CIT Bank is a U.S.-based bank with over 100 years of history. It has approximately $50 billion in assets and more than $30 billion of deposits. It is a public company listed on the New York Stock Exchange. CIT Bank offers high-yield savings and CD accounts. New customers in any part of the United States can open and then manage their CIT Bank savings accounts online. Deposits and withdrawals can be managed via inter-bank electronic transfers, checks, or wire transfers. CIT Bank provides FDIC (Federal Deposit Insurance Corporation) insurance on all bank accounts.
How to grow your savings in the era of low interest? To build your wealth, you should consider CIT Bank's high-interest banking offerings such as 2.40% APY Savings Builder accounts. The 2.40% APY Savings Builder Account is a tiered interest rate account with two flexible options to qualify for higher interest rate of 2.40%. You can choose what works best for you to build up savings.
CIT Bank's Savings Builder is one of the best online savings accounts available in the U.S. market. It offers 2.40% annual yield, which currently ranks among the highest in the nation. To be eligible for the 2.40% high yield savings, you need to either make a deposit of at least $100 each month or maintain an account balance of $25,000. This savings account is designed to be friendly to working families, because most working adults can set up employer payroll to receive paycheck funds via direct deposit to meet the eligibility requirements.
BBVA Compass, formerly Compass Bank, is a U.S.-based bank with over 50 years of history. It has been a wholly-owned subsidiary of Banco Bilbao Vizcaya Argentaria (BBVA), the second largest bank in Spain, since 2007 and operates mainly in Alabama, Arizona, California, Colorado, Florida, New Mexico, and Texas. It has over $86 billion in assets and more than $12 billion of equity. With over 600 branches in the South and West, it is the 30th largest bank in the United States. BBVA Compass offers money market savings, checking, CD accounts.
Most U.S. banks offer next to nothing on interest earnings for savings accounts these days. How to grow savings in the era of low interest rates? If you are unhappy with slow earnings on bank savings accounts, you should consider looking for a better alternative. You can grow your money at a better pace with CIT Bank for reasonable return on your savings. CIT offers FDIC-insured high yield savings accounts with a 1.85% annual interest. It can be your choice of savings deposits so that you won't lose your hard-earned money to inflation.
Most banks are offering extremely low interest on bank accounts these days. The annual interest rates for savings accounts at Chase, Bank of America, Wells Fargo are merely at 0.01% and the national average of interest rates is at 0.06%. However, CIT Bank and BBVA Compass Bank are offering industry-leading interest rates for savings or CD (Certificate of Deposit) accounts. You can open a Savings Builder account to earn 2.40% interest. You can also open a money market savings account at CIT Bank to receive 1.85% annual interest or open a FDIC-insured CD at CIT Bank to receive 2.50% annual interest. BBVA Compass ClearChoice Money Market Account is offering 2.35% annual interest.