CIT Bank offers a range of savings accounts designed to cater to different financial needs. The Savings Connect Account provides a high 4.65% APY with no monthly fees and a low $100 minimum deposit, making it a straightforward choice for those seeking high yields without the burden of maintaining a high balance. The Platinum Savings Account offers an even higher rate of 5.00% APY but requires a $5,000 daily balance to earn this rate, making it ideal for those with higher savings. The Money Market Account, offering 1.55% APY, is a middle-ground option with no monthly fees, though its rate is less competitive. The Savings Builder Account offers tiered interest rates, rewarding balances over $25,000 with a 1.00% APY and incentivizing regular deposits for higher rates on smaller balances. CIT Bank also offers competitive Certificates of Deposit (CDs) with terms ranging from six months to five years and APYs up to 3.50%, along with specialty CDs for more flexibility. For those considering alternatives, Ally Bank and SoFi Bank offer comparable high-yield savings options with various perks, such as no minimum balance requirements and attractive welcome bonuses.
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