CIT Bank Savings Account, up to $200 Bonus
CIT Bank is offering a bonus of $100 or $200 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.
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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.
MtM Analysis
Bank rates have been going down lately, and 1.75% APY is close to the best rates you can get nowadays. (But to be fair it isn’t the absolute highest.) CIT Bank has actually kept the same APY since the last time they offered this bonus. But the cash amount has been reduced.
This promotion does have a somewhat high deposit requirement, but between the interest rate and the $200 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 in the comments!
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