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CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon May 22, 2017 10:20 am
by willthrill81
I'm not personally excited about a savings account offering 1.15% APY, but if one is considering opening a new account, it seems to be one of the highest rates available out there right now. Plus, if your average monthly balance is at least $15k for three months, you get an extra $100 bonus; if the average is $100k, you get $250; if the average is $300k, you get $400.

To get the bonus, the account must be opened and funded by June 30th.

https://bankoncit.com/savenow-direct/?c ... fgodzOwPjQ

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon Jun 05, 2017 2:07 pm
by wstrdg
Note that the bonus may not post until 45 days after you complete qualification (three full statement-months). You will need to keep the account open until the bonus posts, but you can withdraw the bulk of your funds. Just keep a de minimis amount in the account to keep it alive.

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon Jun 05, 2017 2:11 pm
by SrGrumpy
There's something a bit off with these people. I took advantage of the deal when their rate was 1.05%. Now they raised it to 1.15%, but not for me. Seems I am locked in at 1.05%. It's all small potatoes, but it doesn't make me want to stick around after I get my $100.

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon Jun 05, 2017 2:29 pm
by willthrill81
wstrdg wrote:Note that the bonus may not post until 45 days after you complete qualification (three full statement-months). You will need to keep the account open until the bonus posts, but you can withdraw the bulk of your funds. Just keep a de minimis amount in the account to keep it alive.
Good call.

I'm waiting for the Capital One 360 bonus right now ($200). Once I get that, I might go for this one as it's fairly simple to get, although definitely more time consuming.

Before I do, I'll probably check to see if my wife can take out her own Capital One 360 money market account and also get the $200 bonus.

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon Jun 05, 2017 2:31 pm
by amateurnovice
Synchrony raised their savings rate to 1.15% a few days ago, no minimum balance or fees.

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon Jun 05, 2017 2:53 pm
by willthrill81
amateurnovice wrote:Synchrony raised their savings rate to 1.15% a few days ago, no minimum balance or fees.
And no bonus. For a balance of $15,000, a $100 bonus is equivalent to .67% annual interest for the first year, besides the actual interest rate.

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon Jun 05, 2017 8:34 pm
by student5
For those of us with a pre-existing cit savings account at 1.05%, you have to go online to open a new cit savings account in order to upgrade to the 1.15%. It does not happen automatically.

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Mon Jun 05, 2017 10:44 pm
by mega317
willthrill81 wrote:
amateurnovice wrote:Synchrony raised their savings rate to 1.15% a few days ago, no minimum balance or fees.
And no bonus. For a balance of $15,000, a $100 bonus is equivalent to .67% annual interest for the first year, besides the actual interest rate.
It only takes 3 months to earn the bonus so more like 2.7%

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Sun Jul 09, 2017 8:42 am
by blueberry
student5 wrote:For those of us with a pre-existing cit savings account at 1.05%, you have to go online to open a new cit savings account in order to upgrade to the 1.15%. It does not happen automatically.
They now have an account offering 1.30 on up to 100k, though might lose a bonus from previous promos by moving same money to this new account.

-bb

Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Posted: Sun Jul 09, 2017 9:31 am
by SrGrumpy
Run your $15k through Discover first (by July 17). Get their $100 bonus after a few days, while earning 1.10%. Then do CIT.