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

All opinions expressed below are user generated and the opinions aren’t provided, reviewed or endorsed by any advertiser or DansDeals.

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Guy

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.

Dan

Is 2.1 better than 2.45?

Bostener

Amex requires 25K deposit?

Dan

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

PFT Commenter

Embrace Debate

Bill

2.1 is better than 2.45

Chaim

Any good saving accounts for a business?

Mark

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

Ari

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

Dovy2

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.

Linda

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

Wondering

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

Shaul

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

R

Is this America? Why wouldn’t you?

yankel

Thanks! opened an account

chaz

why does it say up to 2.45 in the application?

Linda

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

eli

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

yy

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

I guess it’s a cultural or generational thing

moshe

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

R.M.

Welcome to the internet

sussen

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

Dan

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

Eli

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.

Aviva

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

anonymous

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

Jayb

What are the options for getting the money out?

Dan

You can transfer it out at anytime.

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