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Savings Builder Up to-
%
APY1

Minimum balance of $25,000 or $100 monthly deposit. $100 minimum opening deposit.

Benefits and features

Save more and earn more with the Savings Builder.

  • Earn one of the nation's top rates — over 20x the national average2
  • Get 1.833% interest rate from the day the account is opened through the first Evaluation Day
  • Continue earning up to -% APY by:
    • Maintaining a balance of $25,000 or more
      OR
    • Making at least one monthly deposit of $100 or more
  • No account opening or maintenance fees
  • Daily compounding interest to maximize your earning potential
  • A limit of six transactions per statement cycle3
  • Deposit checks remotely and make transfers with the CIT Bank mobile app

Ready to meet the Savings Builder?

Learn about this online-only savings account and discover how you can earn higher rates

GOBankingRates' 10 Best Online Banks of 2019

Bankrate’s Safe & Sound® Rankings

Your hard-earned money
deserves a hard-working bank4

Why a Savings Builder account is the right choice for your savings goals

Start a college savings fund

In-state college or private university tuition costs will continue to rise. Start saving for higher education today.

Save to buy a home

Just getting started or getting close to reaching your down-payment goal? Grow your funds with competitive rates—and then access them easily when you find your dream home.

Open a Savings Builder account in 3 simple steps
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
Now you're done

We'll send a confirmation email.

Calculate both time and money

Use this calculator to find out how much interest you can earn with a Savings Builder account.

Try our calculator

Earn more money on your money

Get the details on why a tiered-rate Savings Builder account is great choice for short- or long-term savings.

Read more
Build your savings two ways

Open an account today.

1APY — Annual Percentage Yield is accurate as of November 8, 2019. Interest Rates for the Savings Builder Account are variable and may change at any time 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. Fees could reduce earnings on the account.

*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 1.833% 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 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 November 15, 2019 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, January 28, 2020.

    The First Evaluation Period for this account begins on December 27, 2019 and ends on the First Evaluation Day, Tuesday, January 28, 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, December 27, 2019 through January 28, 2020.

    Member FDIC - Teal text

    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.