CIT Bank Savings Builder Review: $100/$200 Bonus + 1.80% APY (Nationwide)

New CIT Bank Customers: Offer valid on new Savings Builder accounts opened between January 16, 2020 and April 16, 2020 by consumers who, at account opening, did not have a valid CIT Bank User ID that was created prior to January 16, 2020 (a “New Customer”), provided that the following requirements are met:

• The Savings Builder account must be opened with Promo Code Bonus20 by New Customer. The Promo Code will appear on the enrollment web page for the Savings Builder Account Bonus Promotion.
• The account must be funded with a minimum of: $25,000 for a $100 bonus or $50,000 for a $200 bonus within 15 calendar days from the account opening date (the “Funding Period”).
• All funds used to qualify for bonus eligibility must be new funds. Funds on deposit with CIT Bank, N.A. are ineligible.
• Customer must maintain the required minimum balance for 90 calendar days (the “Review Period”) after the end of the Funding Period.
• Joint Accounts: Enrollment in the promotion will be attributed to the primary account owner. Any additional Savings Builder accounts opened by the primary account owner will not be eligible for the promotion.

Existing CIT Bank Customers: Offer valid for Savings Builder accounts owned or opened by customers with a valid CIT Bank User ID that was created prior to January 16, 2020 (an “Existing Customer”), which Savings Builder accounts are enrolled in the promotion between January 16, 2020 and April 16, 2020. Customers enrolled in a Savings Builder bonus promotion prior to January 1, 2020 are not eligible for this promotion.

Existing Customers with open Savings Builder Accounts must enroll their Savings Builder account into the promotion via the enrollment web page for the Savings Builder Account Bonus Promotion and deposit additional qualifying funds to the enrolled Savings Builder Account and meet the offer requirements set forth below.

Existing Customers without open Savings Builder accounts must open a new Savings Builder account with a valid Promo Code (which appears on the enrollment web page for the Savings Builder Account Bonus Promotion) and deposit qualifying funds to the new account and meet the offer requirements set forth below.

Qualifying funds with a minimum of $25,000 for a $100 bonus or $50,000 for a $200 bonus must be deposited to the Savings Builder account within 15 calendar days from the existing account enrollment date or the new account opening date as applicable (the “Funding Period”).

All funds deposited to qualify for bonus eligibility must be new funds. Funds already on deposit with CIT Bank, N.A. are ineligible.

Customer must maintain the required minimum balance for 30 calendar days (the “Review Period”) after the end of the Funding Period.

Required Minimum Balance:

For Existing Customers enrolling a new account who did not have an open Savings Builder account on January 15, 2020, the amount of the required minimum balance that must be maintained is either $25,000 for a $100 bonus or $50,000 for a $200 bonus.

For Existing Customers (whether enrolling an existing account or a new account) who had an open Savings Builder account on January 15, 2020, to determine whether the required minimum balance is maintained during the Review Period, the end of day balances as of January 15, 2020 in all of a customer’s individual Savings Builder accounts, and any joint Savings Builder accounts in which the customer has ownership, if not already enrolled by another joint owner, will be added together. This includes any Savings Builder account that was open on January 15, 2020 but is closed prior to enrollment. This combined amount will be referred to as the “Starting Balance.” The $25,000 or $50,000 minimum deposit required to earn the desired bonus amount is added to the Starting Balance to determine the minimum combined balance for all the customer’s Savings Builder accounts that must be maintained through the Review Period.

Joint Accounts: The balance in any joint Saving Builder account that was open on January 15, 2020 will be included in the Starting Balance applicable to the first joint account owner to enroll in the promotion. The Starting Balance also include all of that owner’s other Savings Builder Accounts, which cannot thereafter be separately enrolled in the promotion. The joint account holder who did not enroll the account can separately enroll any existing or new Savings Builder account owned by that non-enrolling account holder. The non-enrolling account holder’s Starting Balance will not include the joint account that was enrolled by the other account holder.

The higher interest rate is available by meeting either of the following requirements:

1. Monthly Savers –
   • $100 minimum single deposit or more during the first evaluation period.
     • The Evaluation Period begins on the third business day prior to the end of the month the account was opened.
     • Additional deposits between the account opening date and the beginning of the first Evaluation Period will not qualify.
2. High Balance Savers –
   • Maintain a balance of $25k or more to earn our highest interest rate on each Evaluation Day.
     • The Evaluation Day is the fourth business day from the end of each month.

• No maximum balance
• Enjoy no monthly fees
• Easy to transfer via bank transfers, mobile deposit, wire transfer or check
• Access your account anytime, anywhere
• FDIC insured of up to $250,000

• There are no monthly fees

• Savings Builder is a tiered interest rate account.
• To qualify for the Tiered Boost:
  • Tier Boost – Make at least one monthly deposit of $100 or more during the first Evaluation
    Period which begins on the third business day prior to the end of the month the account
    was opened
• The minimum opening balance does not qualify to earn the higher APY tier.
• Tier levels are subject to change without notice.
• Interest rates and Annual Percentage Yields (APYs) are variable and may change without notice.
• Minimum to open account is $100.
• Fees could reduce earnings on the account.