CIT Savings Builder – The Best High Yield Savings for Working Adults

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High Yield Savings for Working Adults: 2.10% Savings Builder from CIT Bank

CIT Bank’s Savings Builder is one of the best online savings accounts available in the U.S. market. It offers 2.10% annual yield, which currently ranks among the highest in the nation. To be eligible for the 2.10% high yield savings, you need to deposit 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.

  • With a CIT Bank Savings Builder Account, you can earn a competitive interest rate and access your money easily.
  • Open an account with $25,000 or more and earn 2.10% APY on your money - one of the top savings rates in the nation.
  • If you don't have $25,000 in your account, you can still earn 2.10% APY by making at least one single deposit of $100 every month. Start with $100 per month and build your habit of savings - all while getting a top rate.
  • It's an ideal online account for saving towards a new experience or a large purchase.
  • Grow your savings faster than at your everyday bank for your first or next dream home.

How to Qualify for 2.10% APY

To open a Savings Builder account, you need to make a minimum deposit of $100. There are two tiers of APYs. The annual yield for the upper tier is 2.10% while the annual yield for the base tier is 1.17%. On the fourth business day prior to the end of a month, if you have made a deposit of $100 or more in the current month, or if you have maintained an account balance of $25,000, your account will qualify for the 2.10% APY of the upper tier for the month. Otherwise, your account will earn the interest of the base tier.

Tier Eligibility Requirement Annual Percentage Yield (APY) Interest (Compounded Daily)
Upper Meeting ONE of the following requirements:

  • Monthly Deposit of $100 or More;
  • Monthly Balance of $25,000 or More;
  • 2.10%* 2.078%**
    Base Monthly Balance is less than $25,000 AND Monthly Deposit is less than $100 1.22%*** 0.995%

    *APY assumes additional qualifying deposits are made each Evaluation Period.
    **Interest Rate is 2.078% during the Introductory Period and 0.995% thereafter.
    ***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.

    Most employers let employees receive paychecks through direct deposit. If you are working, you can set up employer payroll to deposit paychecks to your CIT Savings Builder account directly. In this way, you will automatically qualify for the upper tier of 2.10% APY. As an alternative to payroll direct deposits, you may set up monthly fund transfers of $100 or more from your current bank accounts to qualify for the top-rated 2.10% APY. If you have at least $25,000 to deposit, you will be ready to earn the high interest on your savings without having to set up monthly deposits.

    Your interest will be compounded on a daily basis, which allows you to receive interest earnings every single day. As for the fees, there is no opening, monthly servicing, online transfer or incoming wire fees.

    CIT Bank provides online banking for all customers. 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, which gives you insurance coverage to keep you free of any financial loss of up to 250,000 U.S. dollars.

    CIT Bank – a Banking Brand that You can Trust

    CIT Bank is a U.S.-based bank with over 100 years of history. As of 2018, it is ranked among the Fortune 1000 list of the largest American companies and is also among the largest banks in the United States. It has approximately $50 billion in assets and more than $30 billion of deposits. It is a public company traded on the New York Stock Exchange. Its stock ticker is CIT and it has a market cap of around $5 billion. CIT’s consumer-banking business unit also operates OneWest Bank, one of Southern California’s largest banks. OneWest Bank has over 70 brick and mortar branch offices, primarily in the metropolitan Los Angeles and Orange county. CIT Bank is a bank that you can count on.

    Why We Recommend CIT Bank’s Savings Builder

    In the today’s market, the 2.10% interest on savings from CIT Bank is the best savings account for working adults. CIT Bank is a trustworthy bank. The CIT’s 2.10% APY Savings Builder is accessible to remote customers via its online banking system. In addition, it provides telephone customer service during regular business hours.

    Give yourself a head start on your personal finance by opening a Savings Builder account at CIT Bank. You can keep your money in the account to quietly accrue earnings with the nation’s leading interest rate. It will be a smart investment choice you make to steadily grow your wealth.

    • With a CIT Bank Savings Builder Account, you can earn a competitive interest rate and access your money easily.
    • Open an account with $25,000 or more and earn 2.10% APY on your money - one of the top savings rates in the nation.
    • If you don't have $25,000 in your account, you can still earn 2.10% APY by making at least one single deposit of $100 every month. Start with $100 per month and build your habit of savings - all while getting a top rate.
    • It's an ideal online account for saving towards a new experience or a large purchase.
    • Grow your savings faster than at your everyday bank for your first or next dream home.

    Alternative Savings and CD Offers

    If you can’t maintain an account balance of $25,000 or make a monthly deposit of $100, you may consider the following banking offers. CIT Bank 1.85% Premier High Yield Savings lets you earn an annual yield of 1.85%. CIT Bank 2.05% No-Penalty CD gives you a financial return of 2.05% annually on an 11-month CD with no penalty on early withdrawals, as long as you keep the funds in the account for at least 7 days.

    • Open a No-Penalty 11-Month CD account and get 2.05% APY* with $1,000 minimum deposit.
    • Lock in a great rate for 11 months. If you need your funds prior to the maturity date, you can withdraw your money - including any interest earned - beginning seven days after the funds have been received.* No penalty. No problem.
    • No opening or maintenance fees
    • CIT Bank CDs provide a safe, secure way to grow your savings.
    • The CIT Bank No-Penalty CD gives you get the security of an 11 month CD with no withdrawal penalty seven days or later after funds have been received. Open an account today!

    • Open a Premier High Yield Savings account and get a 1.85% APY (on balances up to $250k).
    • $100 Minimum Opening Deposit
    • No Fees to Open or Maintain
    • Daily Compounding Interest
    • 24/7 Secure Online Banking
    • US-based Customer Service
    • FDIC Insured

    • Open a CD account and get up to a 1.95% APY*
    • Competitive rates
    • Terms up to 5 years
    • Low minimum opening deposit
    • Daily compounding interest
    • No monthly maintenance fees
    • FDIC insured

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