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Save big. Earn big.

Get up to $2001when you open an account

SAVINGS BUILDER

UP TO
-
%
APY2

Earn a $100 or $200 bonus.1
Here's how:

New to
CIT Bank?

Fund your account within 15 calendar days of the open date to meet one of the following balance requirements.

Bonus Deposit Requirement
$100 $25,000 to $49,999
$200 $50,000 or more

Maintain the minimum balance requirement for 90 calendar days following the end of the 15-day Funding Period to be eligible for the bonus.

Example: Funding Period of 15 days + Review Period of 90 days = Eligible for Bonus

See important offer terms and conditions below.

Already have an account
at CIT Bank?

Add funds within 15 calendar days of your enrollment with new money from an external financial institution to meet one of the following deposit requirements.

Bonus Additional Deposit Requirement
$100 $25,000 to $49,999
$200 $50,000 or more

Maintain the minimum balance requirement for 30 calendar days following the end of the 15-day Funding Period to be eligible for the bonus.

Example: Funding Period of 15 days + Review Period of 30 days = Eligible for Bonus

See important offer terms and conditions below.

This promotion ended on February 17, 2020. See below for program disclosures.
If you are enrolled in the promotion, click here and sign in to be directed to a page with your current status. Thank you.

1Savings Builder Bonus Promotion Terms of Offer

These Terms of Offer govern the Savings Builder Account Bonus Promotion.

Limited-time offer. One bonus per customer. See below for rules applicable to joint accounts.

New CIT Bank Customers: Offer valid on new Savings Builder accounts opened between February 19, 2020 and May 30, 2020 by consumers who, at account opening, did not have a valid CIT Bank User ID that was created prior to February 19, 2020 (a “New Customer”), provided that the following requirements are met:

  • The Savings Builder account must be opened with a valid Promo Code by New Customer. The Promo Code will appear on the enrollment web page for the Savings Builder Account Bonus Promotion.
  • The account must be funded with a minimum of: $25,000 for a $150 bonus or $50,000 for a $300 bonus within 15 calendar days from the account opening date (the “Funding Period”).
  • All funds used to qualify for bonus eligibility must be new funds. Funds on deposit with CIT Bank, N.A. are ineligible.
  • Customer must maintain the required minimum balance for 90 calendar days (the “Review Period”) after the end of the Funding Period.
  • Joint Accounts: Enrollment in the promotion will be attributed to the primary account owner. Any additional Savings Builder accounts opened by the primary account owner will not be eligible for the promotion.

Existing CIT Bank Customers: Offer valid for Savings Builder accounts owned or opened by customers with a valid CIT Bank User ID that was created prior to February 19, 2020 (an “Existing Customer”), which Savings Builder accounts are enrolled in the promotion between February 19, 2020 and May 30, 2020. Customers enrolled in a Savings Builder bonus promotion prior to February 19, 2020 are not eligible for this promotion.

Existing Customers with open Savings Builder Accounts must enroll their Savings Builder account into the promotion via the enrollment web page for the Savings Builder Account Bonus Promotion and deposit additional qualifying funds to the enrolled Savings Builder Account and meet the offer requirements set forth below.

Existing Customers without open Savings Builder accounts must open a new Savings Builder account with a valid Promo Code (which appears on the enrollment web page for the Savings Builder Account Bonus Promotion) and deposit qualifying funds to the new account and meet the offer requirements set forth below.

Offer Requirements:

  • New account applications that are started but not submitted before the deadline of May 30, 2020 are ineligible for this promotion.
  • Qualifying funds with a minimum of $25,000 for a $150 bonus or $50,000 for a $300 bonus must be deposited to the Savings Builder account within 15 calendar days from the existing account enrollment date or the new account opening date as applicable (the “Funding Period”).
  • All funds deposited to qualify for bonus eligibility must be new funds. Funds already on deposit with CIT Bank, N.A. are ineligible.
  • Customer must maintain the required minimum balance for 30 calendar days (the “Review Period”) after the end of the Funding Period.
  • Required Minimum Balance:
    • For Existing Customers enrolling a new account who did not have an open Savings Builder account on February 18, 2020, the amount of the required minimum balance that must be maintained is either $25,000 for a $150 bonus or $50,000 for a $300 bonus.
    • For Existing Customers (whether enrolling an existing account or a new account) who had an open Savings Builder account on February 18, 2020, to determine whether the required minimum balance is maintained during the Review Period, the end of day balances as of February 18, 2020 in all of a customer’s individual Savings Builder accounts, and any joint Savings Builder accounts in which the customer has ownership, if not already enrolled by another joint owner, will be added together. This includes any Savings Builder account that was open on February 18, 2020 but is closed prior to enrollment. This combined amount will be referred to as the “Starting Balance.” The $25,000 or $50,000 minimum deposit required to earn the desired bonus amount is added to the Starting Balance to determine the minimum combined balance for all the customer’s Savings Builder accounts that must be maintained through the Review Period.
  • Joint Accounts: The balance in any joint Saving Builder account that was open on February 18, 2020 will be included in the Starting Balance applicable to the first joint account owner to enroll in the promotion. The Starting Balance also include all of that owner’s other Savings Builder Accounts, which cannot thereafter be separately enrolled in the promotion. The joint account holder who did not enroll the account can separately enroll any existing or new Savings Builder account owned by that non-enrolling account holder. The non-enrolling account holder’s Starting Balance will not include the joint account that was enrolled by the other account holder.

Bonus Payment

Bonus will be credited to the account 1-7 business days after the end of the Funding Period. A hold will be placed on the bonus amount during the applicable Review Period plus 7 calendar days.

At the end of the applicable Review Period, if any of the terms of the promotion have not been met, the bonus amount will be forfeited, and the amount of the bonus will be debited from the account within 7 calendar days from the end of the applicable Review Period. If a $300 bonus was credited to the account and the required minimum balance of $50,000 was not maintained but a balance of at least $25,000 was maintained, only $150 will be debited from the account.

Bonus payments are reported as interest earned on IRS form 1099-INT for the calendar year in which it was paid. Recipient is responsible for any applicable taxes.

2Savings Builder Disclosure

APY — Annual Percentage Yield is accurate as of June 30, 2020. Interest Rates for the Savings Builder Account are variable and may change at any time without prior notice.

Savings 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. Fees could reduce earnings on the account.

Interest Tiers

Tier Balance Requirement APY Interest Rate
Base < $25,000 -%* 0.747%**
Upper < $25,000, but with monthly deposit of $100 or more -%*** 0.946%
Upper ≥ $25,000 -% 0.946%

*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 0.946% during the Introductory Period and 0.747% 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 third business day prior to the end of the month after the month of account opening and ends at 4:00 pm 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.

Example: A Savings Builder account opened on July 15, 2020, and funded with an initial deposit of $12,000 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, September 25, 2020.

The First Evaluation Period for this account begins on August 27, 2020 and ends on the First Evaluation Day, Friday, September 25, 2020. 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, August 27, 2020 through September 25, 2020.