CIT Bank Savings Account, up to $300 Bonus
CIT Bank is offering a bonus of $150 or $300 and a 1.75% APY on its Savings Builder Account. The offer is for both new and existing customers. The rate is a competitive one for large balances. And you are also getting a cash bonus. Let’s check the details.
New Customers
Open a Savings Builder account with a minimum of $100 and enter the promo code, Bonus20. Fund your account within 15 calendar days of the open date to meet one of the following balance requirements.
| Bonus | Deposit Requirement | ||
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Maintain the minimum balance requirement for the desired bonus for 90 calendar days.
The $25K balance also qualifies you for the 1.75% APY.
Existing Customers
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 | ||
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Maintain the minimum balance requirement for the desired bonus for 30 calendar days.
The $25K balance also qualifies you for the 1.75% APY.
Key Terms
- Promotion valid between February 19, 2020 and May 30, 2020
- 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.
Conclusion
Bank rates have been going down lately, and 1.75% APY is close to the best rates you can get nowadays. CIT Bank also has a Money Market account that offers 1.80% APY, but no bonus.(But to be fair neither account is the absolute highest.) Previously the bonus for the Savings Builder account was $100 and $200, so it is now better at $150 and $300.
This promotion does have a somewhat high deposit requirement, but between the interest rate and the $300 bonus it could make sense given you don’t have to leave it in the account for too long. The fact that this is also open to existing customers is a win as well.
Are you a current CIT Bank customer? Are you going to sign-up? Share your thoughts or experiences in the comments!
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