Frontpage Deal

CIT Bank Savings Builder Account: Earn

2.30% APY
w/ $100/mo Deposit or $25k Balance
+216 Deal Score
349,594 Views
Update: This very popular deal is still available.

CIT Bank is offering their Savings Builder Account with 2.40% APY -> now 2.30% 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 2.30% APY from the day the account is opened through the first Evaluation Day
  • Continue earning 2.30% 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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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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Deal
Score
+216
349,594 Views
2.30% APY

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This comment has been rated as unhelpful by Slickdeals users
Joined Sep 2011
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#31
Quote from spam
:
Anybody knows whether the new CIT a/c opening involves hard credit pull?

TIA
have a CIT account since early LY, no credit pulls
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Our community has rated this post as helpful. If you agree, why not thank ?
#32
Quote from CSIG1001
:
what is chase offering
0.01%, and no that doesn't mean 1%. Smilie
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#33
Quote from triggerhappy007
:
0.01%, and no that doesn't mean 1%. Smilie
so what mafia family runs this banklaugh out loud
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#34
Quote from Al2x
:
have a CIT account since early LY, no credit pulls
thanks..
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#35
Quote from bluekiwi
:
Get 2.45% APY from the day the account is opened through the first Evaluation Day
What is a First Evaluation Day?
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Joined Sep 2011
Price Compare, Always
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#36
Quote from WSDM
:
What is a First Evaluation Day?
end of the month. It is when they determine if your account is still eligible for the higher rates
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#37
Quote from nuffstylez
:
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?
Open the new SAVINGS BUILDER account and transfer your money from your old account to the new account. Very easy to open a new account. They have been coming up with new types of accounts when the interest rate changes. I'm on my 3rd new one. The other 2 have 0 $'s now.
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Joined Dec 2011
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#38
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/
so what would this mean for the consumer? im just now getting into investing
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#39
So I called up today to see if I could switch my account from a High Yield Savings to a Savings Builder account but they said I had to open a new account and either close out the High Yield or keep it also. The nice gentleman on the phone walked me through all the steps doing it online on my computer, took less than 5 min total. I was able to move the funds to the new account and he closed the other one for me.
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#40
I use Marcus: By Goldman Sachs. There are no strings attached and
current APR is 2.25%. These guys are always one of the first to raise
APR!! I also use Discover Bank which follows close behind on similar
APR increases.
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#41
Quote from nuffstylez
:
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?
I've been with CITBank for a few years, and this is one of the drawbacks. They change the product with their best interest rate from time to time and don't tell you. 18 months ago, it was a savings account, then it switched to a money market account, and now it's this new savings account product.

A year ago, I called (I had dropped to the 1.05% product you have) and they upgraded me over the phone to the best account at that time. I called yesterday and they couldn't upgrade me over the phone, I had to create a new account online and transfer everything. But it only takes 1-2 minutes to do.
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Joined Dec 2005
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#42
Quote from godfather927
:
I don't even care much about deposit insurance. I'd still park a bit of money with them even without it.
LOL Robinhood has been a good beginner product for many new investors but depositing money with a firm without insurance is plain stupid. If they do not have insurance, and goes down, you get squat back. With FDIC you get $250K back. You might not have $250K deposited in the bank but even if you h ave 400, not having access to that when you want it is a problem. You can only disrupt certain areas, once you try to disrupt banking which is heavily regulated, you get into big doo doo like they recently did. They made a big mistake with a simple product like savings/checking by saying it's not saving OR checking.. it's a hybrid.. so it doesn't need to get permission from SIPC to say it's SIPC. Applause
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#43
Quote from Superocean
:
LOL Robinhood has been a good beginner product for many new investors but depositing money with a firm without insurance is plain stupid. If they do not have insurance, and goes down, you get squat back. With FDIC you get $250K back. You might not have $250K deposited in the bank but even if you h ave 400, not having access to that when you want it is a problem. You can only disrupt certain areas, once you try to disrupt banking which is heavily regulated, you get into big doo doo like they recently did. They made a big mistake with a simple product like savings/checking by saying it's not saving OR checking.. it's a hybrid.. so it doesn't need to get permission from SIPC to say it's SIPC. Applause
At 3% it's basically like a corporate bond fund. I have some money in those and they aren't insured either.
Sure there's some risk, but it's balanced by the higher yield.
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#44
delete
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#45
Quote from nuffstylez
:
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?H
I have the account too. They asked me to open a new one for better rate. Not a good option to me. I moved to citizenaccess. They have increased my rate few times on the same account 2.25% right now but no hassle Experience with CIT had been good overall other than the rate increase issue. I still recommend citizenaccess if you want to get a fair deal long term.
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