Update, April 11, 2020. The CIT Bank Bonus offer is currently paused. However, this is still a great bank for those who are looking for an excellent online-only savings account offering some of the highest rates in the nation. Learn more below.
Many banks offer new customer sign up bonuses from time to time. But not many banks extend the same offer to current customers. That’s what makes the CIT Bank bonus offer unique in the current banking landscape.
CIT Bank is currently offering a valuable bonus offer to both new and current customers. Simply deposit at least $25,000 and you can earn a $150 sign up bonus. Deposit $50,000 or more, and you can earn a $300 sign up bonus.
Let’s look at this in more detail, and examine the fine print (spoiler, if you have the cash available, this is one of the easiest bank sign up bonuses around).
CIT Bank Sign Up Bonuses – Earn up to $300 Bonus
CIT Bank currently has two different sign-up bonuses – and both are available to both new and current customers who apply online and meet the qualifying criteria.
$150 or $300 CIT Bank Savings Builder Account Bonus – New Customers
Available to new customers and current customers!
- Open a Savings Builder account with a minimum of $150 and enter the promo code, Spring20.
- Earn a $150 bonus with a minimum deposit of $25,000 within 15 days.
- Earn a $300 bonus with a deposit of $50,000 or more within 15 days.
- New customers must maintain the minimum balance requirement for 90 calendar days following the end of the 15-day Funding Period to be eligible for the bonus.
- Offer valid on new Savings Builder accounts opened between February 19, 2020 through May 30, 2020.
$150 or $230 CIT Bank Savings Builder Account Bonus – Current Customers
- Visit the CIT Bank bonus page, and start the promo process. Enter the promo code, Bonus20.
- Earn a $150 bonus with a minimum deposit of $25,000 in new funds within 15 days.
- Earn a $300 bonus with a deposit of $50,000 or more in new funds within 15 days.
- Current customers must maintain the minimum balance requirement for 30 calendar days following the end of the 15-day Funding Period to be eligible for the bonus.
- Offer valid for Savings Builder customers who had an account opened prior to February 19, 2020. Offer expires May 30, 2020.
- Customers enrolled in a Savings Builder bonus promotion prior to January 17, 2020 are not eligible for this promotion.
Why Open an Account with CIT Bank?
CIT Bank offers the following types of accounts: Savings Accounts, Money Market Accounts, CDs, Mortgages, Small Business Accounts, and Custodial Accounts.
CIT Bank really shines when it comes to their online savings accounts, as they feature some of the highest interest rates in the nation. They also just added a free interest-bearing checking account that offers up to $15 in ATM reimbursements each month.
That said, CIT Bank doesn’t have any physical locations. So you should consider your banking needs when opening an account. CIT Bank is best for customers who need a separate savings account for their emergency fund or long-term savings, or for those who don’t mind baning entirely online.
More About the CIT Bank Savings Builder Account
The CIT Bank Savings Builder account offers one of the best interest rates in the industry.
That said, there are some requirements you must meet in order to earn the highest rates in the Savings Builder Account:
- you must maintain a balance of $25,000, or
- you must maintain a minimum monthly deposit of $100 or more.
The $100 monthly deposit makes this account attainable for most people.
CIT Bank Offers Best in Class Savings Accounts
Overall, CIT Bank offers great value if you are looking for a bank that offers some of the highest interest rates in the nation. Again, CIT Bank isn’t a full-service bank, meaning they don’t offer checking accounts, credit cards, and certain types of loans.
But if you are primarily looking for a great online bank to store your cash savings, then CIT Bank is definitely worth a look. Especially with the current sign up bonus.
You can learn more about CIT Bank in our full review, or you can visit their website.