1 APY - Annual percentage yield is accurate as of March 31, 2017. CIT Bank High Yield Savings rates are variable and may change without notice following account opening. Minimum opening deposit of $100.
2 National average annual percentage yield (APY) as published in the FDIC Weekly National Rates and Rate Caps, accurate as of as of March 20, 2017.
3 Limited-time offer. One bonus per customer. If multiple accounts are opened by a customer, only one account will be eligible for the bonus.
Offer valid on High Yield Savings accounts opened between March 31, 2017-June 30, 2017, provided that the following requirements are met:
- The account is opened with a minimum deposit of $100. All funds used to qualify for bonus eligibility must be new funds. Funds on deposit with CIT Bank, N.A. or its OneWest Bank division at any time during the 90 days preceding account opening, are ineligible.
- The account is funded within 30 calendar days from the account opening date.
- An average monthly balance of at least $15,000 is maintained for the first three full statement cycles. A full statement cycle is defined as beginning the first day of a month and ending the last day of that same month, e.g., 5/1/17 to 5/31/17. The average monthly balance for each full statement cycle is calculated as follows: at the end of each day, the High Yield Savings Account balance is recorded. When the statement cycle ends, these end-of-day balances are added together and then divided by the number of days in the statement cycle to determine the average monthly balance.
The lowest average monthly balance from among the first three full monthly statement cycles will determine the bonus amount, based on the schedule below.
|Lowest Average Monthly Balance
|$15,000 - $99,999
|$100,000 - $299,999
|$300,000 or more
For example, if a customer funds an account on April 10, 2017, the first of the three full monthly statement cycles will begin on May 1, 2017. The additional two monthly statement cycles will be June 1-30, 2017 and July 1-31, 2017. If the customer’s average monthly balance is $125,000 in May, $90,000 in June and $160,000 in July, the lowest of the three average monthly balances is $90,000, and the customer would qualify for a $100 bonus.
The account will be deemed ineligible for a bonus payment if the account is not funded within 30 days of the account opening date or is closed prior to the end of the third full statement cycle or if the average monthly balance from any of the first three full statement cycles is less than $15,000.
Any bonus for which the customer qualifies will be deposited to the account within 45 days of the end of the third full monthly statement cycle.
Bonus payments are reported as interest earned on IRS form 1099-INT for the calendar year in which it was paid. Recipient is responsible for any applicable taxes.
4 CIT Bank, N.A. and OneWest Bank, a division of CIT Bank, N.A. are the same FDIC-insured institution. Deposits held under each name are not separately insured, but are combined to determine whether a depositor has exceeded the $250,000 federal deposit insurance limit, per depositor for each account ownership category. For purposes of calculating aggregate deposits held in CIT Bank, N.A., you should include deposits held in OneWest Bank, a division of CIT Bank, N.A.