CIT Bank Now Offering 2.45% APY On A Savings Account

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CIT Bank Now Offering 2.45% APY On A Savings Account

Interest rates continue to climb upwards. For people who want to earn some interest on their savings, but still want to have access to liquid funds, a savings account is likely the best option.

If you fund a CIT Bank savings account with at least $25,000 you’ll now get 2.45% APY, alternately you can fund it with any amount and make a monthly $100 deposit to qualify.

There is no hard credit inquiry performed for opening a CIT account.

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41 Comments On "CIT Bank Now Offering 2.45% APY On A Savings Account"

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AmEx Personal Savings is at 2.1+. Just moved my money from CIT as they weren’t keeping up with the rates others were offering.


Is 2.1 better than 2.45?


Amex requires 25K deposit?


Don’t need $25K, just schedule a monthly $100 deposit.

PFT Commenter

Embrace Debate




2.1 is better than 2.45


Any good saving accounts for a business?


Nope. Seems like the banks want to rip off businesses for as long as they can get away with it.


Last year CIT matched the rate for a biz account for me. Can’t hurt to call and ask


If I just opened it last time (at 2.25) does it automatically go higher, or I need to open a new account?

Dan is the Man

its automatic, i just checked.


If your existing account is the Savings Builder account, your rate will automatically go up. If you have a different type of account, open a Savings Builder and do an internal transfer to fund it. Just leave a few dollars in the previous account until your next interest payment is posted.

Rachel Litzman

Wow awesome!

jonathan nissanoff

open a new account and transfer funds electronically from other account


Do you have to pay tax on the money you earn?


You will be issued a 1099-INT if it is over a certain amount ($40 annually I think).


Is this America? Why wouldn’t you?


Thanks! opened an account


why does it say up to 2.45 in the application?


If balance is less than 25,000 and you do not do the $100 monthly deposit, the rate is much lower.


Is there a fee for oppening or closing the account
Is there free paper Statements and transfers


I was going to ask if there was a free toaster, not a fee;)

I guess it’s a cultural or generational thing


What is the benefit (difference) to have a Business Account?

Murray Brand

Why is there a need to waste 10 minutes checking pictures of traffic lights, storefronts, busses, mountains in order to sign onto opening a savings account


Welcome to the internet


Who says that they won’t lower the rate to .08% in a month or two? Does anyone know their track record?


That has not happened in my experience. But you can always pull out the money if they do.


What may happen, is that they won’t raise the rates on existing accounts and instead offer a ‘new product’ that has the higher rate for new customers. They have done this in the past, although the last increase 2.25 to 2.45 was applied to existing customers so we’ll see what happens.


I got a dime money market at 2.25%. The difference is you can walk in to the bank and walk out with your money in minutes later. min $2500 checking account and min $25,000 money market.


The site says it is an introductory period – How long is the rate good for? how long is the introductory period??


It only says the introductory period gives the higher interest rate until the first month when, so long as you meet the threshold, you continue with that rate


What are the options for getting the money out?


You can transfer it out at anytime.


Is it possible to (initially) fund with a credit card?
are there other banks that allow it (That won’t charge as cash advance)




mo2, So it sounds like you don’t have the money but you’d borrow the cash from a credit card based on typical 25%- 30% interest in order to open a CD giving you a 2.45% return. Am I following you correctly?




can i sign up online?


Our Homeowners Association has more than $100,000 in a reserve fund, and financial institutions refuse to give us the higher rates allowed to individuals. You would think that the goodwill generated by serving 100 new customers, indirectly, would be worth something.