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Savings Builder Account

Are you looking for a savings account that gets you a great return on your money?

Meet the CIT Bank savings builder account. A smart way for families to build a safer financial future.

In this review, we’re going to shed some light on the features, benefits, and functions of this savings account. Make sure to keep reading all the way until the end so you can get our recommendation.

This post may contain affiliate links. Please read full disclosure here.

Ok, let’s get started.


Why Open A Savings Account?

Savings is super important. Not only does it give you peace of mind in the event the unexpected arises, but it’s a hub for your money to sit and grow as you work toward your goals of:

  • Saving for your child’s education
  • Building savings for the down payment on a house or car
  • Growing an emergency savings account
  • Saving for retirement
  • And, more!


Savings is so crucial but unfortunately, according to a recent article from CNBC, 65% of Americans are saving little to nothing.


What happens if the water heater breaks in your house?

You get into a car accident and need to pay the auto insurance deductible?

Or, you have to get an emergency root canal (a four-figure expense, easily)?

These are everyday things that happen to everybody. And when they do, you don’t want to be left struggling, wondering how you’re going to come up with the money. 

This is why you should save!

And, with so many savings opportunities around you, there’s really no reason why you shouldn’t be. Every little bit helps and a small effort can go a long way.



Do these ideas peak your interest?

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What’s Important in a Savings Account?

Now that you’ve decided to save, what features are important to look for in a savings account?

You might think all savings account are designed equally, but they aren’t.

You should look at things like interest, fees, policies, and more, to determine if the savings account is right for you and your family.

This article is going to review the CIT Bank savings builder account. Keep reading to learn if it’s a good fit for you.


What is the CIT Bank Savings Builder Account?

The goal of the CIT Bank savings builder account is to help you save more and earn more with their savings account.

Check out the features:


  • Earn one of the nation’s top interest rates — 23x the national average2
  • Get 2.078% interest rate from the day the account is opened through the first Evaluation Day
  • Continue earning up to 2.10% APY by:
    • Maintaining a balance of $25,000 or more
    • Making at least one monthly deposit of $100 or more
  • No maintenance fees
  • No account opening fees
  • Daily compounding interest to maximize your earning potential
  • Maximum limit of six transactions per statement cycle3
  • Remotely deposit checks and make transfers with the CIT Bank mobile app

They appreciate that you worked hard for your money and so they want to work hard for you, delivering all these benefits to help you grow your money. 

They believe a savings builder account is a right choice for your savings goals, whatever they may be.


CIT Bank Login

Getting started is easier than ever with their 3-step account opening process:

Step 1: Enter your information

You’ll be providing your personal information here, like your name, address, phone number, email address, and social security number.

Step 2: Fund your account

In this step, you’ll be funding your account by depositing a minimum of $100 to open the account.There are various ways to fund the savings account, including:

  • Electronic transfer
  • Wire transfer
  • Mailing a check

Step 3: Done!

All done! Get your confirmation email and you’re ready to go!


CIT Bank Locations

CIT Bank is a top 50 bank, serving consumers virtually.

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There is no other flexibility than banking conveniently online, from the comfort of home. 

  • Login to check your balances
  • Manage all your accounts from your computer
  • Work with CIT banking representatives to get your questions answered


CIT Bank offers a ton of helpful resources to help you manage your finances with ease.

Online Banking

Convenient online banking at your fingertips where you can view and download bank statements, create banking reports, receive and manage account alerts, send secure messages and much more.



A user-friendly mobile app to help you manage your money on the go, available on Google Play and Apple App Store.



Access to a huge selection of calculators to help with savings, retirement, and debt management.



CIT Bank is a Zelle partner, which means you will be able to send and receive money easily using Zelle app.

Plus, additional resources to help you improve your financial health and make smart money decisions.


CIT Bank Promo Code

If you’re looking for CIT Bank promo codes, they have several available, to help you do multiple things, from opening a high yield savings account to earning over 2% APY on a savings builder high yield savings account.


Interest Rates and Fees

The CIT Bank savings builder account offers an interest rate of up to 2.10% APY with a minimum balance of $25,000 or $100 monthly deposit.


They have an easy to understand 3-tier setup for interest:

Base Tier

The base tier has the lowest minimum balance requirement, under $25,000.  It offers a 1.22%* APY and 0.995%** interest rate.

Upper Tier

This tier has a minimum balance requirement under $25,000 as well but, with a monthly deposit of $100 or more (balance requirement). It has a 2.10%*** APY and 2.078% interest rate.

Upper Tier

This final tier is for balances at or above $25,000 and offers 2.10% APY and 2.078% interest rate.


See this page for more on interest rates and fees.


*APY assumes the account is opened on the 15th day of the month and no qualifying deposits of $100 are made following account opening. Actual APY may be greater or less depending on the date the account is opened.

**Interest Rate is 2.078% during the Introductory Period and 0.995% thereafter.

***APY assumes additional qualifying deposits are made each Evaluation Period.


CD Rates

If you’re looking for a CD, CIT Bank has a variety of options to choose from.


CD’s have:

  • NO account opening fees
  • NO maintenance fees
  • Daily compounding interest
  • FDIC insured


Opening a CD is the same process as opening a savings builder account, shared above.

The minimum amount to fund a CD is $1,000.

The CD rates for Term CD’s range from 0.72% to 1.95% depending on the term, 6 months to 18 months.

They also offer: no penalty 11-month CD’s, Jumbo CD’s, and RampUp CDs.

Curious about your interest and growth with a CD?


Check out CIT Bank’s CD calculator.


CIT Bank Money Market

CIT Bank money market accounts offer 1.85% APY with a $100 minimum opening deposit.


Starting a money market account is easy and you’ll go through the simple 3-step process, funding your account with a minimum of $100.

Enjoy benefits like:

  • Earning 20X more than the national average
  • 24/7 secure online banking
  • No monthly service fees
  • Quick and easy access to your money
  • Among, other benefits


Final Thoughts on CIT Bank Savings Builder Account

Our recommendation is that the CIT Bank savings builder account is one of the best savings accounts available on the market.

If you’re looking for a banking solution that’s easy and flexible, with attractive, competitive rates and low fees, this savings account is perfect for you!

Let your money work for you and enjoy greater peace of mind while banking with CIT Bank!

What do you think of the features and benefits of CIT Bank’s savings builder account?

Want to increase money in your savings account? This CIT bank review will show you how to increase your income almost passively!