Daily News: March 27, 2012

CIT Bank Launches New High-Yield Savings Account

CIT Bank announced the launch of CIT Savings, its high-yield savings account product for consumers. CIT Savings, which requires no minimum balance to open the account and no maintenance fees, offers a current rate of 0.85% annual percentage yield (APY) for dedicated savers.

“Our high-yield savings account offers a very competitive annual percentage yield and complements our existing range of savings options,” said Raymond J. Quinlan, CIT Group executive vice president, Banking. “The launch of this new savings product will assist customers in achieving their savings goals. We encourage customers to consider opening an account with CIT Bank today.”

CIT Savings offers consumers compounded interest daily, allowing them to maximize their earnings potential. Additional product benefits include a fast account application process, a higher rate for higher balances and quick, easy money transfers.