposit additional qualifying funds to the enrolled Savings Builder Account and meet the offer requirements set forth below.
Existing Customers without open Savings Builder accounts must open a new Savings Builder account with a valid Promo Code (which appears on the enrollment web page for the Savings Builder Account Bonus Promotion) and deposit qualifying funds to the new account and meet the offer requirements set forth below.
- New account applications that are started but not submitted before the deadline of May 30, 2020 are ineligible for this promotion.
- Qualifying funds with a minimum of $25,000 for a $150 bonus or $50,000 for a $300 bonus must be deposited to the Savings Builder account within 15 calendar days from the existing account enrollment date or the new account opening date as applicable (the “Funding Period”).
- All funds deposited to qualify for bonus eligibility must be new funds. Funds already on deposit with CIT Bank, N.A. are ineligible.
- Customer must maintain the required minimum balance for 30 calendar days (the “Review Period”) after the end of the Funding Period.
- Required Minimum Balance:
- For Existing Customers enrolling a new account who did not have an open Savings Builder account on February 18, 2020, the amount of the required minimum balance that must be maintained is either $25,000 for a $150 bonus or $50,000 for a $300 bonus.
- For Existing Customers (whether enrolling an existing account or a new account) who had an open Savings Builder account on February 18, 2020, to determine whether the required minimum balance is maintained during the Review Period, the end of day balances as of February 18, 2020 in all of a customer’s individual Savings Builder accounts, and any joint Savings Builder accounts in which the customer has ownership, if not already enrolled by another joint owner, will be added together. This includes any Savings Builder account that was open on February 18, 2020 but is closed prior to enrollment. This combined amount will be referred to as the “Starting Balance.” The $25,000 or $50,000 minimum deposit required to earn the desired bonus amount is added to the Starting Balance to determine the minimum combined balance for all the customer’s Savings Builder accounts that must be maintained through the Review Period.
- Joint Accounts: The balance in any joint Saving Builder account that was open on February 18, 2020 will be included in the Starting Balance applicable to the first joint account owner to enroll in the promotion. The Starting Balance also include all of that owner’s other Savings Builder Accounts, which cannot thereafter be separately enrolled in the promotion. The joint account holder who did not enroll the account can separately enroll any existing or new Savings Builder account owned by that non-enrolling account holder. The non-enrolling account holder’s Starting Balance will not include the joint account that was enrolled by the other account holder.
Simply open a new CIT Bank Savings Builder Account and meet certain requirements. To receive the upper APY Rate, open a new Savings Builder account. As an introductory offer, all new CIT Bank Savings Builder Accounts automatically earn the top APY tier for the first month. After the introductory offer has ended, the higher APY Tier can be earned by completing one of following requirements:
- High-balance savers – Maintain an account balance of $25,000
- Build a habit of saving with Tier Boost – Make at least one monthly deposit of $100 or more.
Avoid Monthly Fees
CIT Bank Savings Builder Account: There is no opening, monthly servicing, online transfer or incoming wire fees. There is a $10 per outgoing wire fee on accounts with an average daily balance of less than $25,000.
Why Choose CIT Bank?
From keeping your funds safe to receiving industry accolades, learn more about why CIT Bank is the right choice for helping you reach your savings goals. As a top-10 online bank built on the heritage of CIT Group’s financial services experience, they are committed to grow and preserve your savings safely and securely—they’re FDIC insured.
Your money is safe and sound. 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.
If you’re interested in building up your savings, check out the CIT Bank Savings Builder Account. Their new Savings Builder account gives you an opportunity to earn an outstanding APY rate on your funds. Compared to many other local banks, CIT Bank offers much higher rates. This account is perfect for people and families who are looking to build a habit of savings to those nearing or are in retirement.
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