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Promotions Offered By Cit Bank

There are so many online banks to choose from. It’s important to research the different options available in order to find the right bank. With almost every online bank offering the same features, it can be difficult to find the best one for your situation. It’s important to compare your options before making a decision on a bank.

All of your online banking services are offered by CIT Bank. They are a great choice for anyone looking to save money. They have several attractive promotions going on right now, which makes them stand out from the pack.

In this post, I will tell you about the current CIT Bank promotions, which include attractive APY rates on CDs, money market accounts, savings accounts, and even a bonus offer exclusively for Millennial Money readers. It’s an excellent way to grow your savings and get the most out of your money.

It is time to dive right in! Let’s start because we have a lot of ground to cover.

CIT Bank: A Brief Overview

The online bank of the group was founded more than 100 years ago. With competitive rates and services, it’s a great choice for individuals looking for an online banking experience. The company has $50 billion in assets and more than 3000 employees. The company has doubled its assets and employee base in the past decade. OneWest Bank has over 60 brick-and-mortar locations spread across southern California.

CIT Bank is a well-established institution that knows what it is doing.

CIT Bank Promotions

The offers are ranked according to what I think are the best deals. Everyone’s financial situation is different, so you might want to prioritize these according to your own needs and preferences. It’s important to remember that the most important thing is to make sure your finances are in order, no matter what approach you take.

1. CIT Bank Money Market Account Offer: 1.55% APY

The annual percentage yield that CIT Bank is offering is hard to beat if you are looking for a money market account. Those looking to save and grow their money can use the money market accounts at CIT Bank. There is a minimum deposit of $100 to get started.

Money market accounts have many of the same features as savings accounts, but they have higher interest rates compared to the national average. Money market accounts have higher minimum deposits than regular savings accounts. The money market account is insured by the Federal Deposit Insurance Corporation. Deposits up to a certain amount are safe and secure. You can deposit checks into your money market account through the app. (Side note: The app is very well rated at 4.6 stars out of 5 in the App Store and 4.1 stars out of 5 in the Google Play Store.)

Money market accounts are not designed for everyday banking transactions. Many savings accounts have a limit of 6 transactions per statement cycle. You need to be aware of the number of transactions you make in order to stay within your limit. If you exceed six transactions, you will be hit with a $10 fee for each transaction, with a maximum monthly fee of $50. It is not the end of the world, but it is something to keep in mind and always try to avoid fees. It is important to take the time and effort to prevent costly fees even though it may be inconvenient.

If you need to deposit or withdraw money every few days, you will want to conduct those transactions in a separate account, like your Chase checking account, and only move money into the money market account that you don’t need to touch for a while. It is possible to enjoy the best of both worlds: easy access to money when you need it, and a higher interest rate than what is available in checking accounts. If you need to save up for a down payment on a house or want to buy a car, a money market account might be a good way to get more interest.

How To Qualify

Deposit at least $100 into a new money market account.

If you have an emergency savings fund or want to build up savings for a big purchase, the money market account might be a good option. Those looking to maximize their savings potential can use the money market account at CIT Bank. Once your funds are in, there is absolutely no risk or effort required from your end, because your cash will grow at higher rates than in your checking or savings accounts. With no penalties or fees, you can access your money at any time.

2. CIT Bank Savings Connect: 4.05% APY

Those looking for maximum flexibility will probably want to check out CIT Bank’s The account offers 4.05% on deposits. Anyone who wants to make their money work for them and grow their savings should open this account.

There is no minimum balance to keep the account in good standing, and no minimum deposit to open an account. It’s an ideal choice for people who want to start saving without having to worry about high deposits or balances.

If you are just starting out on your journey to financial independence, this kind of account may be what the doctor ordered. It is a great way to start building wealth.

3. CIT Bank No-Penalty CD: 4.10% APY

CIT Bank’s The minimum opening deposit for No-Penalty CD is $1,000. No-Penalty CD makes it easy to access your money when you need it, so you can plan for the future without worrying about long-term commitments. Here is how it works. It’s easy to use if you understand the process.

CIT’s No-Penalty CD functions the same way that a traditional CD account does. You get the benefit of being able to withdraw your funds at any time without paying a penalty. Money market accounts are a great option for those looking for flexibility. (That is, as long as the funds you’ve deposited have been in the account for at least seven days.)

Your funds are insured and there are no monthly maintenance fees. If you ever decide to use another financial institution, it’s easy to switch banks. You are locked in for an 11-month term. The 11-month term is not something that should concern you since you can withdraw the funds without a penalty. This investment is even more attractive because of the fact that you can withdraw the funds at any time.

How To Qualify

Sign up for a Deposit at least $1,000 into the CIT Bank No-Penalty CD account. The CIT Bank No-Penalty CD account is a great way to save money and earn a competitive interest rate on your savings.

The No-Penalty CD from the CIT Bank has a slightly lower APY than their Savings Builder and money market accounts. If you’re looking for a low-risk option with no penalty for early withdrawal, the CIT Bank No-Penalty CD is a great choice. Personally, I would probably look into those options first — unless you’re really set on having a CD.

4. CIT Bank Term CDs

There are a number of CD options at the bank. With competitive rates and no monthly fees, it’s easy to maximize your savings. As with all CDs, your funds will be insured by the FDIC, and you will need at least $1,000 to open an account. Your initial deposit can be as low as $500, but subsequent deposits will need a minimum of $250.

