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  • Make money while
    you make moves.

    Up to
    -
    %
    APY1
    Introducing
    Savings
    Builder
    Maintain
    $25k
    balance
    OR
    Deposit
    $100
    per month
    Start Saving Now
    Member FDIC
  • Two ways to accelerate your savings

    Earn up to 2.25% APY with a savings plan that fits your lifestyle.

    High Balance Savers

    High Balance

    $25K Balance
    Maintain a balance of $25k or more to earn our highest interest rate.

    OR

    Monthly Savers

    Monthly Saver

    $100 Minimum
    $100 minimum to open an account plus, $100 minimum single deposit per month to earn our highest interest rate.

    Feed America

    Give while you save

    For every opening of a Savings Builder account this Giving Tuesday (Nov. 27, 2018) through Dec. 20, 2018, we will donate 100 meals to people in need through our partner Feeding America ®.

    Your hard-earned money deserves a hard-working bank2

    Top 10 Best Online Banks of 2018
     
    Bankrate’s Safe & Sound® Five Star Rating Q2 2017

    Why choose CIT Bank?

    Why choose CIT Bank?

    As a top-10 online bank built on the heritage of over a century of experience from our parent, CIT, we are committed to grow and preserve your savings safely and securely—we’re FDIC insured.

    Choose CIT Bank to help you reach your savings goals.

    Your money is safe and sound

    CIT Bank, N.A. is a member of the Federal Deposit Insurance Corporation (FDIC), which means your deposit accounts are insured up to $250,000 per depositor, for each account ownership category.

    Member FDIC

  • Savings Builder Account FAQs

    How can you offer such high rates?

    As an online-only bank we don't have the expensive overhead that traditional brick and mortar banks have, so we are able to pass along those savings to our customers in the form of higher interest rates for our savings and CD products.

    We also don't charge account opening or closing fees or monthly service fees to receive our stated APY (annual percentage yields).

    What is a Savings Builder account?

    Savings Builder is an Online Savings Account that offers a high interest rate and provides 24/7 digital access.

    What is the minimum to open the Savings Builder account?

    The minimum to open the account is $100.

    Does the Savings Builder have an opening fee or maintenance fee?

    There are no opening, monthly servicing, online transfer or incoming wire fees.

    How do I earn the higher interest rate?

    The higher interest rate can be earned by completing one of following requirements:

    1. Monthly Savers:
      • Make at least one single deposit of $100 or more during the first Evaluation Period which begins on the third business day prior to the end of the month the account was opened.
      • Additional deposits made between the account opening date and the beginning of the first Evaluation Period will not qualify.
      • In order to continue to earn the higher rate, make at least one single deposit of $100 every month.
    2. High Balance Savers:
      • Have an account balance of $25,000 or more on each Evaluation Day. The Evaluation day is the fourth business day prior to the end of the month.

    Does the initial minimum deposit of $100 count towards earning the higher APY tier?

    No. The minimum opening balance does not qualify to earn the higher APY tier. Make an additional deposit of $100 or more during the first Evaluation Period and your account will qualify for the higher tier for the Evaluation Period following the introductory offer. And, all subsequent monthly deposits of at least $100 will qualify you to continue earning the higher APY. 

    How is my APY tier determined?

    Each Evaluation Day the account will be reviewed to verify if you have $25,000 in the account or made a single deposit of $100 or more during the Evaluation Period. If you have met either one of these requirements as of the Evaluation Day, you will earn the higher APY tier in the following Evaluation Period. This process will occur every month.

    How is interest calculated on my Savings Builder account?

    Interest is compounded daily and credited to the account monthly.

    How do I access my funds?

    You can easily access the funds in your account with:

    • free electronic banking transfers (ACH) between your Savings Builder account and an account at another bank;
    • outgoing wire transfers (there is a $10 fee for accounts with balances under $25,000); and
    • by calling us to mail you a check for free.

    The Savings Builder account has a limit of six (6) pre-authorized or automatic transfers or withdrawals, electronic banking transfers to other accounts or similar per statement cycle. However, withdrawal and transfer requests submitted by mail do not count toward the limit, nor do withdrawals requested by telephone if the funds are mailed to you in the form of a check.

  • Open a Savings Builder Account

    1. Enter your info

    You’ll need to provide your address, phone, email and social security number (or other taxpayer ID).

    2. Fund your account

    Minimum of $100 to open your account. You can transfer funds with electronic transfer, mail in check, or wire.

    3. You’re done

    You will receive an email confirmation and you’re ready to go!

    Ready to Open a CIT Bank Savings Builder account?

    $1 helps provide at least 10 meals secured by Feeding America® on behalf of local member food banks.

    1 APY — Annual Percentage Yield is accurate as of November 20, 2018 . Interest Rates for the Savings Builder Account are variable and may change at anytime without prior notice.

    Savings Builder Disclosure

    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. APYs are accurate as of November 20, 2018 . Fees could reduce earnings on the account.

    Interest Tiers

    Tier Balance Requirement APY Interest Rate
    Base < $25,000 -%* 0.995%**
    Upper < $25,000, but with monthly deposit of $100 or more -%*** 2.225%
    Upper ≥ $25,000 -% 2.225%

    *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 2.225% during the Introductory Period and 0.995% thereafter.

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

    Important Definitions
    "Evaluation Day" - The fourth business day prior to the end of a month. The first Evaluation Day will occur at the end of the first full Evaluation Period after account opening.

    "Evaluation Period" - Begins the day after an Evaluation Day and ends at 4:00 pm PT on the next month's Evaluation Day. The first Evaluation Period will begin on the third business day prior to the end of the month of account opening. Additional 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 after the Introductory Period, unless they result in an account balance of $25,000 or more on the first Evaluation Day.

    "Introductory Period" - Begins the day of account opening and continues through the first Evaluation Day.

    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 was opened on December 15, 2018 and funded with an initial deposit of $12,000 via internal transfer. The account earned the introductory Upper Tier interest rate of -% from December 15, 2018 through January 28, 2019. The account holder made a monthly deposit of $50 per month for the remainder of the first year. Because the account has a minimum balance of less than $25,000 and didn't meet the monthly deposit minimum of $100, the account's interest rate moved to the Base Tier interest rate of 0.995% after January 28, 2019. The account earned a blended rate of 1.14% APYE ("Annual Percentage Yield Earned") for the first year.