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Learning, Sharing, and Teaching => Investor Alley => Topic started by: MTBmustachian on January 08, 2019, 10:41:58 AM

Title: CIT Bank Savings Builder account now up to 2.45% APY
Post by: MTBmustachian on January 08, 2019, 10:41:58 AM

CIT Bank just launched a new account called "Savings Builder" a few months ago that requires either a monthly deposit of $100 or more, or $25,000 in funds, to get the rate. Initially it was offering 2.25% APY. I already had a different account with CIT so I opened a Savings Builder. And now, the APY is up to 2.45%!

https://www.cit.com/cit-bank/tiered-savings-account-savings-builder-direct/

Pretty impressive when you compare it to bond fund rates right now.

Title: Re: CIT Bank Savings Builder account now up to 2.45% APY
Post by: xpauliber on January 11, 2019, 12:02:20 PM

Thanks for the heads up!  Already had a money market account with them and just swept all my funds over to the new Savings Builder account.  I automatically had funds going to the money market account every month earning 1.85%.  Win win!

Title: Re: CIT Bank Savings Builder account now up to 2.45% APY
Post by: Car Jack on January 11, 2019, 12:17:18 PM

I actually had a Savings Builder account at CIT with $25k in it at 2.25%.  Then Redneck upped it's normal, unrestricted rate to 2.25%.  I ended up needing the money, so pulled it all out of CIT, and once I could build up again, just stuck it in Redneck.  Redneck caps at $50k now, and my next go-to is Ally.

Yah, I have a lot of accounts floating around out there with nothing in them.