Here is a breakdown of the current CD rates.

CD rates provided by Last updated: March 3, 2023
Product APY Min Deposit
CIT Bank 13 Month CD 4.65% APY $1,000
CIT Bank 18 Month CD 4.60% APY $1,000
CIT Bank 6 Month CD 4.15% APY $1,000
CIT Bank 4 Year CD 0.50% APY $1,000
CIT Bank 5 Year CD 0.50% APY $1,000
CIT Bank 2 Year CD 0.40% APY $1,000
CIT Bank 3 Year CD 0.40% APY $1,000
CIT Bank 1 Year CD 0.30% APY $1,000

I don’t really see a point in the 6-month term, because you can earn more in a If the interest rates attached to those accounts stay in the same neighborhood as they are right now, it will be the same time period.

How To Qualify

Sign up for a You have to deposit at least $1,000. With competitive rates and a secure way to save money, it’s a great option for anyone looking to start building their savings. You will earn the advertised rate if you fulfill the opening balance requirement. It is an easy way to increase your savings.

If you won’t need to touch your money for the next two to four years, CIT Bank offers solid CD APYs. It is an excellent option for those looking to save money for a long time. If you’re looking for a place to store your cash that doesn’t have a monthly service fee and where you won’t be tempted to spend it, this could be a great option for you. Also, you’ll enjoy a high rate of interest which can help your savings grow faster!

5. CIT Bank Savings Builder: up to 1.00% APY

CIT Bank Savings Builder is one of my favorite high yield savings accounts (HYSAs). The minimum opening deposit is the same as a money market account, and there are no account opening fees. There are no ongoing fees for maintaining an account. Not bad!

To qualify for the top rate, you need to maintain a minimum monthly balance of $25,000 or deposit at least $100 monthly. You must meet one of the two criteria to be eligible for the top rate. (My two cents: The $100 monthly deposit approach feels more practical, unless you are sitting on a ton of cash and have that much lying around for a rainy day!)

I believe that HYSAs are an essential component of a well-diversified investment portfolio. I think it’s a great way to build and maintain wealth over the long-term. Your funds are insured by the Federal Deposit Insurance Corporation, and they are protected against huge swings in the market. You can be sure that your funds are safe and secure. If you parked your money in traditional savings accounts, you would make less money than you would if you deposited your money into the HYSA. You will be setting yourself up for financial success by investing in your future.

You can request for CIT Bank to mail you a check for free when you need to access your funds. If you need to wire funds domestically, you have to pay a $10 fee, but I don’t see any reason to do that. It is cheaper to use a credit card than it is to use a debit card. If your account balance is over $25,000, the $10 wire fee is not needed. To take advantage of this, you need to confirm the balance on your account with customer service. If it is possible, try to get to $25,000 because you won’t have to worry about depositing money or paying wire fees if you need to wire funds across the country.

How To Qualify

Sign up for a You have to deposit at least $100 into the account. Automatic transfers can be set up to help you reach your savings goals once the initial deposit is made. Depending on how much you deposit, the APY may be different. Changes in the market or inflation could affect your rate of return.

Bottom Line: You can’t go wrong with a CIT Bank’s Savings Builder account. One of the most competitive APYs I have reviewed is offered by them. The entire process of opening and using an HYSA is a breeze because of their outstanding customer service. It seems that the bank’s online presence allows them to keep their costs lower than traditional brick-and-mortar banks, the benefits of which are passed along to customers in the form of higher APYs. It’s an appealing option for those who want a reliable banking experience but don’t want to sacrifice the convenience of online services.

CIT Bank Promo Code (Expired)

New Savings Builder accounts will get a welcome bonus of up to $300. The Savings Builder account has a competitive interest rate. The code “SPRING20” can be entered during the signup process to receive the bonus. Don’t miss out on this offer, it’s only available for a short time.

You need to deposit at least $25,000 to get the $150 bonus. You need to put $50,000 into your account to get the $300 bonus. You have to keep the money in your account for six months to get the bonus.

If you want to get the cash bonus, you have to deposit the required amount into your account within 15 business days and leave it there for 90 days. After the 90-day period is over, the bonus amount will be credited to your account.

If you have the money lying around, why wouldn’t you try to make an extra $300? It’s a great way to make extra money.

Are CIT Bank Promotions Really Worth It?

Allow me to be clear: absolutely. I’m not sure this will work out, so let me be clear. Every time you open a bank account, money market, or CD, you add to your net worth. Your return on investment will be greater if you invest more money in these accounts.

Thanks to daily compounding interest, you can put money away that will grow quickly. It’s a great way to save for the future. Set it and forget it, and watch your money grow over time.

Most of the products of the CIT Banks are very attractive with their APYs. If you are in the market for any of their offerings, they are definitely worth a closer look. You can rest assured that you will be taken care of should you run into any issues, because their customer service is top-notch.

You are one step closer to financial independence when you save money rather than spend it. You can increase your earning potential and build a strong financial portfolio by investing in yourself.

It is not to say that putting away a few hundred dollars or a few thousand will make you rich overnight. It is a good place to begin creating a secure financial future. Discipline is what it’s all about. It takes dedication and a disciplined approach to succeed. You will move closer to your financial goals if you come up with a plan that you are comfortable with and stick to it. I am rooting for you! I believe you have the ability to succeed.

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