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

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willthrill81
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CIT Bank offering 1.15% savings account and up to $400 bonus

Post 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
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
wstrdg
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Re: CIT Bank offering 1.15% savings account and up to $400 bonus

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

Post 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.
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willthrill81
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Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Post 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.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
amateurnovice
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Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Post by amateurnovice »

Synchrony raised their savings rate to 1.15% a few days ago, no minimum balance or fees.
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willthrill81
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Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Post 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.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings
student5
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Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Post 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.
mega317
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Re: CIT Bank offering 1.15% savings account and up to $400 bonus

Post 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%
https://www.bogleheads.org/forum/viewtopic.php?t=6212
blueberry
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Re: CIT Bank offering 1.15% savings account and up to $400 bonus

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

Post 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.
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