You are using an outdated browser. Please upgrade your browser to use this site.

Save big. Earn big.

Get up to $3001when you open an account

SAVINGS BUILDER

UP TO
-
%
APY2

Earn a $150 or $300 bonus.1
Here's how:

New to
CIT Bank?

Open a Savings Builder account with a minimum of $100 and enter the promo code, Bonus19.

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

Bonus Deposit Requirement
$150 $25,000 to $49,999
$300 $50,000 or more

Maintain the minimum balance requirement for the desired bonus for 90 calendar days.

Let's get started

See important offer terms and conditions below.

Already have an account
at CIT Bank?

Click below to enroll in the promotion.

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
$150 $25,000 to $49,999
$300 $50,000 or more

Maintain the minimum balance requirement for the desired bonus for 30 calendar days.

Let's get started

See important offer terms and conditions below.

Two ways to accelerate your savings

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

High Balance Savers

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

OR

Monthly Savers

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

Savings Builder Bonus Promotion Questions

Which CIT Bank accounts are eligible for the bonus promotion?

The Savings Builder is the only account that is eligible for the bonus promotion.

How does CIT Bank define a New or Existing customer?

New Customer: A customer who has never had an account with CIT Bank.
Existing Customer: A customer with a valid CIT Bank User ID that was created prior to October 4, 2019.

How long will the Savings Builder bonus promotion be available?

The promotion will be available from October 04, 2019 through December 31, 2019.

Once the promotion ends, will I be able to open a Savings Builder account?

Yes; however, it will not be eligible for a bonus See CIT Bank rates here .

What is a “Funding Period”?

The Funding Period is 15 calendar days from the date you open or enroll your Savings Builder account. During this Period, you are required to fund your account with the required deposit to receive your bonus.

What is “New Money”?

Funds from an external financial institution and not currently in your CIT Bank account(s).

What is a “Review Period”?

The Review Period begins after the Funding Period and is the number of calendars days you are required to maintain the minimum balance in your Savings Builder account(s) to receive your bonus. See below for Review Periods:

What is a “Starting Balance”?

The balances of all the customer’s individual Savings Builder accounts, any joint Savings Builder accounts in which the customer has ownership, if not already enrolled in the bonus promotion by another joint owner as of October 3, 2019.

What is a “Combined Balance”?

The balance requirement for existing customers with more than one Savings Builder accounts prior to the start of the bonus promotion. Existing customers will be required to maintain the stated Combined Balance for 30 calendar days after the Funding Period.

When will I receive my bonus?

Once you’ve successfully funded your account with New Money, you will receive your bonus within 1 to 5 business days after the Funding Period. The bonus will be placed on hold during the Review Period and remain on hold for 7 calendar days after the Review Period.

Why will my bonus be placed on hold?

Based on the terms of the bonus promotion, you must maintain the minimum balance requirement during the Review Period. If your balance drops below that required balance, you may forfeit up to $300 in bonus funds.

Can I add more funds to my Savings Builder account during the Review Period to receive more bonus money?

You can make additional deposits to your Savings Builder throughout the life of the account, however you may ONLY add funds to the account during the Funding Period to receive a higher bonus (Maximum $300 bonus per qualified account).

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.

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.

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

1Savings Builder Account Bonus Promotion - Terms of Offer

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 October 4, 2019 and December 31, 2019 by consumers who, at account opening, did not have a valid CIT Bank User ID that was created prior to October 4, 2019 (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 October 4, 2019 (an “Existing Customer”), which Savings Builder accounts are enrolled in the promotion between October 4, 2019 and December 31, 2019.

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:

  • 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 October 3, 2019, 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 October 3, 2019, to determine whether the required minimum balance is maintained during the Review Period, the end of day balances as of October 3, 2019 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 October 3, 2019 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 October 3, 2019 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 1-5 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 November 1, 2019. 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 -%* 0.995%**
Upper < $25,000, but with monthly deposit of $100 or more -%*** 1.833%
Upper ≥ $25,000 -% 1.833%

*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 $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, 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.