CIT

High Yield Savings

Earn one of the nation's top rates — 9x the national average. Get 0.50% interest rate from the day the account is opened through the first Evaluation Day.

Investment risk

Low

Min investment

$100

Target return

0.50%

Fees

Overview

A CIT Bank savings account helps you get more from your savings with interest rates for maximum growth. Get a competitive rate with a Savings Connect account and earn even more when you make a qualifying deposit in your linked eChecking account. Savings Connect is a tiered interest rate account that offers a higher interest rate to customers with a linked Qualifying eChecking account to which periodic Qualifying Deposits are made.

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Why Invest

Interest compounded daily
No account opening or maintenance fees
Deposit checks remotely and make transfers with the CIT Bank mobile app

How you make money

Deposit your money into the high yield savings account and start earning 0.449% interest from the day the account is opened. The interest is compounded daily and there are no account opening or maintenance fees. To keep the 0.45% APY you must have a $100 recurring monthly deposit or have a balance of over $25,000.

How CIT makes money

There are no fees to use the CIT High Yield Savings Account. As a bank, CIT makes money through the interest they make on loans and other banking fees.

Is it Safe?

CIT Bank, N.A. is a member of the Federal Deposit Insurance Corporation (FDIC), which means your deposit accounts are insured up to $250,000 per depositor, for each account ownership category.

Things to know

You make money onInterest
Fees0%
Payout frequencyMonthly
Term of investmentZero
LiquidityEasy
Open toAll Investors

Company

Country availabilityUS only
Assets under managementUnknown
Established2000
Mobile ApplicationIOS, Android

Investment Return Calculator

Calculate your estimated return to reach your investment goals.

Investment amount

Target return

Term

years

Annual fees

Additional contributions

Frequency

Amount invested

$7,000

Total fees

Value after fees

$7,115.85

Any references to past performance, regarding financial markets or otherwise, do not indicate or guarantee future results.

Forward-looking statements, including without limitations investment outcomes and projections, are hypothetical and educational in nature. The results of any hypothetical projections can and may differ from actual investment results had the strategies been deployed in actual securities accounts.