Frontpage Deal

CIT Bank Savings Builder Account: Earn

2.10% APY
w/ $100/mo Deposit or $25k Balance
+220 Deal Score
394,836 Views
CIT Bank is offering their Savings Builder Account with 2.10% APY when you make a qualifying $100+ deposit every month or maintain a $25,000+ balance. Thanks bairdnco24

Note: The minimum to open a account is $100.

Details:
  • Get 2.10% APY from the day the account is opened through the first Evaluation Day
  • Continue earning 2.10% APY by:
    • Maintaining a balance of $25,000 or more
    • OR
    • Making at least one monthly deposit of $100 or more (Initial $100 deposit does not qualify)
  • There are no opening, monthly servicing, online transfer or incoming wire fees
  • Daily compounding interest to maximize your earning potential
  • Member FDIC
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Editor's Notes & Price Research

Written by

Monthly Deposit Terms:

  • Make at least one single deposit of $100 or more during the first Evaluation Period which begins on the third business day prior to the end of the month the account was opened.
  • Additional deposits made between the account opening date and the beginning of the first Evaluation Period will not qualify.
  • In order to continue to earn the higher rate, make at least one single deposit of $100 every month.
  • For additional details refer to the page here. -SaltyOne

Original Post

Written by
Edited January 28, 2019 at 09:59 AM by
2.45% APR if $25,000 balance or monthly deposits of $100 or more.

https://www.cit.com/cit-bank/bank...r-account/
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2.10% APY
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Featured Comments

CIT is not a BBB member, neither is Chase...and Chase has an F rating as well! Smart in many cases since they choose not to pay fees to the BBB. And only 4 complaints against CIT in 3 years is really nothing to be concerned about IMO.

https://www.bbb.org/us/ut/salt-la...complaints
93 Helpful?
They're offering a higher rate probably because they've already adjusted to the Fed's rate increase from a few weeks ago. Other banks will follow shortly as well. If you already have your money in a high-yield savings account that earns 2%+, wait a month or two. No reason to switch to this.
65 Helpful?
Money Market accounts ARE insured by the FDIC.

Money Market funds are NOT insured by the FDIC.

https://www.ally.com/do-it-right/...c-insured/
59 Helpful?

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Joined Sep 2011
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#3
Get 2.45% APY from the day the account is opened through the first Evaluation Day
Continue earning 2.45% APY by:
Maintaining a balance of $25,000 or more
OR
Making at least one monthly deposit of $100 or more
No account opening or maintenance fees


$100 minimum to open the account + $100 or more single deposit per month to keep earning our highest interest rate
Reply Helpful Comment? 11 4
Last edited by bluekiwi January 4, 2019 at 06:21 AM.
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#4
Best rate for savings account ATM
Reply Helpful Comment? 3 5
Last edited by freshsqueezed January 4, 2019 at 07:30 AM.
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#5
Weren't they running a hundred dollar promotion at one point? Any way to stack?
Reply Helpful Comment? 2 2
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#6
I just happened to look at this yesterday...
Merchant is rated an 'F' by the BBB.
https://www.bbb.org/us/ut/salt-la...6-13001677
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01-04-2019 at 07:14 AM
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#8
Quote from smay2121
:
I just happened to look at this yesterday...
Merchant is rated an 'F' by the BBB.
https://www.bbb.org/us/ut/salt-la...6-13001677 [bbb.org]
CIT is not a BBB member, neither is Chase...and Chase has an F rating as well! Smart in many cases since they choose not to pay fees to the BBB. And only 4 complaints against CIT in 3 years is really nothing to be concerned about IMO.

https://www.bbb.org/us/ut/salt-la...complaints
Reply Helpful Comment? 96 3
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#9
Quote from freshsqueezed
:
Great thing about it is the fact it is a savings account so it's FDIC insured up to 250k per person.

Money Market accounts are not FDIC insured.
Money Market accounts ARE insured by the FDIC.

Money Market funds are NOT insured by the FDIC.

https://www.ally.com/do-it-right/...c-insured/
Reply Helpful Comment? 63 4

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#10
is Cit well known bank?
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#11
Quote from dealkk
:
is Cit well known bank?

Citi Bank is a well known bank worldwide. CIT is well known in California. However, as long as the account is FDIC insured then it doesn't matter if the bank only has one employee in a one room office next to a homeless shelter, you're still safe.


https://www.bankrate.com/banks/ci...n/3918898/
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Quote from mitchk
:
Money Market accounts ARE insured by the FDIC.

Money Market funds are NOT insured by the FDIC.

https://www.ally.com/do-it-right/...c-insured/ [ally.com]
I stand corrected. Ty

https://www.fdic.gov/deposit/cove...ed.html
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#13
Got a question, if I already have a savings account with CIT bank but only getting 1.05%, how can I get them to give me the higher rate?
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01-04-2019 at 07:40 AM
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#15
Quote from dealkk
:
is Cit well known bank?
It's publicly traded under ticker CIT - ~$4b market cap and ~$2b revenue. While far from the biggest it's somewhat known.
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