Available nationwide, CIT Bank is offering a 2.30% APY rate when you open a Savings Builder Account. To earn this competitive rate, simply meet the qualifying balances of at least $25k or for all balances with monthly deposit of $100 or more.
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About CIT Bank
As a well established online financial institution, CIT Bank has been serving countless consumers since 2008. Being an industry leader in middle market lending as well as providing a vast array of financial solutions, you are able to get the most out of your money.
In addition, CIT Bank is a great choice for those looking to earn a premium rate while having 24/7 access to your account. Interest is compounded daily, and your eligible balance is FDIC insured.
I’ll review CIT Bank Savings Builder below.
CIT Bank Savings Builder 2.30% Rate
To earn the current CIT Bank Savings Builder rate, be sure to provide an opening deposit of $100. That is all it takes to enjoy the current 2.30% APY rate.
- Account Type: Savings Builders Account
- Interest Rate: 2.30% APY
- Availability: Nationwide
- Expiration Date: None
- Credit Inquiry: Soft Pull
- Opening Deposit: $100
- Credit Card Funding: None
- Monthly Fee: None
- Early Termination Fee: None
- Insured: FDIC insurance up to $250K per account
(Visit CIT Bank for more details)
American Express Personal Savings Account - You earn 1.90% interest rate along with no minimum deposits or monthly fees. Amex Personal Savings has been my favorite Hub account for the past 5 years. Using this account to Pull/Push your money is absolutely necessary when you have many accounts. Here's why:
*No dollar limitations for ACH transfers - When you find a top bank rate account, you don't want to be limited to just $5K or $10K transfers. Amex Savings will let you transfers as much as you want whether you are pulling or pushing money from and to an external bank account.
*1 to 2 business days ACH transfers speed - With top-notch user interface, you get your money to another external account or pull money from another bank account within a day or two.
*No loss of interest during transfers - On the day you initiate your transaction on the Personal Savings website, the funds will be reflected in your Current Balance and begin earning interest.
Some other features from American Express Personal Savings include Free Wire Transfers, 3 maximum linked accounts, and maximum 6 ACH withdrawals per month.
Savings account offers are frequently updated. Find the best nationwide Savings/Money Market rates here, and the best Savings account bonuses here. The Axos UFB High Yield Savings and CIT Bank Savings Builder accounts offer great rates available nationwide. The Discover Online Savings and Chase SavingsSM account have nice sign-up bonuses.
|Discover Bank Online Savings||2.00% APY + $200 Cash||Review|
|Simple||2.02% APY + $500 Cash||Review|
|Betterment Everyday Savings||2.39% APY||Review|
|CIT Bank Savings Builder||2.30% APY||Review|
|UFB Direct High Yield Savings||2.25% APY||Review|
ACH Capabilities & Limits
|ACH Type||Speed||Daily $ Limit||Monthly $ Limit||Notes|
|Push||1-2 days||$2,000,000||$12,000,000||10 linked accounts|
- The number of ACH withdrawals are limited to six per statement cycle
- CIT Bank offers free outgoing wire transfers for accounts with balances of at least $25k.
- There is a $10 fee per outgoing wire transfer fee for accounts with balances under $25k.
- Incoming wire transfers are fee free.
Editor’s Note: Help us with the table above in the comment section if you have experience with ACH capabilities.
How to Earn CIT Bank Rate
- Visit CIT Bank Savings Builder page to submit an application.
- Input your info – Provide your name, address, phone, email and social security number or Tax ID.
- Fund the account – Transfer funds electronically from an internal account here or an external account at another bank.
- Earn the competitive APY rate for meeting the balance requirement.
|Tier||Monthly $ Limit||APY Rate|
|Base||$0 – $25,000||1.26%|
|Upper||$0 – $25,000 with monthly deposit of $100 or more||2.30%|
*Rates as accurate as of 02/01/2019
Why You Should Sign Up For This Account
- Extremely Easy to Open an Account: To open an account you must be a U.S. citizen or resident alien that is 18 years or older, you must have a U.S. address, a Social Security number, and a driver’s license or state-issued ID, and you must have a check or bank account number to electronically transfer money into your new CIT Bank account.
- Low Minimum Deposit: As long as you open your CD with at least $1,000, you will earn interest at the highest rate in the country.
- Competitive Rate: CIT Bank’s CD account earns more than the national average. Interest is also compounded daily and credited monthly.
- FDIC Insured: You can feel confident knowing that your funds are insured up to the maximum amount of $250,000.
Definitely take a look at the current CIT Bank Savings Builder account to earn the current 2.30% APY. The fact that is this an industry leading rate while providing you with tiered balance option makes this savings account all worthwhile. Let us know about your experience with this bank and comment below.
For more bank offers, see the complete list of Best Bank Rates!
Check back often to see the latest info on CIT Bank Savings Builder.
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