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  • personal-savings-illustration-of-bank

    Turn your everyday savings into so much more

    A CIT Bank savings account helps you get more from your savings with interest rates for maximum growth. See how we can help you reach your goals.

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  • Savings Builder

    Experience two ways to save with our Savings Builder account.

    Up to-
    %
    APY1
    Minimum balance of $25,000 or $100 monthly deposit.

    Minimum Opening Deposit

    $100

    Benefits

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    FDIC Insured 3
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    No account opening or maintenance fees
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    Daily compounding interest to maximize your earning potential
    Premier High Yield Savings

    Start growing your savings and reach your goals faster. 

    -
    %
    APY2

    Minimum Opening Deposit

    $100

    Benefits

    check
    FDIC Insured 3
    check
    No fees to open or maintain account
    check
    Daily compounding interest to maximize your earning potential
  • 1Savings Builder is a tiered interest rate account. Tier levels are subject to change without notice. Interest rates and Annual Percentage Yields (APYs) are variable and may change without notice. Minimum to open account is $100. APYs are accurate as of January 2, 2019. Fees will reduce earnings on the account.

    Savings Builder Interest Tiers

    TierBalance RequirementAPYInterest Rate
    Base < $25,000 -%*0.995%**
    Upper < $25,000, but with monthly deposit of $100 or more -%***2.421%
    Upper ≥ $25,000 -% 2.421%

    *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.

    **Interest Rate is 2.421% during the Introductory Period and 0.995% thereafter.

    ***APY assumes additional qualifying deposits are made each Evaluation Period.

    Important Definitions

    • "Introductory Period" - Begins the day of account opening and continues through the first Evaluation Day.
    • "First Evaluation Day" - Will occur at the end of the First Evaluation Period after account opening.
    • "First Evaluation Period" - Begins on the first business day of the month after account opening and ends at 4:00 pm on the next month’s Evaluation Day, except for accounts opened on the last two business days of a month. For accounts opened on the last two business days of a month, the First Evaluation Period will begin on the first business day of the second month after account opening, and end at 4:00 p.m. PT on the next month’s Evaluation Day.

    Following the Introductory Period, the following definitions apply:

    • "Evaluation Period" - Begins the day after an Evaluation Day and ends at 4:00 pm PT on the next month's Evaluation Day.
    • "Evaluation Day" -The fourth business day prior to the end of a month.

    Introductory Interest Rate
    During the Introductory Period, all new Savings Builder accounts will be paid the Upper Tier interest rate. After the Introductory Period ends, accounts will be evaluated on the first Evaluation Day to determine the interest rate to be paid for the next Evaluation Period.

    Monthly Determination of Interest Rate
    On each Evaluation Day the interest rate applicable for the next Evaluation Period will be determined. Accounts with an end-of-day balance of at least $25,000 on the Evaluation Day or with at least one deposit of $100 or more that posts to the account during the Evaluation Period will earn the Upper Tier interest rate during the next Evaluation Period. Accounts with an end-of-day balance less than $25,000 on an Evaluation Day without a deposit of $100 or more that posts to the account during the Evaluation Period will earn the Base Tier interest rate for the next Evaluation Period. This process will occur every month.

    Deposits Made Prior to the First Evaluation Period
    Deposits of $100 or more made between the account opening date and the start of the First Evaluation Period will not count for purposes of determining the interest rate on the First Evaluation Day, unless they result in an account balance of $25,000 or more on the First Evaluation Day.

    Example:
    A Savings Builder account opened on January 12, 2019 and funded with an initial deposit of $5,000 would earn the Upper Tier interest rate during the Introductory Period, which begins on the account opening date and ends on the First Evaluation Day, February 25, 2019.

    The First Evaluation Period for this account begins on February 1, 2019 and ends on the First Evaluation Day, February 25, 2019. With a balance less than $25,000, in order to continue earning the Upper Tier interest rate during the next Evaluation Period, the customer must make at least one deposit of $100 or more during the First Evaluation Period, February 1 – 25, 2019.

    Important: Deposits made prior to February 1, 2019 will not count for purposes of determining the interest rate for the next Evaluation Period unless they result in an account balance of $25,000 or more on February 25, 2019.